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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.
Discuss this statement using examples to highlight the roles that the Profit statement and cash flow statement perform in providing relevant financial information to business and why an accounting profit may not be reflected by an increase in cash at bank.
2. Outline the basic principles and major development phases of accounting information systems (AIS).
Include in your answer brief discussion of the key characteristics of useful information supplied by an AIS.
explain the proceedure followed in government system of accounting in india
1. For each of the following accounting assumptions/principles, explain a business transaction: (a) Accounting Entity Assumption (b) Going Concern Assumption (c) Matching Prin
Go to http://moneycentral.msn.com and look up the companies Lowe’s (symbol: LOW) and Home Depot (symbol: HD). To the left, you will see several different tabs. At the bottom, yo
Q. Procedure of recording business transactions? The raw information of accounting is the business transactions. We documented the transactions in section 1 as increases or dec
who are sole traders
Mohan brothers invoiced goods to their branch at cost plus 33.33%. All the cash collected by branch is banked on the same day to the credit of head office. All expenses are paid by
Q. Illustrate lower-of-cost-or-market method? Procter & Gamble markets a broad range of paper, cleaning, beauty care, health care, food, laundry and beverage products around th
incomestatment
Q. What is FOB shipping point? FOB shipping point signifies free on board at shipping point. The buyer acquires all transportation costs after the merchandise has been loaded o
Q. Gain and loss recognition principle? The gain and loss recognition principle states that we record gains merely when realized but losses when they first become evident. Ther
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