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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.
Accounting is a significant service activity in business and is concerned along with collecting, evaluating, communicating and recording the results of past events. The history of
A(n) _______ loss occurs when the reduced price is below the actual cost. A. net B. operating C. absolute D. incurred
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i dont undrstnd t concepts of assets and liabilties n also journal entries thnks
Q. Explain about Purchase discounts? Purchase discounts frequently companies purchase merchandise under credit terms that permit them to deduct a stated cash discount if they p
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Q. Explain about cost principle? As applied to largely assets this principle is often called the cost principle. It utter that purchased or self-constructed assets are initiall
what is the basic meaning of debit and credit
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