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Q. What is Estimated useful life?
The estimated useful life of an asset is the approximate time that a company can use the asset. Useful life is estimation not an exact measurement that a company must make in advance. But sometimes the useful life is determined by company policy example keep a fleet of automobiles for three years.
Accountants use different procedures for recording depreciation. The method exemplify here is the straight-line method. We confer other depreciation methods in section 10. Straight-line depreciation assigns the similar amount of depreciation expense to each accounting period over the life of the asset.
Materiality Concept: There are several events in business that are trivial or insignificant in nature. The cost of reporting and recording such events will not be justified th
Q. Dividends paid to owners? Stockholders' equity is (a) improved by capital contributed by stockholders and by revenues earned through operations and (b) decreased by expenses
Accountants frequently cite the going-concern assumption to justify using historical costs rather than market values in measuring assets. Market values are of less implication to a
Q. Define the Product costs? Product costs are costs earns in the acquisition or manufacture of goods. Since you will see in the next section included as product costs for purc
Why to and by using in journal, trading a/c, p&l a/c and ledger?
discuss the features of unincoporated associations
Q. Film and television costs- accounting policies? Film as well as television production and participation costs are expensed based on the ratio of the current period's gross r
I want to learning Accouny basic
What is the latest change taking place in the accounting world that will make a big difference to the way accountants prepare accounts?
Q. Show Earnings per share? Earnings per-share amounts are based upon the weighted average number of common as well as common equivalent shares outstanding during the year. Com
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