Objectives of final accounts, Accounting Standards

Objectives of final accounts

  • describe Final Account;
  • know their objectives and preparation of Trading and Loss and Profit Account;
  • find out the difference among Trading Account and Loss and Profit Account, Gross Profit and Net Profit;
  • explain and understand the terms used in a balance sheet;
  • apply simple principles of valuation of assets;
  • Duty of depreciation in valuation and determining the exact profit of a firm;
  • know Adjustment entries;
  • The significance of adjustment entries to ascertain the financial position of a business firm.
Posted Date: 4/3/2013 6:16:35 AM | Location : United States







Related Discussions:- Objectives of final accounts, Assignment Help, Ask Question on Objectives of final accounts, Get Answer, Expert's Help, Objectives of final accounts Discussions

Write discussion on Objectives of final accounts
Your posts are moderated
Related Questions
assignments

Standardization in UK and USA: although the Institute of Chartered Accountants in England and Wales began creating recommendations as 1942, real progress started along with the es

SQB Corporation reports sales of $10,000,000 for Year 2, with a gross profit margin of 40%.  20% of SQB's sales are on credit.       Year 1 Year 2

what all include in company revenue recoganisation

Loss and Profit Account is prepared so as to discern whether the firm has made net profit or suffered net loss for a specified accounting period. Such account deals along with indi

how many tipe of accounts

Current Assets These are assets that will normally be converted in cash within a year or inside the operating cycle. The operating cycle is the duration in time considered by

Need solution Corporate Financial Accounting Chapter 3 and Chapter 4: Complete PR 3-4A on page 137 using appropriate software. Complete EX 4-4 on page 187 using appropria

To finish  this scenario, use the Sample Size Estimator Sheets A, B of this file. In the previous years of the twenty-first century, annual salaries for federal employees in the

write short notes on 5 modern accounting techniques