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Determine the Features of Accounting information system
Accounting information system must have certain features which are common to all valid information systems within a business. These are:
? Identifying and capturing relevant information (in this case financial information);
? recording the information collected in a systematic manner;
? Analysing and interpreting the information collected;
? reporting the information in a manner that suits the needs of users.
THE SURPLUS CAPITAL METHOD Under this method, the initial amounts repaid to partners are in order to reduce their capitals to amounts such that these are now in the same ratio
What happens to capital when a project is completely funded by retained earnings?
Effect of disclaimer The trustee may disclaim onerous property consisting of: Land burdened with onerous covenants; Stocks and shares; Unprofitable contracts, or
Open "Hoyle CPA: Earnings Per Share." Under "Free Questions" select "Financial Accounting & Reporting."
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The company incurs a payroll payable of $645 per weekday of operations. The mondays of january are the 3rd, 10th, 17th, 24th, and the 31st. Paydays are every other Friday with payd
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Clarity and transparency The terms of the payment package must be clear and transparent so that directors and shareholders are in no doubt as to when rewards have been earned o
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