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As discussing the scope of accounting you should have observed here the accounting involves a sequence of activities connected with each other, starting along with the collecting, recording, evaluating and analyzing the data and lastly communicating information to its users. Information has no sense unless it is connected with an exact purpose.
Accounting as a social science can be analyses as an information system as this has all the characteristics of a system. This has its inputs as raw data, processes as men and equipment and outputs as reports and information. If we see accounting like an information system, then we are in a position to make several significant observations. Initially, the goal of the system is to give information that meets the needs of its users. If we can appropriately identify the requirements of the users, we are after that capable to identify the nature and character of the outputs of the system. Secondly, this is the output needs that. Find out the type of data that would be chosen as the inputs for processing in information output.
There are some groups of people who have a stake in business organization managers, creditors, shareholders, workers, customers and so on. Moreover, the community at large has economic and social interest in the activities of these organizations. Such interest is illustrated at the national level through the concern of government in different aspects of the firms' activities, as their economic comfort, their contribution to welfare and their part in the development of the national product, to state only a few illustrations.
061689 bussines accounting and you All i need detail how to do it i watch video but im not understanding if anybody have more specific explanation details
Q. Underlying assumptions or concepts of accounting? The major underlying assumptions or concepts of accounting are (a) business entity (b) going concern (continuity) (c) money
security deposit received from tenant
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format of the account
Adjusting entries in the general journal Be sure to put down the words "Adjusting Entries" at the beginning of journal after the last entry of month. By placing these words at
what are the basics of accounting
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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