Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Dual Aspect Concept - Accounting Principle
This is, no doubt, the basic concept in accounting. Under this concept, each transaction has got a two-fold aspect:
(i) yielding to or receiving of benefit and
(ii) giving of the advantages.
For instance, while a firm obtains an asset (receiving of the benefit) it must have to pay cash (giving of the benefit). Therefore, two accounts are to be passed in the books of accounts, one - for receiving the benefit and the other - for giving the benefit. Therefore, there will be a double entry for every transaction - Debit for receiving the advantage and credit for providing the benefit. So, for each and each debit there must be a corresponding credit and vice versa. This is the principle of Double Entry System of accounting which, Instead, known as the 'Dual Aspect Concept'.
Describe your role in managing a discrete assignment
Calculation of before-tax return on capital employed Total net before-tax cash flow = 122 + 143 + 187 + 78 = $530000 Total depreciation = 250000 - 5000 = $245000 Average
Tests for Consistency The consistency of the index numbers have been tested over the years. The most important of these tests are: The time reversal test The
How can an industrial company inflate the value of its inventory so as to decrease net income and the taxes is has to pay that year? If a company increases the value of its inv
1. A company sold a super computer to an Institute in Germany on credit and invoiced DM 10 million payable in six months. Presently, the six-month forward exchange rate is $1.50/DM
Five Cs of Obtaining Credit The five crucial parts lenders examine previously issuing credit include: 1. Character. This is a calculation of the borrower's integrit
Define the meaning of objective - financial management The term objectives offers a normative framework. That is the focus in financial literature is on what a firm must try to
Q. Explain about Loans - Forms of Bank Finance? When a bank makes an advance in lump-sum against some security it is called a loan. In Case of a loan, a specified amount is san
Q. Explain about Types of costs? Thus two types of costs are involved in keeping cash balance in a business- (i) Opportunity Cost (ii) Transaction Cost When cash balan
What is Financial risk Financial risk is affected by mixture of long-term financing or capital structure, of firm. Firms with high levels of long-term debt in proportion to t
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd