concepts and conventions, Financial Accounting

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explain accounting concepts and conventions

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What is capitalized interest, Q. What is Capitalized Interest? Capitali...

Q. What is Capitalized Interest? Capitalized Interest - INTEREST cost incurred during time required to bring an ASSET tothe condition and location for its intended use and incl

How accounting objectives can be achieved, How Accounting objectives can be...

How Accounting objectives can be achieved There are two main ways by which this can be achieved: All the accounting records are maintained at the head office; or Each

Which transaction results in an increase in revenues, Which of the followin...

Which of the following transaction results in an increase in revenues? a. receipt of accounts receivable b. purchase of inventory c. receipt of principal from bank loan d. delivery

Assumption of the eoq model, The basic EOQ model is depends on the subseque...

The basic EOQ model is depends on the subsequent assumption: 1) The forecast usage or demand for a specified period, usually one year, is identified 2) The usage/demand is ev

Investments carried as trading securities, Did ford realize any gain or los...

Did ford realize any gain or loss from securty sales during 2009?

Troubled debt restructuring, Troubled Debt Restructuring - Agreement betwee...

Troubled Debt Restructuring - Agreement between CREDITOR and DEBTOR which amends the terms of a DEBT which has little chance of being paid in accordance with its contractual terms.

Overhead efficiency variance, The following information is for the third qu...

The following information is for the third quarter of this year:   Planned Actual   Production 92,000 units

Subsidiary company exclusion features, Subsidiary company exclusion feature...

Subsidiary company exclusion features 1) The standard does not require consolidation of a subsidiary acquired when there is evidence that the control is intended to be temporar

What are the financial statements, Q. What are the financial statements? ...

Q. What are the financial statements? Significant Accounts - An account is significant if there is more than a remote likelihood that account could include misstatements which

Modern techniques economic order quantity, The economic demand quantity can...

The economic demand quantity can also be found out with the assist of a graph. In this technique ordering cost, carrying cost and total inventory costs as per various lot sizes are

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