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Accounting concepts
The word 'Accounting Concept' is used to denote necessary assumptions and ideas which are basic to accounting practice. The variety of accounting concepts is like this:
This idea does not trace any fact or happening, however significant it is to the business, in the books of accounts if it cannot be spoken in terms of money. And as per this idea, a transaction is recorded at its money worth on the date of occurrence and the following changes in the money value are suitably unnoticed.
Balance Sheet Preparation with a Missing Element The following data are available for Schubert Products Inc. as of December 31, 2012. Cash . . . . . . . . . . . . . . . . . . . . .
assignment ofr p V RATIO ANALYSIS
what is recorded sales on account of 3,280
The managerial performance measure must be quantitative and the manner in which it is to be calculated should be specified. The managerial performance measure must ideally be linke
The Operating Cycle Two Wheeler Cycle Shop buys all of its bikes from one manufacturer, Baxter Bikes. On average, bikes are on hand for 45 days before Two Wheeler sells them. The c
Assignments of book debts The trustee can set aside an assignment of existing or future book debts, whether absolute or by way of charge, unless the assignment was registered a
Q. What is Exposure Draft? Exposure Draft - Document issued by AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS (AICPA), FINANCIAL ACCOUNTING STANDARDS BOARD (FASB), GOVERNME
Suppose that the annual rate of interest is 4%. (a) What is the monthly rate? (b) Consider a 3-year lease on a car that is worth $20,000 today. The first payment on the lease
Q. Estimation of current cost of debt? The debenture will be used to estimation the current cost of debt as it is the only marketable debt. The present market value of the debe
worked example for Professional examinations
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