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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.
Company took loans of rs 400000from mbl and issued 8% debentures of rs 500000b as collateral security pass journal entries regarding issue of debentures if any and show the loan in
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Controller: Controller another name for Chief Accountant is generally the head of the whole region of accounting, including internal audit. He is generally in charge of all types
A swap valuation method which involves summing and computing the present value of each and every future net settlement and would be required by the contract terms either future s
Distributions to owners are reducing in equity of a particular business enterprise resulting from transferring rendering services, assets or incurring liabilities by the enterprise
Q. Explain about realization principle? Realization of revenue Under the realization principle the accountant doesn't recognize (record) revenue until the seller obtains the ri
Periodic Review
explain the 5 modern techniques of accounting
State and local income taxes Some states also withhold state income taxes. Texas doesn't. If state withholds taxes, there will be form similar to the federal one to determine t
On December 31, 2013, University Theatres issued $500,000 face value of bonds. The stated rate is 8%, and interest is paid semiannually on June 30 and December 31. The bonds mature
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