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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. Show depreciation formula with example? The depreciation formula (straight-line) to calculate straight-line depreciation for a one-year period is: Annual deprecation = (
Why to and by using in journal, trading a/c, p&l a/c and ledger?
Determining the Discount Rate XYZ (APP) Ltd is a biotechnology company that recently listed on the Australian Securities Exchange (ASX). As such, XYZ Ltd has very limited stoc
Windsor Company will receive $100,000 in 7 years. If the appropriate interest rate is 10%, the present value of the $100,000 receipt is ? Answer: PV = FV (PVIF) = $100,000 x 0.5132
Scop of accounting
Billable expenses are those expenses incurred by you on behalf of your client in performing duties / supply and service. These expenses are recoverable from your customer by way of
Q. Example of Accumulated Depreciation account? Along with other items the trial balance of Korman Company for 2010 December 31 includes the following account balances
Explain in brief about the purchases account keeps a record of cost of merchandise purchased for resale during an accounting period. Assets are recorded as assets-not pu
Q. Describe about Expense? Expense -- an expenditure that is chargeable against revenue during an accounting period.An expense leads to the reduction of an asset. All expenditu
Q. Show Employment opportunities in accounting? Throughout the last half-century accounting has gained the same professional status as the medical and legal professions. At pre
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