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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.
Posting closing entries When closing entries are entered in the General Journal, they must appear on the next line after Adjusting Entries. The words "Closing Entries" must be
Q. Balance of the Merchandise Inventory account? The balance of the Merchandise Inventory account is a cost of the inventory that should be on hand. This fact is a major reason
Q. Example of Income statement? Income statement demonstrates the income statement Lyons prepared. The focal point in this income statement is on determining the cost of goods
1. (a) Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage. (b) "Ledger is said to be the principal book entry and the t
what is Prepaid expense ?
What is differences in access to financial information Distinction between the two areas of accounting reflects, to some extent, differences in access to financial information.
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Q. General principles of accounting? Organizations that have contributed towards the development of the principles are the 1)American Institute of Certified Public Accountants
Q. What do you mean by Breakeven point? Breakeven point -- the amount of revenue from sales that exactly equals the amount ofexpense. Breakeven point is generally expressed as
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