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Q. Financial statements in European countries?
In a few European countries the financial statements contain secret reserves. These secret reserves occur from a company not reporting all of its profits when it has a very good year. The justification is that the stockholders vote on the amount of dividends they receive every year if all profits were reported the stockholders might vote to pay the entire amount out as dividends. By holding back some profits not merely are the creditors more protected but the company is as well more solvent and has more resources to invest in productive assets. Revenue isn't difficult to define or measure it is the inflow of assets from the sale of goods and services to customers measured by the cash expected to be received from customers. But the crucial question for the accountant is when to record revenue.
Q. What is Estimated useful life? The estimated useful life of an asset is the approximate time that a company can use the asset. Useful life is estimation not an exact measure
Accounting Accounting has evolved and emerged within response to the social & economic requirement of the society. The accounting procedure has its own syntax. The primary sys
Q. Define Current assets? Current assets are cash and other assets that a business is able to convert to cash or uses up in a relatively short period one year or one operating
Credit -- an accounting entry on the bottom or right of a balance sheet. Generally an increase inliabilities or capital or a reduction in assets. Opposite of credit is debit. Every
Determine the specific citation for accounting for each of the following items: 1. Accounts receivables from related parties should be shown separately from trade receivables. 2. T
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A user buys a new transponder for $20. What debit and credit entries would need to be made?
My sister considers Will Smith a _____ actor than Sean Penn. (Points : 2) more better best better
Q. Learning objectives of Horizontal and vertical analysis? - An account is a storage element used to classify and summarize money measurements of business activities of a simi
Some the other concepts, as for example: the Matching concept, the Dual Aspect concept and the Realization concept are discussed in further sections, and as they have not been take
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