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Q. What do you mean by Not-for-profit organizations?
Not-for-profit organizations such like charities, fraternities, churches, and universities need accountants to record and account for funds received and disbursed. Although these agencies don't have a profit motive they must operate efficiently and use resources effectively. About 10,000 accountants are employed in higher education. The deeds of these academic accountants comprise conducting scholarly, teaching accounting courses and applied research and publishing the results and performing service for the institution and the community. Faculty positions subsist in two-year colleges, four-year colleges, and universities with graduate programs. A major shortage of accounting faculty has developed because of the retirement beginning in the late 1990s of many faculty members. Preliminary salaries will continue to rise significantly because of the shortage. You may possibly want to talk with some of your professors about the advantages and disadvantages of pursuing an accounting career in higher education.
Q. Show the examples of long-term assets? Property, plant, and equipment are assets with helpful lives of more than one year a company acquires them for use in the business r
Genentech, Inc. is a California-based biotech pioneer recently acquired by Swiss pharmaceutical giant Roche Holding AG. Roche paid $46.8 billion in cash for the 44 percent of Gen
Q. Example of accumulated depreciation account? The accumulated depreciation account doesn't represent cash that is being set aside to change the worn out asset. The un-depreci
The fundamental concepts, discussed in the previous paragraphs, are the core components in the theory of accounting. Such concepts as postulates or conventions, although, permit a
Q. Objective of Recording business transactions? - Use the account as the essential classifying and storage unit for accounting information. - Articulate the effects of busi
An invoice for product X totals $1,200 and is dated July 6, 2000 with terms 2/10-60X. If the invoice is paid on September 3, 2000, what is the net amount of payment? A. $912
Limitations of Ratio Analysis : In spite of the a variety of uses of ratio analysis, it go through from certain limitations, some of which are as under; 1. Limited use
The following stockholders' equity accounts arranged alphabetically are in the ledger of McGrath Corporation at December 31, 2011. Common Stock ($10 stated value) $1,500,0
How to perform a basic accounting training progrum ..
Q. Explain about revenue recognition principle? Under the revenue recognition principle revenues must be earned and realized before they are recognized (recorded). Earning of r
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