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Q. Describe the accounting procedures?
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Briefly introduced the body of theory underlying accounting procedures. In this section we discuss accounting theory in greater depth. Currently that you have learned some accounting procedures you are better capable to relate these theoretical concepts to accounting practice. Accounting theory is a set of fundamental concepts and assumptions and related principles that explain and guide the accountant's actions in identifying measuring, and communicating economic information. To a few people the word theory implies something abstract and out of reach. Understanding the theory at the back the accounting process but helps one make decisions in diverse accounting situations. Accounting theory offers a logical framework for accounting practice.
Q. Learning objectives of inventory turnover ratio? - Net income for an accounting period depends straight on the valuation of ending inventory. - If the ending inventory is
Recording and reporting stock transactions and cash dividends across two accounting cycles Davis Corporation was authorized to issue 100,000 shares of $10 par common stock and 5
Q. What is Depreciation? Depreciation -- an expense which is supposed to reflect the loss in value of a fixed asset. Forinstance if a machine will entirely wear out after ten y
Q. Example of sales cycle of company? For several retailers a large percentage of their annual sales occur during the period from Thanksgiving to Christmas. They efforts to sto
What if the public holiday falls on a rest day? how to pay and which one is?
Q. What is sales allowance? A sales allowance is a inference from the original invoiced sales price granted when the customer keeps the merchandise but is dissatisfied for any
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.
Can you give me a more simple definition of Mutual Confidence and give me an example of a situation of it
Illustrate the subsequent Accounting Concepts: a) Dual Aspect concept b) Materiality concept c) Matching concept d) Conservatism concept
Q. In between FIFO and lifo which one is the correct method? The differences for the four methods take place because the company paid different prices for goods purchased. No d
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