Explain accounting entity concept, Accounting Basics

Assignment Help:

Q. Explain Accounting entity concept?

Business entity concept (or accounting entity concept). Data assemble in an accounting system relates to a specific business unit or entity. The business entity concept presumes that each business has an existence separate from its creditors, owners, employees, customers, other interested parties and other businesses.

Related Discussions:- Explain accounting entity concept

Example of net realizable value, Example of net realizable value? To ex...

Example of net realizable value? To exemplify a necessary write-down in the cost of inventory presume that an automobile dealer has a demonstrator on hand. The dealer obtained

Prepare data flow diagrams, Examine the present system and recoginize speci...

Examine the present system and recoginize specific weaknesses that must be addressed by a new improved system. As part of your analysis, prepare data flow diagrams (context, log

Shares of common stock - retained earnings, XYZ Technology had $640,000 of ...

XYZ Technology had $640,000 of retained earnings on December 31, 2010. The company paid common dividends of $50,000 in 2010 and had retained earnings of $500,000 on December 31, 20

Explain horizontal analysis and using the financial results, Q. Explain hor...

Q. Explain horizontal analyses and using the financial results? The computation of dollar and or percentage changes from one year to the next in an item on financial statements

Tax specialist, While mainly students are aware that accountants frequently...

While mainly students are aware that accountants frequently assist their clients with tax returns and other tax issues, few are aware of the large number of diverse and challenging

Balance Sheet Classifications and Relationships, Balance Sheet Classi?catio...

Balance Sheet Classi?cations and Relationships Shelley and Co. has the following balance sheet elements as of December 31, 2012. Land. . . . . . . . . . . . . . . . . . . . . . . $

Which accounting concept this?, All relevant information and explanations a...

All relevant information and explanations about a business have been included in its financial reports

Holding companies, how the minority interest will be calculated?

how the minority interest will be calculated?

Accounting standards 14, explain accounting standard 14

explain accounting standard 14

Excess payment to supplier, What process for excess payment to supplier I w...

What process for excess payment to supplier I would like know without adjusting invoice that means how supplier will send back surplus amount how do in oracle apps? Ans

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages