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Current Assets These are assets that will normally be converted in cash within a year or inside the operating cycle. The operating cycle is the duration in time considered by
i need guidance note, expert advisory help or contoveries on AS 13
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
Governing Documents - Official legal documents which dictate how an entity is operated. Governing documents of a CORPORATION include ARTICLES OF INCORPORATION and BYLAWS; a PARTNER
Prepaid Expenses In many conditions, like a custom, some of the item of expenses is generally paid in advance such as rent, taxes, insurance and subscriptions. The rationale of
2. Now assume that you have been asked how to account for the destroyed drilling operation in the Gulf of Mexico in terms of the destroyed rig and lost natural resources. For the p
The term goods refer to articles that are traded through the firm articles bought for resale. For illustration, for book seller, books are goods, for an electrical store fans, fo
The Opening Stock of goods is the stock of goods in hand at the start of an accounting year. It may contain stock of raw material, work-in-progress and finished goods. It appears i
are exploration costs assets to Mining companies?
audit procedurees
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