Learning objectives of accounting, Accounting Standards

Assignment Help:

Q. Learning objectives of Accounting?

Describe and identify the three basic forms of business organizations.

differentiate between the three types of activities performed by business organizations.
Illustrates the purposes and content of the income statement, balance sheet, statement of retained earnings and statement of cash flows.
State the fundamental accounting equation as well as describe its relationship to the balance sheet.
Using the underlying concepts or assumptions and analyze business transactions and determine their effects on items in the financial statements.
Prepare a statement of retained earnings, an income statement and a balance sheet.
Use and Analyze the financial results-the equity ratio.

Related Discussions:- Learning objectives of accounting

Rohan., A firm of manufactures, whose books are closed on 31st December, pu...

A firm of manufactures, whose books are closed on 31st December, purchased machinery for Rs.50,000 on 15 January, 2010. Additional Machinery was acquired for Rs.10,000 on 1st July,

Accounting principle, A company values its loose tools for inclusion in its...

A company values its loose tools for inclusion in its balance sheet. The tools are not extremely valuable and the company uses estimating while valuing them. Which type of accou

Imputed interest, Imputed Interest - If no interest or an unrealistic amoun...

Imputed Interest - If no interest or an unrealistic amount of interest is charged in a salve involving certain kinds of deferred payments, then transaction would be treated as if r

Profit and loss account, Loss and Profit Account is prepared so as to disce...

Loss and Profit Account is prepared so as to discern whether the firm has made net profit or suffered net loss for a specified accounting period. Such account deals along with indi

Development costs in its financial statements , AB Limited is a manufacturi...

AB Limited is a manufacturing entity that runs a number of operations including a bottling plant that bottles carbonated soft drinks. AB has been developing a new bottling process

Accountant, We have a demonstration instrument that was paid for years ago....

We have a demonstration instrument that was paid for years ago. How do we get it back on our books as an asset?

Accounting Practices, Describe three examples of financial accounting pract...

Describe three examples of financial accounting practices and for each, explain how the practice assists in the decision making process

Working capital, When is working capital most likely to increase? A when...

When is working capital most likely to increase? A when the business increases its selling prices B when the credit period allowed to customers is reduced C when the credit pe

Trading account, Organize the Trading Account from the subsequent details: ...

Organize the Trading Account from the subsequent details: Office Rent Rs. 5,000;Purchases Rs. 80,100; Opening stock Rs.25, 000; Stock at the end Rs. 15,000; Carriage Inward Rs.

Net sales, This includes both cash and credit sales of goods. From this dem...

This includes both cash and credit sales of goods. From this demonstration of total sales, sales return also termed as Returns Inward, if any then is deducted in the inner column a

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages