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Benchmarking
A process by which a company reassesses its established business practices by comparing them with the best practices of other organizations. This process is designed to give a manager with an understanding of how the best performing company performs same activities and processes. By studying the best practices of other organizations, the target is to identify actions that develop a rigid performance.
what does office stationery at year end classify as? asset or expense?
Journal Entries are recorded on a double entry system like debit and credit concept. In order to record a journal entry the following steps require to be followed. ? Enter the J
Q. Prepaid expenses and deferred charges? Prepaid expenses, deferred charges -- assets already paid for, which are being used up or willexpire. Insurance paid for in advance is
Q. Misstatement of accounting information? The FASB describes materiality as the magnitude of an omission or misstatement of accounting information that in the light of surroun
Q. Example of lower-of-cost-or-market method? A company may perhaps apply LCM to each inventory item such as Monopoly each inventory class (such as games) or total inventory. T
I am doing a report on finding the major challenges in the future of my university with regards to their revenue and expenses. I have to discuss the main financial obstacles face
The book of Deven Verma could not be tallied. The account transferred the difference of Rs. 1.270 in the suspense account on the debit side. the following mistakes were found later
Why it is important for independent auditor to be a member of a professional body?
Revenues emerge in the Income Statement credit column of the work sheet. The two revenue accounts in the Income Statement are credit column for Micro Train Company are service reve
Q. What do you mean by Capitalize? Capitalize -- to capitalize means to record an expenditure on balance sheet as an asset,to be amortized over the future. Opposite is to expen
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