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Explain the term- Not-for-profit organisations
There are many organisations that don't exist mainly for the pursuit of profit. Instance include:
?charities
?clubs and associations
?universities
?local government authorities
?national government departments
?churches
?trade unions.
Such organisations also need to produce accounting information for decision making purposes. Different user groups need accounting information about these kinds of organisation to help them to make decisions. These groups are often the same as, or similar to, those recognized for private-sector businesses. They may have a stake in future viability of organisation and may use accounting information to check that wealth of the organisation is being properly controlled and employed in a way which is consistent with its objectives.
Minority interest (MI) When the holding company owns less than 100% of the ordinary share capital of the subsidiary company then the other balance is held by minority interest. T
a. Explain a major factor which led to the introduction of International Financial Reporting Standards (IFRS). b. Explain how users of financial information benefit from IFRS.
What are the Advantage of limited liability Advantage of limited liability, though, imposes certain obligations on such companies. To start up a limited company, documents of i
Transaction Entry Information: May 1 Owener H.Hadi invested $40,000 in the business
Mr. Wong currently running a small manufacturing business. The Trial Balance of the business at 31 March 2011 is as follows:
Characteristics of a will 1) Dispositionary: A will disposes the deceased’s property. 2) Formality: For a will to be valid, it must be written and signed by the d
A business had always made a provision for doubtful debts at the rate of 5% of debtors. On 1 January 2017 the provision for doubtful debts brought forward from the previous year wa
Received 10,000 contribution from bill london in exchange for common stock What 2 accounts are used
what the meaning of the economic consequences of accounting information quality with examples?
Income Statement Preparation The following information is taken from the records of Wadley's Car Wash for the year ended December 31, 2012. Income taxes . . . . . . . . . . . . .
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