Objectives of accounting concepts and standards, Accounting Basics

Assignment Help:

After going through this section, you should be capable to:

Appreciate the needs for a conceptual framework of accounting;
understand and appreciate the Generally Accepted Accounting Principles (GAAP), and
Expand an understanding of the significance and necessity for uniformity in accounting practices.

Related Discussions:- Objectives of accounting concepts and standards

What is investment banking, Investment banking is a is an instrument which ...

Investment banking is a is an instrument which is used by the financial organization to take a improved investment decision like issuing IPO stocks bond etc.

Accrued revenue., what is accrued revenue

what is accrued revenue

When youre using accounting software, when youre using accounting software ...

when youre using accounting software why would you use hot keys and shortcuts a.to quickly access commands b.to input data for you c.to start the program d.to write checks

What do you mean by equities, Q. What do you mean by Equities? Assets w...

Q. What do you mean by Equities? Assets were described earlier as the things of value owned by the business or the economic resources of the business. Equities are every claims

What do you mean by unearned revenue, Q. What do you mean by unearned reven...

Q. What do you mean by unearned revenue? A liability/revenue adjustment concerning unearned revenues covers situations in which a customer has transferred assets typically cash

Accounting entity assumption and matching principle, 1. For each of the fol...

1. For each of the following accounting assumptions/principles, explain a business transaction: (a) Accounting Entity Assumption (b) Going Concern Assumption (c) Matching Prin

Explain about the payroll register, Explain about the payroll register ...

Explain about the payroll register This is a summary of gross earnings, deductions and net pay for all employees for a specific payroll period. Register illustrates all amounts

Nance''s restaurant, Nance's Restaurant, a local independent restaurant, is...

Nance's Restaurant, a local independent restaurant, is evaluating new point-of-sale (POS) systems and must determine if a new installation is feasible. A new POS installation wou

The percentage analysis of changes of corresponding items, The percentage a...

The percentage analysis of changes of corresponding items in comparative financial statements is referred to as horizontal analysis. A. True B. False

What do you understand by revenue, Q. What do you understand by Revenue? ...

Q. What do you understand by Revenue? Revenue -- Amounts received by or due a company for services or goods it provides tocustomers. Receipts are cash revenues. Revenues can al

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages