Describe the accounting procedures, Accounting Basics

Assignment Help:

Q. Describe the accounting procedures?

The demand for college professors differ greatly by discipline. In fields such like Fine Arts, English, Philosophy and Psychology there is a large supply of candidates with advanced degrees and therefore the competition for positions as college professors in these areas is intense. But in applied fields such as accounting and engineering there is a shortage of candidates with advanced degrees. The opportunities for professors in these applied fields are outstanding and the chance to make a real difference in the lives of others is exciting.

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.


Related Discussions:- Describe the accounting procedures

Final accounts, stpes to be taken prepaing for final accounts

stpes to be taken prepaing for final accounts

Advantages and disadvantages of fifo, Q. Advantages and Disadvantages of FI...

Q. Advantages and Disadvantages of FIFO? FIFO: Advantages (a) FIFO is easy to apply (b) the assumed flow of costs habitually corresponds with the normal physical flow of goods

Heww inc., Heww Inc., issued a $50,000, 10 year bond with a stated interes...

Heww Inc., issued a $50,000, 10 year bond with a stated interest rate of 6%. Assume interest payments are made semi-annually. What is the selling price of the bond if the mark

Calculate the share price, Cooperton Mining just announced it will cut its ...

Cooperton Mining just announced it will cut its dividend from $4 to $2.50 per share and use the extra funds to expand. Prior to the announcement, Cooperton's dividends were expecte

Management, briefly explain management process

briefly explain management process

Learning objectives of inventory turnover ratio, Q. Learning objectives of ...

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

Fifo under periodic inventory procedure, Q. FIFO under periodic inventory p...

Q. FIFO under periodic inventory procedure? The FIFO (first-in, first out) method of inventory costing suppose that the costs of the first goods purchased are those charged to

Advantages of setting accounting standards, Advantages of setting Accountin...

Advantages of setting Accounting Standards: 1. Setting of Accounting Standards will decrease the variations in the preparation of financial statements significantly. 2. Sett

Inome statement, #question.outline basic elements to keep in mind while pre...

#question.outline basic elements to keep in mind while preparing an income statement?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd