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What is accounting?
Accounting is concerned with analysing, collecting as well as communicating financial information. Purpose is to help people who use this info to make more informed decisions. If financial information which is communicated isn't capable of improving the quality of decisions made, there would be no point in producing it. Sometimes impression is given that purpose of accounting is basically to prepare financial reports consistently. Though it's true that accountants undertake this kind of work, it doesn't signify an end in itself. Ultimate purpose of the accountant's work is to give people better financial information on which to base their decisions.
profit and loss account
Potential advantages to BNM Narrative reporting will enable BNM to provide information about social, economic and environmental policies. Many users are influenced by an entit
Describe the concept of full cost recovery with illustrative examples.
Analyze one completed M&A transaction from recent times There are two main requirements (1) an analysis of the strategic and economic rationale behind the merger, and (2) an analy
Long-term Debt 10% notes payable $1,000,000 7% convertible bonds payable 5,000,000 Discount
Use of Professional Skepticism when Evaluating the Results of Testing - AUDITOR should conduct the audit of internal control over financial reporting and audit of financial stateme
Grand Champion, Inc., purchased America's Sweethearts Corporation on January 1, 2013. At the time, America's Sweethearts had $750,000 of identifiable assets and $525,000 of liabili
Jane makes a living renting expensive state of the art surveillance equipment to detectives and nervous spouses. Her average rental period is 27 days. The rental price includes all
The following data has been taken from the management accounting reports from Spinnaker Sales. Div A -Income from operations $1,800,000 Total service department charges $1,600,000.
Do we recognise revenue if it will be assigned to other party ?
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