Syntax of accounting procedure, Financial Management

Syntax of Accounting Procedure

The general accounting practices are:

(a)  Do not consider any income or gain till the similar is realised in cash;

(b)  Create or make provision for future expected losses & contingencies on the basis of past performance.

The accounting procedure has its own syntax (Rules on that accounting entries are made in books of accounts) that is generally known as Double Entry Book Keeping System. The primary system on that the accounting procedure is based is known as Generally Accepted Accounting Principles (GAAP) and Accounting Standards.

The primary steps used in measurement of accounting information are explained in the traditional definition of accounting through the AICPA that defines accounting as "the art of recording classifying and summarizing in important manner and in terms of money, transactions events that are, in part at least of a financial character and interpreting the results thereof".

Posted Date: 2/6/2013 12:41:49 AM | Location : United States







Related Discussions:- Syntax of accounting procedure, Assignment Help, Ask Question on Syntax of accounting procedure, Get Answer, Expert's Help, Syntax of accounting procedure Discussions

Write discussion on Syntax of accounting procedure
Your posts are moderated
Related Questions
Post-acquisition Effect on EPS If the consideration is completely in shares, one of the effects would be a dilution in EPS suffered by Predator Company. The effect of dilution

Secured LBO Financing or Asset-Based Lending Under asset-based lending, the borrower pledges certain assets as collateral. Asset-based lenders look at the borrower's assets as

Characteristics of Hedge Funds Hedge Funds are commonly referred to as "absolute return strategies", which means that many are designed to seek positive returns in most market

Q. Give subject matter of participation? Subject matter of participation by and large the workers interests in participation varies with the nature of issues' involved in parti

If an optimal capital structure exists, what are the reasons why too little debt is as undesirable as is too much debt? Too little debt may be as unwanted as too much debt for

(a) Prior to FAS 133 if companies qualified for hedge accounting their hedges were assumed to be perfect-no valuation or testing required. Currently under FAS 133 risk managers se

Suppose today's settlement price on a CME DM futures contract is $0.6080/DM. You comprise a short position in one contract. Your margin account at present has a balance of $1,700.

FACTORS INFLUENCING CAPITAL STRUCTURE/DETERMINANTS OF THE CAPITAL STRUCTURE 1. Financial leverage (or) Trading on equity it is the make use of long term fixed interest bea

Cash flow from investing activities The items included in this heading are: Cash payments Cash receipts Acquiring proper

Explain the effect of different dividend policies on the value of share respectively as per the walter model in Case 1: Dividend payout ratio is 50% Case 2: Dividend payout ratio