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There is almost not, any organization that does not have an accountant. His task is all pervasive and he is included in a broad range of activities, particularly in a huge and complex organization. The particular duties of an accountant might be different in differ organizations. Though, a broad spectrum of responsibilities can be known.
The accountants can be largely divided in two categories, such who are in public practice and who are in private employment. The accountants in public practice present their services for conducting financial and/or cost audit. By it, they are identified as auditors. The auditor examines the books of account and reports upon the balance sheet and income and loss account of the company as to where they provide a true and fair view of the state of issues of the company and its profit respectively. The auditor in a company is appointed through the shareholders to whom he reports. Public accountants are usually members of professional bodies needs the Institute of Chartered Accountants of India or the Institute of Cost and Works Accountants of India. As well to conducting financial or cost audit as in accordance along with the requirements of the Companies Act, like the case may be, they may also give consultancy services for design Qing or enhancing accounting and management control systems.
Accountants in service may be in various business or non-business organizations to carry out a variety of accounting and management control functions. Accountants at superior levels usually belong to professional accounting bodies but those who are at lower levels required not be so. Accounting chiefs in dissimilar organizations, depending on their nature of work, are variously intended as finance officers or chief's accounts officers or internal auditors etc. The term 'controller' is implies the head of the accounting and finance function is not extremely popular in India but of late it has been catching up. A number of large organizations, both in the private and public sectors, have now controllers. Here we have an concept of who these people are and what they perform.
Home Inc. is considering buying a new piece of equipment, which will cost $715,000 and has an economic life of 5 years, in order to make a new line of product. The company believe
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Which of the following transactions does not involve an exchange of value? a. Payment of a debt b. Purchase of a building on credit c. Borrowing money d. Loss from theft
RATIO ANALYSIS
1. If market interest rates are higher than the rate offered on the bonds being sold, they will be sold at: A. a premium. B. a discount. C. face value. D. a loss.
trial balance as at may 31 19*6 dr cr sales 400000 purchases 350000 sales return 5000 purchases return
Q. Show payment of a liability? Accountants are able to easily measure some changes in assets and liabilities such as the acquisition of an asset on credit and the payment of a
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State about the Balance Sheet columns of worksheet Balance Sheet columns of worksheet would comprise the amounts from Adjusted Trial Balance columns which are assets, capital,
Q. What is Working capital? Working capital -- current assets minus current liabilities. In most businesses majorcomponents of working capital are cash, accounts receivable and
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