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Accounting is a significant service activity in business and is concerned along with collecting, evaluating, communicating and recording the results of past events. The history of accounting progress reflects its changing responsibility in response to the changing business and social requirements. Along with the emergence of management accounting, the focus of accounting has been moving from mere recording of transactions to which of aiding the management in decisions.
Accounting can be perceived like an information system that has its inputs, processing outputs and methods. The value of accounting lies in its capacity to offer information to different stakeholders in business so that they could arrive on the exact decisions.
The top accounting personnel are designated along with various nomenclatures. The practice in this regard differs in various companies. The organizational setting for accounting and finance function may also differ in various organizations, depending on their peculiarities, size and nature of business, structural form and technology. At the helm of affairs is generally the Director of Accounts and Finance who is a member of the Board of Directors. Fle is helped by a General Manager who in turn is assisted through Deputy General Manager's in-charge of different sub-functions as accounts, internal audit, finance and data processing, etc. Each of the sub-functions is additionally sub- divided in activities that are the duty of a subordinate manager.
Assume that the following are independent situations recently reported in the Wall Street Journal. 1. National Electric 8% bonds, maturing January 28, 2013, were issued at 112.16.
An invoice for product X totals $1,200 and is dated July 6, 2000 with terms 2/10-60X. If the invoice is paid on September 3, 2000, what is the net amount of payment? A. $912
procedure followed in government system of accounting in india
Difference between SAP MEMORY and ABAP MEMORY? Ans) SAP Memory: Global, user-related memory that enlarges beyond transaction limits. Access to the SAP memory is through SPA/GPA
Lower of Cost or Market Inventory Bob's Jewelry Company's inventory records indicates the fol
Cooperton Mining just announced it will cut its dividend from $4 to $2.50 per share and use the extra funds to expand. Prior to the announcement, Cooperton's dividends were expecte
define accounting. Explain the accounting concepts which guide the accountant at the recording stage.
Q. What is transposition or slide error explain? When the trial balance doesn't balance try re-totalling the two columns. If this step doesn't locate the error divide the diffe
In earlier section, we had illustrated accounting as the language of business. Along with language, accounting has several dialects. There are dissimilarities in terminology. In de
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