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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.
Q. Explain about Accrued liabilities? Accrued liabilities are liabilities not so far recorded at the end of an accounting period. They represent responsibility to make payments
briefly explain the accounting concepts which guide the accountant at the recording stage
Describe what journal entry pass in case of vat refundable and in case of vat payable? Ans) In case of vat payable: output vat Toinput vat To vat payable In case o
State about the Trade discounts Percentage reduction from list price of the merchandise. These aren't recorded in the accounting records of the seller or buyer. Buyer always
Q. Learning objectives of Horizontal and vertical analysis? - An account is a storage element used to classify and summarize money measurements of business activities of a simi
What steps would you take before approving an invoice for payment? Ans) Following steps should be taken.. ? Certify the invoice once it is matched for checking any holds..
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
State and local income taxes Some states also withhold state income taxes. Texas doesn't. If state withholds taxes, there will be form similar to the federal one to determine t
what are the limitations to errors?
Discuss the considerations that management should take into account in determining the design of an accounting system which will satisfy both (i) its own information requirements a
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