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ACCOUNTING STANDARDS
An Accounting Standard is a elected set of accounting policies or broad strategies concerning the principles and methods to be elected out of numerous substitute for communication of financial information to a variety of interested parties. They may narrate to a variety of aspects of measurement, treatment, disclosure and presentation of accounting transactions and events. Standards match to applicable customs, usage, laws, and business environment.
Q. Explain about Accrual basis and periodicity? Accrual basis and periodicity demonstrated that financial statements more accurately reflect the financial status and operations
How can I capitalize my patents? My company has applying for a patent and I want to capitalize the research and development expenditures. I know it will cost some legal charges and
Explain about the Management accounting Management accounting has also changed by becoming more outward looking in its focus. In past, information provided to managers has bee
Determining needed adjustments Adjustments are required since certain changes take place during the accounting period. As time passes, although, the value of the asset is consu
1) A) Suppose Jean Splicer, an investor, buys $300,000 of shares of stock in a diversified bundle of Bio-tech firms and exactly one year later sells those shares for $315,000. Assu
Q. Explain about Manufacturing companies? Manufacturing companies purchase materials convert them into products and then sell the products to other companies or else to the fin
What should companies not show as non-current assets in their balance sheets? A plant bought on hire purchase B plant fully depreciated C plant held on finance leases D pla
Details: Costing products is a matter of considerable importance to organizations. The need for accurate product costs ranges from cost identification for inventory valuation purp
Q. Choosing an accounting career? How companies have a choice in inventory cost methods among specific identification, LIFO, FIFO and weighted-average. Likewise one of the grea
Are mailing lists are considered as prepaid or period expens?
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