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Q. Financial reporting about the economic resources?
The third financial reporting should provide information about the economic resources of an enterprise the claims to those resources obligations of the enterprise to transfer resources to other entities and owners' equity as well as the effects of events, transactions and circumstances that change its resources and claims to those resources. We are able to draw some conclusions from these three objectives and from a study of the environment in which financial reporting is carried out.
Q. Effects of failing to prepare adjusting entries ? Failure to organize proper adjusting entries causes net income and the balance sheet to be in error. You are able to see the
How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
Q. Advantages of Weighted-average? Weighted-average: Advantages because of the averaging process the effects of year-end buying or not buying is lessened. Drawback Manipulation
what is meaning by parallel accounts
Illustrate about the matching principle This principle requires that expenses and revenue be recorded in accounting period in which they occur. For a net income figure to be a
The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. NELSON COMPANY Unadjusted Trial Balance January 31, 2013 Debit Credit Cash $
WHAT DO YOU MEAN BY ACCRUAL CONCEPT
the scope of operation research in modern management
Q. Explain about Exchange-price or cost principle? When resources are transferred between two parties such like buying merchandise on account the accountant must follow the exc
journal entry fire insurance claim received for previous year is 50% of its original claim
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