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How to prepare the worksheet Look carefully at worksheet in the text. Remember that it is an informal working paper used to prepare financial statements. Place transparenci
O B JECTIVES OF FINANCIAL STATEMENTS The fundamental purpose of financial statements according to AICPA is 'to offer qualitative financial information concerning to the busi
stpes to be taken prepaing for final accounts
The past of accounting specifies the evolutionary pattern that reflects changing socioecoiom conditions and the enlarged reasons is that accounting is applied. In the current co
Accounting Standards The flexibilities offered by a choice of accounting treatments distinctly diminish, and even distort the comparability of relevant inform
Q. What is matching principle? Expense recognition is closely related to as well as sometimes discussed as part of the revenue recognition principle. The matching principle sta
Q. Explain accounting cycle? Creditors, Investors as well as Managers use these statements in evaluating management's past decisions and as a basis for making future decisions.
Q. Introduction to inventories? Subsequent to studying this chapter you should be able to - Record the journal entries for sales transactions involving merchandise. - Exp
Q. Explain about Depreciation? Depreciation Just as prepaid rent and prepaid insurance indicate a gradual using up of a previously recorded asset thus does depreciation. But th
The advent of management accounting was the subsequently logical step in the developmental method. The practice of utilizing accounting information like a direct aid to management
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