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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.
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Implication of applying accounting concept wrongly
I need help understanding my Accounting 205 class. Would some one please help me understand what I am having such a hard time comprehending.
Q. Transactions affecting only the balance sheet? Since every transaction affecting a business entity must be recorded in the accounting records analyzing a transaction before
Funds Flow Analysis : This study is occasionally called as 'Statement of alter in Financial Position". Beneath this analysis, a declaration is prepared which give details the
Q. Describe the Cost of sales? Cost of sales, cost of goods sold -- expense or cost of all items sold during an accountingperiod. Every unit sold has a cost of sales or cost of
Determine the additional cash a company could obtain from its working capital accounts if it can improve its average collection period by three days and inventory turnover by 0.5 t
hello, i am in Malaysia and try to reconcile a bank statement in USD. I am confuse on which currency should i follow to enter the bank transactions. If follow in USD, i could not
in 2011 hardin company had 220000 shares $10 par common stock, march 1 issued 45000 shares at $22, June 1 issued 15% stack dividend, July 1 issued 10000 at $27, Aug 31 2-for-1 st
Kim presently owns a business that processes and distributes fresh vegetable to local supermarkets. She is looking to expand her business by acquiring the Lackawaxen Emu Oil Compan
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