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Q. Cash collection as point of revenue recognition?
Several small companies record revenues and expenses at the time of cash collection and payment which may not take place at the time of sale. This process is the cash basis of accounting. The cash basis is acceptable principally in service enterprises that don't have substantial credit transactions or inventories such as business entities of doctors or dentists.
Q. Illustrate a sales cycle of company? When exploratory a company's management, sales cycle and users of financial data must be aware of any seasonal changes that may affect i
For earnings management, is impairment of goodwill easier to manipulate than impairment of PPE?
Contain the relevant authoritative literature on accounting for investments in held-to-maturity securities using the FASB's Codification Research System. What is the specific citat
what is the mission of the Accounting and Finance Functional Area
A machine valued on the books at $8500 was sold on credit to $8000.
1. My accountant has told me that my business made a profit of £100,000 last year. However over the same time period my bank balance has decreased and not increased as I expected.
In accounting, only those facts that can be expressed in terms of money are recorded. When money is accepted not merely as a medium of exchange but also as a measuring rod of value
If my company sells 4000 shares of common stock for $86,400, how do I record this in the Journal?
Q. Illustrate about accounting cycle? The accounting cycle is a series of points performed during the accounting period some throughout the period and some at the end to reco
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