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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: Inventory Turnover = Cost of Sales ¸ AverageInventory. Numerous businesses have numerous general turnover levels. Ratio is significantin comparison with the ratio for previous periods or ratio for similar businesses.
ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account. elaborate on the statement and explain why journal is neces
what is the accounting?
Q. Adjustments for accrued items? Accrued items need two types of adjusting entries asset/revenue adjustments and liability/expense adjustments. The first group asset/revenue a
The major difference in the statement of retained earnings between a service business and a Merchandising business is A. that the retained earnings statement of a merchandisi
Q. Explain Periodicity assumption of accounting? As-per to the periodicity (time periods) assumption accountants divide an entity's life into months or years to report its econ
Cowhand's Bar-B-Q House went into business on January 1, 2009. The following information is available at December 31, 2009: Sales revenue for the year $30
A key functional area of SAP for Utilities that supports cross-company exchange of settlement data based on international standards like as EDI, XML, and Microsoft Excel. Interc
what is the implication of applying accounting concept wrongly
Woodie Limited issues $5 million in convertible bonds on 1 July 2012. They are issued at the fair value and pay an interest rate of 4 percent. The interest is paid at the end of ea
what is an accounting cycle
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