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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.
How accounting helps in Internationalisation of businesses Internationalisation of businesses has created a need for accounting rules to have an international reach. It can no
What are the implications of applying accounting concepts wrongly?
Q. Example of supplies on hand? On 2010 December 4 Micro Train Company buy supplies for USD 1400 and recorded the transaction as follows Micro Train's two accounts reci
Inventory is habitually the largest and most important asset owned by a merchandising business. The inventory of some companies similar to car dealerships or jewellery stores may c
Graham maintains that formulation and implementation are phases in the strategic management process. Yolanda maintains that evaluation and estimation are also part of this proc
Explain the business assets Withdrawal Withdrawal (Drawing) is removal of business assets for personal use by owner. This transaction decreases the asset taken and value of
The tax payable on a non-salary benefit given to an employee or an associate of the employee. The employer is liable to pay any FBT and may decide to recover the FBT amount from th
format of the account
What should companies not show as non-current assets in their balance sheets? A plant bought on hire purchase B plant fully depreciated C plant held on finance leases D pla
Write short notes on 5 modern accounting techniques
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