Objectives of final accounts, Accounting Standards

Assignment Help:

Objectives of final accounts

describe Final Account;
know their objectives and preparation of Trading and Loss and Profit Account;
find out the difference among Trading Account and Loss and Profit Account, Gross Profit and Net Profit;
explain and understand the terms used in a balance sheet;
apply simple principles of valuation of assets;
Duty of depreciation in valuation and determining the exact profit of a firm;
know Adjustment entries;
The significance of adjustment entries to ascertain the financial position of a business firm.

Related Discussions:- Objectives of final accounts

Machine installments.., i buy machine 70% cash 30% installments.i have char...

i buy machine 70% cash 30% installments.i have charged 100% cost to asset and capital so when i pay first installment i debit installment expense and credit bank so my question is

Standards at international level, Standards at International Level: In vie...

Standards at International Level: In view of the development of international trade and multinational enterprises, the requirement for standardization at the international level w

Accounting error, the books of deven verma could not be tallied.

the books of deven verma could not be tallied.

Balance sheet, Balance sheet is related along with reporting the financial ...

Balance sheet is related along with reporting the financial position of an entity on a specific point in time. Such position is conveyed in terms of listing all the things of value

Gaap and ifrs, how much does a paper costs regarding differences and simili...

how much does a paper costs regarding differences and similiarities of gaap and ifrs for 4 companies

The book of Deven Verma could not be tallied. The ac, The book of Deven Ver...

The book of Deven Verma could not be tallied. The accountant transferred the difference of Rs. 1,270 in the suspense account on the debit side. The following mistakes were found la

American municipal bond assurance corporation, The first municipal bond ins...

The first municipal bond insurance company was created in 1971 as a supplementary of MGIC Investment Corp. of Milwaukee; now usually called as Ambac Financial Group, Inc. The Ameri

Help with case problem, Hello, I am interested in help on an ACCO 310 case...

Hello, I am interested in help on an ACCO 310 case which is due on Tuesday the 13th at 12 PM. Please contact me at your earliest convenience and hopefully we can work something ou

Human resource accounting, QUESTION The recognition of human capital by...

QUESTION The recognition of human capital by modern businesses has led to the development of Human Resource Accounting (HRA) Required- (a) Explain the following terms-

Explain accounting structure, Q. Explain accounting structure? The acco...

Q. Explain accounting structure? The accounting structure of a profit seeking business is an information system designed to provide relevant financial information on the resour

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages