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Q. Traditional body of accounting theory?
Presenting the traditional body of theory first as well as the conceptual framework second gives you a sense of the historical development of accounting theory. Despite some overlap among the two parts of the section remember that FASB's conceptual framework builds on traditional theory rather than replaces it. The final part of the section discusses significant accounting policies contained in annual reports issued by companies and illustrates them with an actual instance from an annual report of the Walt Disney Company.
differenciate between a cash book and a ledger
Q. What do you mean by Cross-indexing? Usually, accountants should check and trace the origin of their transactions so they provide cross indexing. Cross-indexing is the insert
The Development Stage Entities Topic specifies the guidelines for identifying an entity in the development stage, addresses the applicability of generally accepted accounting princ
explain accounting standard 14
State about the Cash payments journal A special journal used to record any payment of cash. There would be a check number given to be recorded in journal as well. Source docume
started in business with cash 16,000
20 hypothetical inventory transactions both sale and purchase
office supplies on hand at year end amounted to 3000
Q. Explain business entity concept? Suppose for instance that you own two businesses 1) a physical fitness centre and 2) a horse stable. As per to the business entity concept y
I need help in a project on 'accounting process' . It should begin with a storyline in which a buisness have to be chosen(i have chosen a tyres dealer). Then transactions taking
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