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What is Post closing trial balance
This statement would only show permanent accounts with a balance; all temporary accounts must have a zero balance. Credits and Debits must balance.
Fiscal Period is any period of time covering the complete accounting cycle. Twelve consecutive months is a fiscal year irrespective of starting dates.
Q. Explain about Staff accountant? Let us travel with Tracy as she begins her career at the staff level. At the onset, she works directly under a senior accountant on each of h
Benchmarking A process by which a company reassesses its established business practices by comparing them with the best practices of other organizations. This process is desi
1. State the equity equation. 2. Which account represents the beginning equity figure? 3. In which accounts are changes to equity recorded? 4. How do drawings affect the calculati
What is the Fair labor standard act Fair labor standard act (Wages and Hours Law) establishes standards for minimum wages, child labor, overtime pay, required payroll record
Why is a provision for depreciation made in the financial statements? A to charge the cost of non-current assets against profits B to make a provision for repairs C to mak
Acquired a shop on monthly rent for Rs. 3,000 after paying cash Rs. 36,000 as advance rent ??
Selling the rights to the quantity owing by debtors to a finance company for an agreed amount (which is a lesser amount of than the figure at which they are recorded in the account
what all things do we have to treat in revaluation account
Q. Show Approximation of periodicity? Approximation and judgment because of periodicity To offer periodic financial information accountants must often estimate expected uncolle
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