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Q. Illustrate a simple accounting system?
James Stevens was captivating an accounting course at State University. as well he was helping companies find accounting systems that would fit their information needs. He recommends one of his clients to acquire a software computer package that could record the business transactions and prepare the financial statements. The licensing agreement with the software company specific that the basic charge for one site was USD 4000 and that USD 1000 must be paid for each additional site where the software was used.
James was pleased that his advice to acquire the software was followed. Though he was upset that management wanted him to install the software at eight other sites in the company and did not intend to pay the extra USD 8,000 due the software company. A member of management stated that the software company will never know the difference and besides everyone else seems to be pirating software. If they do discover out we will pay the extra fee at that time. Our expenses are high sufficient without paying these unnecessary costs. James supposed he might lose this client if he didn't do as management instructed.
Q. What are Service companies? Service companies carry out services for a fee. This group comprise law firms, accounting firms and dry cleaning establishments. The early sectio
Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
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Q. Understand how to account for transportation costs? FOB terms are particularly important at the end of an accounting period. Goods in transit after that belong to either the
Benefites of Management accounting information To obtain this benefit, businesses have become more 'customer driven' (which is, concerned with satisfying customer needs). This
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
nWhat is the implication of applying accounting concepts wrongly.imum 100 words accepted#
what is the accounting?
on 1st july,2008,machinery purchased rs10,000 for cash from bhim.give journal entry and prepare ledger accounts.
Q. Explain about accounting applications? Early on accounting applications were in accounts receivable, payroll, accounts payable, and inventory. Within some years programs exi
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