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Q. General principles of accounting?
Organizations that have contributed towards the development of the principles are the 1)American Institute of Certified Public Accountants (AICPA) 2)the Financial Accounting Standards Board (FASB) 3)the Securities and Exchange Commission (SEC) 4)the American Accounting Association (AAA) and 5)the Financial Executives Institute (FEI) and 6)the Institute of Management Accounting (IMA). This section describes the following major principles:
- The Exchange-price or cost principle.
- The Revenue recognition principle.
-The Matching principle.
- The Gain and loss recognition principle.
- The Full disclosure principle.
What is articulation
Q. Balance Sheets of a limited company are shown in figure as on 31 st December, 2008 and 2009: Taking into account the following additional information, give a statement
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WHAT IS ACCOUNTING
1. Double declining method 2. Units of production method 3. Sum of year digit method 4. Straight-line method Depreciation Fund Method Insurance Method Annualy Method
Ryan's Express has total credit sales for the year of $178,000 and estimates that 3% of its credit sales will be uncollectible. Record the end-of-period adjusting entry on Decemb
what is meant by credit note
Q. Explain horizontal analyses and using the financial results? The computation of dollar and or percentage changes from one year to the next in an item on financial statements
Scanlon Technologies, Inc. Anne Scanlon founded Scanlon Technologies, Inc., in 1993. The company designed andmanufactured high-tech products that were used in various industrie
What do you recognize by Open Item Managed Account? Ans) Open item management make sures that all items that have not yet been cleared are available in the system. Only after ea
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