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Finance: It is the part of economics that studies the management of money and other assets. In easier terms it can be explained as the commercial activity of providing funds and capital. It addresses questions like -- what funds are needed by the org? How they can be increased? How they have to be allocated etc Accounts: It is the occupation of maintaining and auditing records and preparing financial reports for a business. Accounts give quantitative information about finances. It addresses issues like what amount of funds have been due to several activities how the book-keeping is being done etc
As discussing the scope of accounting you should have observed here the accounting involves a sequence of activities connected with each other, starting along with the collecting,
what is the implication of applying accounting concepts wrongly
A swap valuation method which involves summing and computing the present value of each and every future net settlement and would be required by the contract terms either future s
Q. Objective of Recording business transactions? - Use the account as the essential classifying and storage unit for accounting information. - Articulate the effects of busi
when youre using accounting software why would you use hot keys and shortcuts a.to quickly access commands b.to input data for you c.to start the program d.to write checks
Q. Verifiability of Financial information? Verifiability Financial information has verifiability when independent measurers are able to substantially duplicate it by using the
An accounting perspective Business insight Accounting is essential for all three types of business organizations and every company must follow generally accepted accounting pri
Q. Advantages of Weighted-average? Weighted-average: Advantages because of the averaging process the effects of year-end buying or not buying is lessened. Drawback Manipulation
Q. Explain about cash discount? In a few industries credit terms include a cash discount of 1 percent to 3 percent to induce untimely payment of an amount due. A cash discount
stpes to be taken prepaing for final accounts
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