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Q. Describe the Functions of Controller?
(1) Planning and budgeting: - It comprises capital expenditure planning, profit planning, budgeting, inventory control, sales forecasting etc.
(2) Financial Accounting: - He establishes a appropriate system of accounting controls it and prepares financial statements such as profit and Loss Account and Balance Sheet etc.
(3) Cost Accounting: - He set up a cost accounting system appropriate to the business and controls it.
(4) Data Processing: - It comprises the collection and analysis of business data.
(5) Internal Auditing: - He manages internal audit as well as internal control.
(6) Annual Reports: - He prepares annual reports as well as various other reports needed by the top management.
(7) Information to Government: - He organizes annual reports to be submitted to the Government under various laws.
Q. Explain the Adjusting Journal Entry? Adjusting Journal Entry - An accounting entry made into a subsidiary ledger known as the Generaljournal to account for a periods changes
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Q. Explain about Deferred Payment? suppose a person take a loan of a specified amount at a given rate of the interest. he wants to repay this loan together with the interest in
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