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The main function of accounting is to accumulate accounting data so as to calculate the profit and loss made through the business firm throughout and also to KNOW the financial position of the business on a specified date. A business can ascertain this through preparing the last Accounts. Preparation of last accounts from a trial balance is the last phase of the accounting process. Final accounts include the preparation of Trading and Profit and Loss Account and the Balance Sheet, though the Balance Sheet is not an account but merely a statement. Trading and Loss and Profit Account are simply one account that is usually divided in two sections. The first section is termed as the Trading Account and the second section the Loss and Profit Account. In condition of manufacturing concerns, last Accounts also comprise the Manufacturing Account.
journal entry and balance sheet for acquisition
Explain in Details Return on Investment
To finish this scenario, use the Sample Size Estimator Sheets A, B of this file. In the previous years of the twenty-first century, annual salaries for federal employees in the
To finish this scenario, use the Confidence Interval Calculator Sheets 1,2,3. The Sacred Grounds coffee shop in Dead horse, AK, is considering changing its coffee brewing units
what is accounting Standard
These are amounts owed to the company through debtors. This is the purpose why we also utilize the term sundry debtors to indicate the amounts owed to the firm. This signifies amou
SQB Corporation reports sales of $10,000,000 for Year 2, with a gross profit margin of 40%. 20% of SQB's sales are on credit. Year 1 Year 2
1. Trading account is prepared so as to calculate gross profit or loss, whereas the function of the profit and loss account is to disclose net profit or loss. 2. Trading account
QUESTION Social accounting is a way of measuring and reporting on an organisation's social and ethical performance. It is principally concerned with offering a complementary fo
Within today's international business environment, there has been a great deal of discussion about the convergence of United States accounting standards (also known as GAAP), with
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