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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.
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.
Steps in recording business transactions Look at Exhibit 5 to observe the steps in recording and posting the effects of a business transaction. Note that a source document offe
Pro forma Financial Statements In accounting, a financial statement in which the amounts begin are fully or partially estimates; from the Latin for "as a matter of form."
Q. Explain Accounts payable? Accounts payable are amounts owed to suppliers meant for goods or services purchased on credit. Accounts payable are usually due in 30 or 60 days a
Find the balance at the end of 6 years of $5000 investment in an account with a nominal annual rate of interest of 2.5% compounded quarterly over the first two years and then gro
Q. What is Passage of title in transpotation? Passage of title is a term that point to the transfer of the legal ownership of goods. Title to the goods usually passes from sell
S olvency Ratios (Long Term): These Ratios measure the long term financial provision of the firm. Creditors and Bankers are mainly interested in liquidity. But shareholders, and
Question 1: Briefly explain the following costs terms: Variable costs and fixed costs Semi- variable costs and semi-fixed costs Past costs and future costs.
Q. Define Current assets? Current assets are cash and other assets that a business is able to convert to cash or uses up in a relatively short period one year or one operating
Q. Illustrate Exchange-price concept? Exchange-price (or cost) concept (principle). The majority of the amounts in an accounting system are the objective money prices determine
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