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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.
You have been engaged internal auditor by the management of Alden proprietary limited to review its internal control over the purchases, receipt, storage and issue of raw material.
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The injection molding department of a company uses an average of 30 gallons of special lubricant a day. The supply of the lubricant is replenished when the amount on hand is 170 ga
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Accounting is a significant service activity in business and is concerned along with collecting, evaluating, communicating and recording the results of past events. The history of
Earned service revenue and received cash As its first transaction in July Metro performed deliverance services for customers and received USD 4800 cash. This transaction improv
A swap valuation method which involves summing and computing the present value of each and every future net settlement and would be required by the contract terms either future s
Q. Income statements - Service and merchandising company? We evaluate the main divisions of an income statement for a service company with those for a merchandising company. To
what is accounting equation and introduction
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