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What is Time orientation
Financial accounting reports reflect position and performance of business for the past period. Essentially, they are backward looking. Management accounting reports, instead, often provide information concerning future performance and past performance. It's an oversimplification, though, to suggest that financial accounting reports never incorporate expectations concerning the future. Sometimes, businesses would release projected information to other users in an attempt to raise capital or to fight off unwanted takeover bids. Even preparation of routine financial accounting reports mainly requires making some judgements about the future.
Closing Entries based accounting question a) Describe the nature of Closing Entries. I.e. what is the purpose of closing entries? b) For each of the f
What is ACOUNTS RECEIVABLE LEDGER Businesses have several customers and individual businesses aren't assigned an account number they are just in alphabetical order. Accounts
Q. What do you mean by Overhead? Overhead -- a cost that doesn't vary with the level of production or sales and generally a costnot directly involved with sales or production.
COMMON ADJUSTMENTS AFFECTING THE PREPARATION OF BALANCE SHEET ARE: 1. Closing stock : Closing stock come into view on the credit side of trading account and assets side of
Q. What do you eman by Purchases account? In periodic inventory procedure a merchandising company uses the Purchases account to record the cost of merchandise bought for resale
Part 1: Students should consult with appropriate personnel in order to undertake an assessment of the client’s financial needs. Students must undertake an interview / consultation
Please help journalize: -On January 1, 2017 Harmony issued 1,500 shares of $22 par, 8% preferred stock for $43,700. -On January 1, 2017 Harmony also issued 2,000 shares of common s
how can i determine the total debt of a commercial bank? Which financial statement do i need to look?
Adjusting Journal Entries = These are the entries which are not recoded and is to be adjusted at the end of the year .For example; Supplies in hand Supplies expense A/C Dr. and
how do we credit debit cash received from owner
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