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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.
Q. What is sales allowance? A sales allowance is a inference from the original invoiced sales price granted when the customer keeps the merchandise but is dissatisfied for any
the long distance company that you use charges $5.00 per month and $0.10 per minute per call. If your current bill is $25.00, how many minutes did you use?
Windsor Company will receive $100,000 in 7 years. If the appropriate interest rate is 10%, the present value of the $100,000 receipt is ? Answer: PV = FV (PVIF) = $100,000 x 0.5132
Different Methods Of depreciation Diminishing Value Method Straight Line Method Annuity Method Depletion Method Written Down value Method
Q. Define Auditing? Auditing A business in quest of a loan or attempting to have its securities traded on a stock exchange typically must provide financial statements to suppor
why would a bank be interested in the investment ratios of its customer firms..
Revenues from the theatrical supply of motion pictures are recognized when motion pictures are exhibited. Television licensing revenues are recorded while the program material is a
Q. What do you mean by Return on investment? Return on investment (ROI) -- a measure of efficiency and effectiveness with that managers use resources available to them, express
Controller: Controller another name for Chief Accountant is generally the head of the whole region of accounting, including internal audit. He is generally in charge of all types
Analyzing and using the financial results trend percentages It is occasionally more informative to express all the dollar amounts as a percentage of one of the amounts in the b
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