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Q. Cash collection as point of revenue recognition? Several small companies record revenues and expenses at the time of cash collection and payment which may not take place at
Q. Explain business entity concept? Suppose for instance that you own two businesses 1) a physical fitness centre and 2) a horse stable. As per to the business entity concept y
How the use of different accounting policies affect the financial performance of different entities operating within the same industry
Weekly tasks or assignments (Individual or Group Projects) will be due by Monday and late submissions will be assigned a late penalty in accordance with the late penalty policy fou
Has accounting become too interesting? In recent years, accounting has become front-page news and has been a key talking point among those connected with world of business. Reg
The list of accounts below and the unadjusted balances of these accounts were taken from the ledger of the Manville Corporation at the end of their accounting period, March 31,
Trend Analysis : In the relative and common size financial statements, the data cannot be identified whether it is abnormal or normal as an essential standard is absent. To con
Q. Why we need book value? Book value -- total assets minus total liabilities. Book value also meansvalue of an asset as recorded on the company's financial reports or books. B
HOW TO RECORD INVENTORY AT NET REALISABLE VALUE ON JOURNAL100 words accepted#
Balance Sheet A balance sheet is a statement for presenting an organization financial position at a particular date, mostly at the end of an accounting period; also calle
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