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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.
Q. Accounting systems from manual to computerized? The manual accounting system with merely one general journal and one general ledger has been in use for hundreds of years and
Q. What do you understand by Goodwill? Goodwill -- in accounting, difference between what a company pay when it buys theassets of another company and book value of those assets
accounts show the amount of money owed to the firm by customers. A. Supply B. Prepaid C. Receivables D. Payables
it wont balance
Income Statements and Balance Sheets Case study A brief outline of the firm and its industry is given, as well as a few tips for your attention. You are given three years
How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
Amounts paid on June 30 for a 1-year insurance policy. Is this a pre¬paid expense, (2) unearned revenue, (3) accrued expense, (4) accrued revenue, or (5) none of the foregoing.
Q. Explain FOB shipping point freight collect? FOB shipping point freight collect - Buyer both initially pays and incurs the freight chargers. The proper party (buyer) paid the
Q. What are Accounting software packages? Accounting software packages are normally menu driven and organized into modules such as accounts payable, general ledger, accounts re
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
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