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Finance: It is the part of economics that studies the management of money and other assets. In easier terms it can be explained as the commercial activity of providing funds and capital. It addresses questions like -- what funds are needed by the org? How they can be increased? How they have to be allocated etc Accounts: It is the occupation of maintaining and auditing records and preparing financial reports for a business. Accounts give quantitative information about finances. It addresses issues like what amount of funds have been due to several activities how the book-keeping is being done etc
How would you summarize Apple's cash flow position and what does this statement tell you about where the money is coming from and where it's going? What should Apple do to improv
Q. What is Prepaid rent explain with example? Prepaid rent Prepaid rent is another instance of the gradual consumption of a previously recorded asset. Suppose a company pays re
Accounting conventions The phrase 'convention' is used to signify customs or ethnicity as a guide to the research of accounting statements. A variety of accounting conventions
Q. Example of supplies on hand? On 2010 December 4 Micro Train Company buy supplies for USD 1400 and recorded the transaction as follows Micro Train's two accounts reci
Using 2012 as the base year, prepare a trend anslysis for the data that follow, and tell whether the results suggest a favorable or unfavorable trend.(round to one decimal place.
Different Methods Of depreciation Diminishing Value Method Straight Line Method Annuity Method Depletion Method Written Down value Method
Establishing the Change Fund Change Fund (asset) is debited and Cash is credited. Only time this fund would be used is if the fund is established or increased, just like Pet
Q. Explain about revenue recognition principle? Under the revenue recognition principle revenues must be earned and realized before they are recognized (recorded). Earning of r
Q. Explain about accounting cycle? when an event is a measurable business transaction you require adequate proof of this transaction. After that you analyze the transaction's e
Q. Adjustments for accrued items? Accrued items need two types of adjusting entries asset/revenue adjustments and liability/expense adjustments. The first group asset/revenue a
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