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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.
AL MASA a sole trader,decided to install a new machine to use
Q. What do you mean by Stock? Stock -- a certificate (or electronic or other record) which indicates ownership of a portion of acorporation; a share of stock. Preferred stock p
Distributions to owners are reducing in equity of a particular business enterprise resulting from transferring rendering services, assets or incurring liabilities by the enterprise
Account titles and explanation column The first row of an entry shows the account debited. The second row shows the account credited. Notice that we notch the credit account t
A bond sinking fund investment is started on January 5, 2010, by transferring $10,000 in cash to the fund. This $10,000 is invested and earns $1,100 during 2010. The entry to rec
Journal voucher is the voucher in which all the adjustment related entries and non cash non bank transactions are come ijournal eg-dep, some of them book the bills in journal and
Q. Explain about stable dollar assumption? In the United States accountants make one more assumption regarding money measurement that the stable dollar assumption. Under the st
Q. Why we need book value? Book value -- total assets minus total liabilities. Book value also meansvalue of an asset as recorded on the company's financial reports or books. B
determine how the disallowance of LIFO will impact U.S. multinational firms that report under IFRS
what is Accounts payable process?
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