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Classifying expenses by natureUnder this format, expenses are not classified by their nature i.e. referred to specifically according to their type and the major categories of expenses are:-
NOTE: Classification of expenses by function is the most common format used and classification of expenses by nature is more appropriate for manufacturing firms.There are certain types of incomes and expenses that do not face within the trading activities of the business but are within the ordinary activities of the firm. E.g. disposal of property, plant and equipment and other non-current assets.The standard requires that if the above incomes and expenses are material, they can either be classified as part of the other expenses or shown separtely on the face of the income statement.The company should give additional information about such items in the notes to the accounts.
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In additional information depreciation of two years is given. What is the treatment of it while preparing fixed assets account.
This assignment requires you to pretend you have $10,000 to invest for 4 weeks. You are to "invest" this money in stocks or mutual funds and to track your investments on a weekly
Van Aalst Company's comparative balance sheet and income statement for last year appear below: Comparative Balance Sheet
Q. Describe about Capital Stock? Capital Stock - Ownership shares of a CORPORATION authorized by its ARTICLES OFINCORPORATION. Money value assigned to a corporation's issued sh
EXPLIN THE PROCEDURE FOLLOWED IN GOVERMENT SYSTEM OF ACCOUNTING IN INDIA.
Limited Liability Partnership (LLP) - GENERAL PARTNERSHIP which, via registration with an appropriate state authority, is able to enshroud all its partners in limited liability. Ru
In the spring of each year, Steinbrook College's theater department puts on a contemporary play. Before the performance, the theater manager instructs student volunteers in their d
Q. Investors advantage from financial intermediation? Investors advantage substantially from financial intermediation because: (a) By investing in a market or bank investors
Return on Investment (ROI) - Ratio measure of the profits achieved by a firm by its fundamental operations. An indicator of management's general efficiency andeffectiveness. The si
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