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Q. What is Public accounting?
Public accounting firms offer professional accounting and related services for a fee to organizations, other companies, and individuals. An accountant may perhaps become a Certified Public Accountant (CPA) by passing an examination prepared and graded by the American Institute of Certified Public Accountants (AICPA). The exam is managed by computer. Additionally to passing the exam CPA candidates should meet other requirements which include obtaining a state license. These necessities may vary by state. A number of states necessitate a CPA candidate to have completed specific accounting courses and earned a certain number of college credits five years of study in many states worked a certain number of years in industry, public accounting, or government and lived in that state a certain length of time before taking the CPA examination. Since the year 2000 five years of course work were required to become a member of the AICPA.
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Q. Explain about trade discount? A trade discount is a percentage deduction or else discount from the specified list price or catalogue price of merchandise. Companies utilize
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List of things to include in a trial balance before adjustments
basic accounting Assignment
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Q. Define purchase discounts and purchase returns? Two general deductions from purchases are (a) purchase discounts and (b) purchase returns and allowances. In the general ledg
WHAT DO YOU MEAN BY ACCRUAL CONCEPT
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