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Function and scope of the Accounting Standards Board:
The major function of ASB is to originate accounting standards so that the Council of the Institute in India may set up such type of standards. The foundation is one of the members of the International Accounting Standards Committee (IASC) and has decided to maintain the purposes of IASC. The Accounting Standards will be subject below the authority of the council. ASB is also accountable for circulate the Accounting Standards and of persuading the disturbed parties for adopting them in the preparation and presentation of financial statements. ASB will subject management quotes on the Accounting Standards and give illumination on issues arising there from. ASB is also accountable for reviewing the Accounting Standards at periodical time.
Components of Profit and Loss Account The Profit & Loss Account intend to check profit. It has three parts. 1) The Trading Account: These account the money in (revenue)
In the process of giving information from a business to a prospective buyer, an accountant is requesting a Reconsolidation for last December. What is that?
.What method of tax accounting used, Taxation
Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.on..
A baker makes 500 cream-filled eclairs at a cost of $0.72 each. He estimates that 10% of the eclairs will be sold the following day at a reduced price of $0.80 each. Find the mar
Question: Artarmon Ltd uses a job-order costing system and a predetermined overhead rate based on direct labour cost. Estimated manufacturing overheads for the coming year were
Credit -- an accounting entry on the bottom or right of a balance sheet. Generally an increase inliabilities or capital or a reduction in assets. Opposite of credit is debit. Every
how to analyze im a beginner
The beginning capital of the business totals $4,000. If the net income for the period totals $14,000 and the withdrawals by the owner total $3,000, what will be the new capital b
How to perform a basic accounting training progrum ..
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