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The fundamental concepts, discussed in the previous paragraphs, are the core components in the theory of accounting. Such concepts as postulates or conventions, although, permit a variety of optional practices to coexist. Like a result, the financial results of various companies cannot be compared and estimated unless complete information is obtainable about the accounting methods that have been used. The varieties of accounting practices have created it tough to compare the financial results of various companies. Moreover, the alternative accounting processes have also enabled the reporting of various results, even through very similar company.
Determine the proposal's appropriateness and economic viability. For all scenarios, assume spending occurs on the first day of each year and benefits or savings occurs on the las
Cargin Company uses the FIFO method in its process costing system. The Assembly Department started the month with 15,000 units in its beginning work in process inventory that were
Q. Example of Unearned service fees? Unearned service fees On December 7 Micro Train Company received USD 4500 from a customer in payment for future training services. The firm
Cash Flow Analysis: As per the Institute of Cost and Works Accountants of India (AICWAI), a Cash Flow Statement is a declaration setting out the flow of cash under different
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 had given tour advance to party how to treat entry and which head have to given expenditure? Ans) Cash/Bank a/c DR To Party(name)a/c (Advance Paid For Tour)
The career paths outlined above don't nearly cover all of the many professional options available to tax specialists. For instance are you concerned that a traditional tax accounti
#quthe books of deven verma could not be tallied.the accountant transferred the difference of Rs.1270 in the suspense account on the debit side the following mistakes were found la
1. Fill in the table below. Assume TC stands for Total Cost, TFC as Total Fixed Cost, TVC as Total Variable Cost, ATC as Average Total Cost, AFC as Average Fixed Cost, AVC as Aver
Journal voucher is the voucher in which all the adjustment related entries and non cash non bank transactions are come ijournal eg-dep, some of them book the bills in journal and
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