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Within today's international business environment, there has been a great deal of discussion about the convergence of United States accounting standards (also known as GAAP), with
1. Trading account is prepared so as to calculate gross profit or loss, whereas the function of the profit and loss account is to disclose net profit or loss. 2. Trading account
are exploration costs assets to Mining companies?
The balance sheet lists assets, capital and liabilities separately. This is an accepted convention about the assets and liabilities are demonstrated in sub groups and listed in the
payment made to vendor but rejected by bank
What take place in a rights issue of shares? 1. Any premium on issue is added to a capital reserve. 2. Any type of premium on the issue is added to a revenue reserve. 3. A
procedure followed in govt.system of accounting in india
Standards at International Level: In view of the development of international trade and multinational enterprises, the requirement for standardization at the international level w
The term goods refer to articles that are traded through the firm articles bought for resale. For illustration, for book seller, books are goods, for an electrical store fans, fo
journal entry and balance sheet for acquisition
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