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In 1973 and independent seven-member full-time Financial Accounting Standards Board (FASB) replaced the Accounting Principles Board. The FASB has published numerous Statements of Financial Accounting Standards. The Accounting Principles Board Opinions and old Accounting Research Bulletins are still effective unless specifically superseded by a Financial Accounting Standards Board Statement. The FASB is the private sector organization currently responsible for the development of new financial accounting standards. The Emerging Issues duty Force of the FASB interprets official pronouncements for general application by accounting practitioners. The conclusions of this task force should as well be followed in filings with the Securities and Exchange Commission.
The Opening Stock of goods is the stock of goods in hand at the start of an accounting year. It may contain stock of raw material, work-in-progress and finished goods. It appears i
Make a new information system for this company. Your solution should contain the following items: 1. An overview of the primary features of the new system, describing why this
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You must be aware about the most of business are made through cheques these days. It involves the bank whether the firm has opened its own account. Thus when payment is made by che
5 modern accounting techniques
A firm of manufactures, whose books are closed on 31st December, purchased machinery for Rs.50,000 on 15 January, 2010. Additional Machinery was acquired for Rs.10,000 on 1st July,
the relevance of standard costing
Transfere from U.S GAAP to IFRS case study project
Trading account is ready to ascertain the Gross Profit and Loss of a firm; here Gross Profit is the excess of total revenue over cost of goods sold as the credit side of the tradin
#questionThe book of Deven Verma could not be tallied. The accountant transferred the difference of Rs. 1,270 in the suspense account on the debit side. The following mistakes were
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