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Accounting Principles are the rules and guidelines that companies should follow when reporting and accounting financial data. The general set of accounting principles are the generally accepted accounting principles (GAAP). To stay indexed on various major stock exchanges in the U.S., companies must maintain regular financial statements reported as per GAAP. Accounting principles differs around the globe, and countries usually have their own, slightly different, versions of GAAP.
Q. Interest rate implied in cash discounts? Interest rate implied in cash discounts to decide whether you should take benefit of discounts by using your cash or borrowing makes
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
Assume we are selling a device for 6000 and the company need to replace that device with a new device which is a bit more than the prior price say 7000.Then,how we can account this
How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
An accounting ledger that reveals the transaction history and amounts owed independently for each supplier from whom the business gets credit for purchases. The balance in the cust
Why to and by using in journal, trading a/c, p&l a/c and ledger?
Explain the term- Reversing entries and Interim statements Reversing entries - Made the first day of new accounting period. They are exact opposite of the adjusting entries
RATIO ANALYSIS
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What is Purchase Returns?
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