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A sound foundation is necessary for success in any task from building a house to putting on make up. In terms of U.S Accounting standards it is necessary to have a sound foundation referred to as the conceptual framework. Let's discuss it step by step starting with the objective. What is the objective of accounting standards?
Question 01: (1.1 and 1.3) What is accounting and how is accounting environment? Question 02: (1.2 and 1.4) Presenting the characteristics of the quality of accounting information
Example of outbound logistics in bank
Unrealized profit on Property, Plant and Equipment Where one company sells an item of PPE to the other company in the group then, this will lead to two main problems. a) The se
Ordinary Income - One of two classes of income (other being CAPITAL GAINS) taxed under the INTERNAL REVENUE CODE. Factually, ordinary income is taxed at a higher rate than capital
Help making t-Accounts
Q. What is Recapitalization? Recapitalization - An internal reorganization of a corporation including a rearrangement of capital structure by changing the kind of stock or numb
SECTION B QUESTION 2: Two companies Juk Ltd and Roop Ltd operate in the tourism sector. Financial forecasts are provided below: Income Statement for yea
I am an AAT student studying lvl 3 AAT at college. I wish to learn how to complete self assessment end of year tax return forms for other people. That is because I have already bee
what organizations are responsible for governing financial reporting? what is the role of each organiztion? how have the roles changed in the last 20 years? how might their roles c
Powers of trustee (A) Of his own initiative, he may: 1. Sell and transfer any part of the bankrupt's property; 2. Gives receipts for money received; 3. Take all n
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