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Financial Accounting
An accounting technique that records, interprets, and reports the historical cost transaction of an organization. An organization records these transactions in bookkeeping journals and ledgers. To understand the transactions, it uses, between other analytic tools, a series of ratios, such as acid test ratio, present ratio, inventory turnover, debt-to-equality ratio, and so on. Financial reports include financial statements (balance sheet, income statement, statement of cash flows), as well as special internal monetary reports that are unique to each organizations.
explain inflationary accounting
Illustration of Admissions and Retirements Jim and Ken have been trading in partnership for several, sharing profits or losses equally after allowing for interest on their capi
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Presentation method (formerly closing rate or net investment method) Under this method, the branch operates with a lot of degree of autonomy from the head office. This position i
Vincent Ltd operates solely in Western Australia and the chief operating decision maker has identified five operating segments: Mining, Insurance, Retailing, Manufacturing and Tran
Determine about the accounting information Numerous user groups have an interest in accounting information relating to a business. Majority of these are outside the business ho
Cleaning Co. began business on March 1, 2011. The company provides specialized cleaning services to corporate clients. Listed below are the transactions entered into by Cleaning Co
Interstate Manufacturing produces brass fasteners and incurred the following costs for the year just ended: Materials and supplies used Brass
Classifying expenses by nature Under this format, expenses are not classified by their nature i.e. referred to specifically according to their type and the major categories of ex
The New York Jets have decided to go public and are offering new shares for $40. Since the Jets want to build a new stadium, the firm will retain all earnings and will not issue an
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