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Q. Financial accounting standards boards conceptual framework?
Experts have discussed the exact nature of the basic concepts and related principles composing accounting theory for years. The debate continues at present despite numerous references to generally accepted accounting principles (GAAP). To date all efforts to present a concise statement of GAAP have received only limited acceptance.
Because of this limited success a lot of accountants suggest that the starting point in reaching a concise statement of GAAP is to seek agreement on the objectives of financial accounting and reporting. The conviction is that if a person (a) carefully studies the environment (b) knows what objectives are sought (c) can identify certain qualitative traits of accounting information and (d) can define the basic elements of financial statements, that person can discover the principles and standards leading to the stated objectives. The FASB finished the first three goals by publishing Objectives of Financial Reporting by Business Enterprises and Qualitative Characteristics of Accounting Information. Attend to the fourth goal are concepts statements entitled Elements of Financial Statements of Business Enterprises and Elements of Financial Statements.
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The information contained in published financial statements is of specific importance to external users, as shareholders and investors. Without any information they would not be ca
Q. Accounting systems from manual to computerized? The manual accounting system with merely one general journal and one general ledger has been in use for hundreds of years and
State the steps of Merchandise inventory 1) TRANSFER THE BEGINNING INVENTORY FIGURE Debit INCOME SUMMARY for beginning inventory amount. Credit MERCHANDISE INVENTORY fo
What careers can i do with these subjects?
intro
Personal Account is an account for use by an individual for their own requirements. It is a relative term to distinguish the said accounts from those accounts for corporate or busi
A good purchased for $480 sells for $700. If the store's operating expenses are 30% of cost, what is the percentage markup on cost? A. 1.5% B. 10.57% C. 15.83% D. 4
what are the stages of operational research
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