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Q. Describe about accounting. Why is it called language of business?
Accounting is known as -an art of recording, classifying and summarizing transactions and events in a significant manner and in provisos of money. It is known as language of business because the financial performance and the financial position of any company need to be conveyed to the stakeholders of any business concern. This can be done by systematically preparing the financial statements and presenting to the interested parties.
A view organizes diagrams into logical groups to explain a particular aspect of the system. It is the abstraction of the system prepared is such a way as to give a perspective of a
10% preference share 336 ooo ordinary share capital 480 000 prepare a statement of profit or loss
You received an email from Carl the operations manager from the California Container division. They produce packaging for cell phones. Carl understands that his product is an imp
Q. Illustrate Periodic inventory procedure? Companies by means of periodic inventory procedure make no entries to the Merchandise Inventory account nor do they maintain unit re
what is the mission of the Accounting and Finance Functional Area
The Bayside Company uses the LIFO cost flow method to value inventory. In the current year, profit at Bayside is running unusually high. The corporate tax rate is also high this ye
What is the implication of applying accounting concepts wrongly
the guinegog is a trader in portable cd-man. His budgeted output is 5000 units per quarter. The following data was available for the year 1998: Direct labour @ $6 Direct material @
In the process of giving information from a business to a prospective buyer, an accountant is requesting a Reconsolidation for last December. What is that?
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