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Governmental agencies at the state, federal, and local levels employ governmental accountants. Habitually the duties of these accountants relate to tax revenues and expenditures. For instance Internal Revenue Service employees use their accounting backgrounds in reviewing tax returns and investigating tax fraud. Government agencies that control business activity such like a state public service commission that regulates public utilities e.g. Telephone Company, electric company generally employ governmental accountants. These agencies often utilize governmental accountants who can review and evaluate the utilities' financial statements and rate increase requests. As well FBI agents trained as accountants find their accounting backgrounds useful in investigating criminals involved in illegal business activities such like drugs or gambling.
SALES DISCOUNTS AND CASH RECEIPTS JOURNAL SALES DISCOUNTS Sales discount is recorded as a reduction in sales revenue. CASH RECEIPTS JOURNAL Source documents: ca
There are over 5,000 banks in the United States-more than 10 times the number per person than in other industrialized countries. A recent study suggests that the long-run average c
The capital structure of Wild West Inc. is as follows: - Debts: $5,000,000 (face value) bonds with coupon rate at 8.00% and present price at par - Preferred shares: $2,000
Q. Importance of proper inventory valuation? A merchandising company is able to prepare accurate statements of retained earnings, income statements and balance sheets only if i
Q. Describe about Capital? Capital -- money invested in a business by its owners. On the right side or bottom of a balance sheet. Capital also denotes to machinery, buildings a
Q. What do you understand by Deferred income? Deferred income -- a liability which arises when a company is paid in advance for services orgoods that will be provided later. Fo
Describe the mechanisms that WorldCom's management used to transfer profit from other time periods to inflate the current period.
Control of independent demand inventory items
it wont balance
In November 2012, US based information technology Hewlett Packard recorded a write-down of around $8.8 billion related to its $11.3 billion acquisition of the UK based software mak
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