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Q. General principles of accounting?
Organizations that have contributed towards the development of the principles are the 1)American Institute of Certified Public Accountants (AICPA) 2)the Financial Accounting Standards Board (FASB) 3)the Securities and Exchange Commission (SEC) 4)the American Accounting Association (AAA) and 5)the Financial Executives Institute (FEI) and 6)the Institute of Management Accounting (IMA). This section describes the following major principles:
- The Exchange-price or cost principle.
- The Revenue recognition principle.
-The Matching principle.
- The Gain and loss recognition principle.
- The Full disclosure principle.
Finance: It is the part of economics that studies the management of money and other assets. In easier terms it can be explained as the commercial activity of providing funds and c
Q. Steps used in retail inventory method? The retail inventory method approximation the cost of the ending inventory by applying a cost/retail price ratio to ending inventory s
Q. Traditional body of accounting theory? Presenting the traditional body of theory first as well as the conceptual framework second gives you a sense of the historical develop
Shareholders and Investors: as shareholders and the other investors have invested their wealth in a business activity, they are interested in understanding periodically regarding
An inflated budgeted expense account
Q. General principles of accounting? Organizations that have contributed towards the development of the principles are the 1)American Institute of Certified Public Accountants
Q. Illustrate accumulated depreciation account? Micro Train place depreciation expense in its income statement and it reports accumulated depreciation in the balance sheet as a
i need systems understanding aid 7th edition answers!
In Exhibit the accurately stated ending inventory for the year 2009 is USD 35000. As a result Allen has a gross margin of USD 135000 as well as net income of USD 50000. The stateme
A method of expressing the relationship between one accounting result and the other, which is intended to give a useful comparison. Accounting ratios helps in measuring the efficie
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