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Q. Learning objectives of Accounting theory?
- Discuss and Identify the underlying assumptions or else concepts of accounting.
- Discuss and Identify the main principles of accounting.
- Discuss and Identify the modifying conventions or constraints of accounting.
- Explain the conceptual framework project of the Financial Accounting Standards Board.
- Discuss the content and nature of a company's summary of significant accounting policies in its annual report.
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how do you find simple interest
Q. Define the accounting process ? The accounting process offers financial data for a broad range of individuals whose objectives in studying the data vary widely. Bank officia
Q. Financial accounting standards boards conceptual framework? Experts have discussed the exact nature of the basic concepts and related principles composing accounting theory
Accountants frequently cite the going-concern assumption to justify using historical costs rather than market values in measuring assets. Market values are of less implication to a
For earnings management, is impairment of goodwill easier to manipulate than impairment of PPE?
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The company borrowed 30 000on September 1, 2011. The principal is due to be repaid in 10 years. Interest is payable twice a year on each August 31 and February 28 at an annual rate
Q. Advantages and Disadvantages of FIFO? FIFO: Advantages (a) FIFO is easy to apply (b) the assumed flow of costs habitually corresponds with the normal physical flow of goods
Q. Show Approximation of periodicity? Approximation and judgment because of periodicity To offer periodic financial information accountants must often estimate expected uncolle
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