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Accounting objectives
Accounting has two main objectives:
If the owners of an enterprise want it to earn more profit, they must increase the volume of turnover. As turnover increases, the enterprise must expand physically; as it expands, it will create departments, which deal with different lines of sales or services; there is a limit to the physical expansion at a single site–and the market there is also limited. Hence, enterprises set up branches, so that expansion can be continued. The need then arises to control the assets, liabilities, income and expenditure of the different departments and/or branches.
Illustration of Accounting treatment of deferred tax A Ltd., bought an item of plant at a cost of £100,000 in year 2000. The estimated useful life of the plant was 5 years and
Q. What do you mean by Auditors Report? Auditors' Report - Written communication issued by an independent CERTIFIED PUBLIC ACCOUNTANT (CPA) describing the character of her or h
Q. Participation of Employees in Management? To facilitate meaningful and effective participation of workers in the management process it was decided in March 1994 that the Cor
Q. What are the Organization Expenditures? Organization Expenditures -Costs of organizing a business or trade or for profit activity before it begins active business. A taxpaye
redemption of debentures by sinking fund method
A huge number of variations of ROT are determined in practice, based upon how "Investment" and "Return" are explained "Investment" may be explained to comprise any of the subsequen
d. Prepare the summary journal entry required to transfer finished component kits from the Cutting Department to the Finishing Department in January. e. Compute the total cost assi
profit margin 2.5%, equity multiplier 2.0,sales $50000, common equity $25000.compute return on common equity.
During the fourth quarter of 2006, Cablevision, Inc., generated excess cash, which the company invested in securities, as follows: On Nov. 12 purchased 1,000 shares of common st
Deferred tax A company may enter into transactions in the current financial period that may result in the firm either paying or saving some tax in the future. The tax that may be
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