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Illustrate the cases of financial accounting
?Enron, an energy-trading business which is based in Texas, and was accused of entering into complicated financial arrangements in an attempt to obscure losses and to inflate profits
?WorldCom, a major long-distance telephone operator in US that was accused of reclassifying $3.9 billion of expenses so as to falsely inflate profit figures that business reported to its owners (shareholders) and to others.
what all things do we have to treat in revaluation account
Determine the additional cash a company could obtain from its working capital accounts if it can improve its average collection period by three days and inventory turnover by 0.5 t
State and local income taxes Some states also withhold state income taxes. Texas doesn't. If state withholds taxes, there will be form similar to the federal one to determine t
what are the types of assests
Periodic Review
Q. What is accrual basis of accounting? In the following illustration, notice that every business transaction affects two or more accounts in the ledger. As well note that
Q. What is Unbilled training fees? A company may possibly perform services for customers in one accounting period while it bills for the services in a different accounting peri
what is accounting
what are the internal sources of accounting?
what are the disadvantages of just-in-time?
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