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Q. Describe the accounting procedures?
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Briefly introduced the body of theory underlying accounting procedures. In this section we discuss accounting theory in greater depth. Currently that you have learned some accounting procedures you are better capable to relate these theoretical concepts to accounting practice. Accounting theory is a set of fundamental concepts and assumptions and related principles that explain and guide the accountant's actions in identifying measuring, and communicating economic information. To a few people the word theory implies something abstract and out of reach. Understanding the theory at the back the accounting process but helps one make decisions in diverse accounting situations. Accounting theory offers a logical framework for accounting practice.
1. What are financial accounting, management accounting, and finance? What are their similarities and differences? 2. What information does a balance sheet provide? How do acco
Explain the types of Financial Statements Income Statement . This is a summary of a business's expenses and revenue for a specific period of time. It ONLY shows expenses and r
Windsor Company will receive $100,000 in 7 years. If the appropriate interest rate is 10%, the present value of the $100,000 receipt is ? Answer: PV = FV (PVIF) = $100,000 x 0.5132
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Verify the amount to be paid within the discount period for purchase with an invoice price of $7,745, subject to credit terms of 2/10, n/30.
One or more phases in the operation cannot supply all the items it makes concurrently.
Q. Example of Net purchases? Only the description would change. If Hanlon had previously paid the account the debit would be to Cash instead of Accounts Payable ever since Hanl
Ask question Discuss the export financing under the deferred payment system.#Minimum 100 words accepted#
Why to and by using in journal, trading a/c, p&l a/c and ledger?
Weighted-average under periodic inventory procedure the weighted-average method of inventory costing is a income of costing ending inventory using a weighted-average unit cost. Com
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