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The balance sheet lists assets, capital and liabilities separately. This is an accepted convention about the assets and liabilities are demonstrated in sub groups and listed in the order of their liquidity or Permanence.
The balance sheet in our illustration or format is presented in the T account form. Such is the assets are listed in liabilities and one side and owners' equity on another.
The other commonly used way of presentation is the report form where liabilities and capital are listed over the assets. Though, the presentation matters extremely little as the balance sheet represents the equality among assets, capital and liabilities.
Hello, I have a presentation about an assigned case study from the book and i also have the solution manual. I am extremely busy till the day of my presentation and my english lan
The subsequent items are debited in the profit and loss account as: 1. Administrative expenses comprising office salaries, office lighting, office rent, printing, director's fee
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Within today's international business environment, there has been a great deal of discussion about the convergence of United States accounting standards (also known as GAAP), with
It is generally taken to include currency or legal tender, cheques or any other document which circulates as cash. It is generally classified like a current asset while it is acces
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Government Accountability Office (GAO) - Accounting and auditing office of the United States government. An independent agency which reviews federal financial transactions and repo
The first municipal bond insurance company was created in 1971 as a supplementary of MGIC Investment Corp. of Milwaukee; now usually called as Ambac Financial Group, Inc. The Ameri
Accounting like a field of study in its developmental process has evolved a theoretical framework consisting of concepts or principles over period of time. Such concepts enjoy a wi
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