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Accrual basis of accounting means that the costs or revenues of events are renowned in the period in which they happens; by the cash flows may take place in another accounting period.
Like for a period of July 05 - October 05, if the organization was because of receive 1000K from an individual X but has not received yet for some reason, will receive in November 05. It would be still be accounted for in the period July 05 - October 05 and not the period initial from November 05.
Q. What is current ratio in terms of accounting? The current ratio specifies the short-term debt-paying ability of a company. To find the current ratio we divide current assets
Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.
A time of 12 consecutive months used by an organization to account for and report the results of its operations.
Q. Describe about Cash role in balance sheet? Cash includes deposits in banks obtainable for current operations at the balance sheet date plus cash on hand consisting of un-dep
pls explain expenses incurred
what is the BRS
It is reduction of taxes where from the income is produces and regarding services to be taxed there are about 120 services which are taxed in India for provision of service tax
How many kind of Assets?
From the following details, prepare a balance sheet acid test ratio = 2.5 current ratio = 1.5 net working capital = 10,00,000 fixed assets =? Share capital =? Proprietary ratio =
does immaterial items have to be recorded
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