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Q. Explain about Accountants record expenditures?
Accountants record expenditures on physical resources such like buildings, land and equipment that benefit future periods as assets. But they expense expenditures on human resources for hiring and training that benefit future periods. As well when a computer is dropped and destroyed accountants record a loss. But when the president of the company dies they record no loss. Must the accounting model be changed regarding the accounting for human resources?
Q. Define the Product costs? Product costs are costs earns in the acquisition or manufacture of goods. Since you will see in the next section included as product costs for purc
Q. Choosing an accounting career? How companies have a choice in inventory cost methods among specific identification, LIFO, FIFO and weighted-average. Likewise one of the grea
COMMON ADJUSTMENTS AFFECTING THE PREPARATION OF BALANCE SHEET ARE: 1. Closing stock : Closing stock come into view on the credit side of trading account and assets side of
You should have recorded in your cash books all amounts you've really received and payments you've really made. Though the cash books may be incomplete as your bank may have put ex
WHAT IS ACCOUNTING
Q. Need for adjusting entries? The income statement of business information all revenues earned and all expenses incurred to generate those revenues during a given period. An i
Define FBT (Fringe Benefit Tax)? Ans) The tax payable on a non-salary benefit given to an employee or an associate of the employee. The employer is likely to pay any FBT and may
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Dogwood florist opened a business January 1st 2010. During 2010, they had the following transactions and economic events. For each of the transactions and economic events prepare
Provided services on credit to Yamato P/L $5 900. How do we apply this in the t accounts
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