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Q. Consistency in accounting principle?
Consistency necessitates that a company use the same accounting principles and reporting practices through time. Consistency makes possible comparability of financial information for a single company through time. Comparability between companies is more complicated because they may account for the same activities in different ways. For instance Company B may perhaps use one method of depreciation while Company C accounts for an identical asset in similar circumstances using another method. A high degree of inter-company comparability in accounting information doesn't exist unless accountants are required to account for the same activities in the same manner across companies and through time.
Accountants should consider one pervasive constraint and one threshold for recognition in providing useful information. First the benefits secured as of the information must be greater than the costs of providing that information. Second only material items require be disclosed and accounted for strictly in accordance with generally accepted accounting principles (GAAP).
Q. What is Marginal cost and marginal revenue? Marginal cost is the extra cost incurred by addingone more item. Marginal revenue is revenue from selling one more item. Economic
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#Please complete the following 7 exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculatio
how we prepare ledger account and trial balance?
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.”
Q. Salary potential of accountants? Selecting a major represents much additional than the choice of courses a student takes in college. To a significant degree, the student's m
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Q. Interest rate implied in cash discounts? Interest rate implied in cash discounts to decide whether you should take benefit of discounts by using your cash or borrowing makes
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