accounting terminology, Accounting Basics

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what the accounts maintained in retail business

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Show the chart of accounts, Q. Show the Chart of accounts? Chart of acc...

Q. Show the Chart of accounts? Chart of accounts -- a listing of all accounts or categories into that businesstransactions would be classified and recorded. Every account gener

Trading and profit and loss account, state why carriage inwards is stated o...

state why carriage inwards is stated on the trading account

Explain about merchandise inventory, Q. Explain about Merchandise inventory...

Q. Explain about Merchandise inventory? Merchandise inventory is the quantity of goods assumed by a merchandising company for resale to customers. Merchandising companies verif

What are accrued items explain with example, Q. What are Accrued items expl...

Q. What are Accrued items explain with example? Delayed items consist of two types of adjusting entries asset/expense adjustments and liability/revenue adjustments. For instanc

Explain about lower-of-cost-or-market method, Q. Explain about lower-of-cos...

Q. Explain about lower-of-cost-or-market method? The lower-of-cost-or-market (LCM) method is the inventory costing method that values inventory at the lower of its historical c

Concept of flow of funds, Concept of Flow of Funds :  It refers to the 'Cha...

Concept of Flow of Funds :  It refers to the 'Change in Funds' or 'Change in Working Capital'.  That is, any increase or decrease in Working Capital. In business, daily, numerous t

Financial statement analysis, FINANCIAL STATEMENT ANALYSIS Following th...

FINANCIAL STATEMENT ANALYSIS Following the preparation of the Financial Statements, they are examined by the business for the reason of analyzing the presentation of the compan

Calculate the tax, Sue, Scarlett and Sally are in a partnership together pr...

Sue, Scarlett and Sally are in a partnership together providing accounting services. The partnership uses the cash basis to account for income tax.

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