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Generally Accepted Accounting Principles (GAAP) are guidelines for companies to follow as tehy prepare and issue financial statements. Let's start by getting an understanding of why the guidelines were developed in the first place? Who relies on the financial statements (external users)? What happens if an external user relies on financial statements that are inaccurate? What negative consequences can arise from relying an inaccurate financial statements?
Trustees remuneration A trustee may not receive remuneration except: 1. By order of the court, if the trust is very onerous or the services of the trustee very valuable;
RECEIVERSHIPS: APPOINTMENT OF RECEIVER If a company defaults in payment of principal or interest, or otherwise defaults in observing the conditions contained in debentures issu
Suppose you get a cash bonus of Rs.1, 00,000 that you deposit in a bank that pays 10 % annual interest. How much can you withdraw yearly for a period of 10 years? Solution :
I want to write my thesis on IPSAS 17
In Section we had established an association among the effective and nominal rate of interest where compounding arise n times a year that is as given: r = (1 + k/m ) m - 1
Provisions of the Partnership Act In the event of absence of a partnership agreement/deed or in the event of ambiguity therein, the provisions to the partnership Act will apply
Q. Availability of fresh issue of equity? A fresh issue of equity finance mayn't be readily available to a listed company or may be available on terms that are unacceptable wit
The company selected a suitable site and commissioned a survey and valuation report, for which the fee was £1,500. On the basis of the report the site was acquired for £90,000. Sol
Explain the term - Providing a service One way of viewing accounting is as a form of service. Accountants provide economic information to their 'clients', who are numerous user
1) The detailed information is on the second tab marked "Financials". Enter summarized Balance Sheet and Income Statement information for Cummins into the template on the "Summary
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