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An accounting is a service function. The main accounting executive through whatever name he is termed as holds a staff position except inside his own department where he exerts authority. It is in contradistinction to the roles played through production or marketing executives who hold line authority: The responsibility of the accountant is advisory in character. He works by the authority of the main executive. The accounts and or finance departments do not exercise direct authority over line departments. In decentralized structure along with a number of divisions and units, the accounting executive though exercises what is termed as the functional authority over all the accounting staff deployed in differ segments.
There are two facets to the function of the accountant. For the top managers he works like a watchdog and for lower and middle level managers he serves as 'helper'. The watchdog role is generally performed by 'score-keeping' task of accounting and reporting to all levels of management. The 'helper' role is usually performed through the task of directing managers' attention to problems and assisting them in resolving problems. Mutual understanding and rapport among the accountant and the manager, in the tasks of attention-directing and problem-solving can be enhanced if accountant and his staff frequently interact along with the line managers and guide them in matters related with preparation of budgets and control documents along with that they might not be conversant. This will instill confidence among line managers regarding the reliability of reports.
Question : The several evaluative criteria for evaluating revenue measure or system are: ? Yield ? Political expediency ? Ease of administration ? Consistency
I purchased equipment for 3,000 but only paid 1,000 of it and put rest of it on an account. how would I put that into a asset=liabilities+ owns equity equation?
Q. Explain Financial accounting information? A Financial accounting information is precedent in nature that reporting on what has happened in the past. To facilitate comparison
on 1 april,2007,X Ltd. makes an issu of 10,00,000 equity shares of rs.10 each payable as follows: on application-rs.3;allotment-rs.5;on first call rs.2(3 month after allotment). ap
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Gracie invested P12000 cash in the business.
The Kauai Surf Company sells high-end surfboards to tourists. The inventory is purchased from a manufacturer in Honolulu.
An estimated liability: 1. Is an unknown liability of a certain amount. 2. Is a known obligation of an uncertain amount that can be reasonably estimated. 3. Is a liabil
1. For each of the following accounting assumptions/principles, explain a business transaction: (a) Accounting Entity Assumption (b) Going Concern Assumption (c) Matching Prin
Federal income tax Except specifically exempted, all income (illegal and legal) is subject to personal income tax. Withholding depends on 1) employee's gross earnings, 2) emplo
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