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Q. Explain Financial accounting information?
A Financial accounting information is precedent in nature that reporting on what has happened in the past. To facilitate comparisons among companies this information should conform to certain accounting standards or principles called generally accepted accounting principles (GAAP). These in general accepted accounting principles for businesses or governmental organizations have developed through accounting practice or been established by an authoritative organization. We illustrate several of these authoritative organizations.
In earlier times in history, wealthy people utilized 'stewards' to direct their property. These stewards made an account of their stewardship to their owners periodically. This ide
Full form= Winter compensation from contributions.
Lower of Cost or Market Inventory Bob's Jewelry Company's inventory records indicates the fol
Q. Prepare a source document? A source document typically supports the evidence of the transaction. A source document is any printed or written evidence of a business transacti
There are over 5,000 banks in the United States-more than 10 times the number per person than in other industrialized countries. A recent study suggests that the long-run average c
What is the accounting equation?
Which accounting policies demonstrate the matching principle? 1 charging depreciation on non-current assets 2 revaluing non-current assets on a irregular basis 3 using the re
difference between credit and debit
i want to know the concepts of journal
Q. Define the Product costs? Product costs are costs earns in the acquisition or manufacture of goods. Since you will see in the next section included as product costs for purc
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