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How accounting helps in Internationalisation of businesses
Internationalisation of businesses has created a need for accounting rules to have an international reach. It can no longer be presumed that users of accounting information relating to a specific business are based in the country in which business operates or are familiar with accounting rules of that country. Hence, there has been increasing harmonisation of accounting rules across national frontiers.
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Determine the term - Working capital and current ratio Determining these ratios would help a business determine if will have enough capital to operate and can meet their debts.
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A machine valued on the books at $8500 was sold on credit to $8000.
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