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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 comprising these prepayments like current assets is such that if these prepayments were not formed they would need use of cash during the period.
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
During 2011, Lavina Corporation had cash and credit sales of $94,000 and $91,000, respectively. The company also collected accounts receivable of $53,400 and incurred expenses of
Consisting mainly of accounting educators the American Accounting Association (AAA) has sought to encourage research and study at a theoretical level into the concepts or standards
Transfere from U.S GAAP to IFRS case study project
journal entry and balance sheet for acquisition
1. What is a bank? 2. What bank overdraft?
What kinds of risks does a firm like Amazon.com face with respect to safeguarding its assets? What types of controls do you think it already has in place to minimize these risks? G
Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.
procedure followed in govt.system of accounting in india
Review and discuss what the general rules are for agricultural produce using US GAAP and IFRS.
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