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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.
need to get assignment done, its corporate accounting.
Notes to financial statements
The open items of an account can only be cleared once you post an identical offsetting amount to the account. In other words, the balance of the items assigned to every other must
Accounting Accounting has evolved and emerged within response to the social & economic requirement of the society. The accounting procedure has its own syntax. The primary sys
Hugo Company has a five-day workweek and pays salaries of $35,000 each Friday. 1. Prepare the adjusting entry required on May 31, assuming that June 1 falls on a Wednesday. 2. Prep
Q. Advantages and disadvantages inventory procedure? Advantages as well as disadvantages of specific identification Companies that utilize the specific identification method of
Explain Discounts allowed.
A high school counselor needs to show whether the teenage pregnancy rate at her school is disimilar from the rate nationwide. She knows that the rate nationwide is 15 %. She random
What steps would you take before approving an invoice for payment? Ans) Following steps should be taken.. ? Certify the invoice once it is matched for checking any holds..
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
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