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Accounting objectives Accounting has two main objectives: To assist control over the assets and liabilities, and the income and expenditure of the enterprise; and To
DELEGATION A trustee cannot deleget unless: 1. It is necessary or in the ordinary course of administration; or 2. Authorised by the trust instrument; or 3. Authorise
DEBTOR'S PROPERTY AT COMMENCEMENT OF BANKRUPTCY 1) Doctrine of "relation back" : The trustee's title to the debtor's property is deemed to relate back to the commencement o
what is the implication of applying accounting concept wrongly
what is the implication of applying accounting concepts wrongly
Consolidated acccounts 1AS 27 therefore requires that the holding a company should include the financial results of the subsidiary company in its own financial statements. The
a) A company has 7000 obsolete toys carried in inventory at a manufacturing cost of $6 per unit. If the toys are reworked for $2 per unit, they could be sold for $3 per unit. If th
ACTS OF BANKRUPTCY The following are the acts of bankruptcy on which a petition may be founded: (a) Assignment of property to trustee: whereby one gives up all his proper
Fund flow Math problem and solution.
Determine the accounting aspects of business Accounting scandals can have a profound effect on all those connected with business. Enron scandal, for instance, ultimately led t
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