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Q. What are Accounting software packages?
Accounting software packages are normally menu driven and organized into modules such as accounts payable, general ledger, accounts receivable, invoicing, inventory, payroll, fixed assets, job cost and purchase order. For example general journal entries are made in the general ledger module and this module contains all of the company's accounts. The accounts payable module records every transaction involving credit purchases from suppliers and payments made to those suppliers. The accounts receivable module records every sale on credit to various customers and amounts received from customers.
Definite the meaning of accounting equation
Any activity which you perform is assist if you comprise a set of rules to guide your efforts. Moreover, you determine that these rules are of more value to you if they are standar
office supplies on hand at year end amounted to 3000
Profitability refers to a company's ability to obtain profits and positive cash flows and to its ability to obtain an adequate return on invested capital or a company's ability to
2. One never goes alone, hens operation research employs different tools to accomplish: its own tasks, discus each and every tool employed by or throughout its doers.
Q. What do you mean by Inventory turnover? Inventory turnover -- a ratio which indicates amount of inventory a company uses tosupport a given level of sales. Formula is: Invent
Q. Describe about Fixed Assets? Fixed Assets can't be quickly turned into cash without interfering with business operations.Fixed assets comprise buildings, land, machinery, fu
Q. Define purchase discounts and purchase returns? Two general deductions from purchases are (a) purchase discounts and (b) purchase returns and allowances. In the general ledg
Users cannot access the simultaneous programs ( just like Forms) until unless the program is attached to a responsibility by a ?Request Group?. Therefore the responsibilities give
the consequences of non-compliance of each of the accounting concepts.
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