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Q. Measurement in financial statements?
In December 1984 the FASB issued Statement of Financial Accounting Concepts No. 5 The Recognition and Measurement in Financial Statements of Business Enterprises recitation recognition criteria and providing guidance for the timing and nature of information included in financial statements.15 the recognition criteria recognized in the Statement are fairly consistent with those used in current practice. The Statement indicates though that when information more useful than currently reported information is available at a reasonable cost it must be included in financial statements.
Difference between Debit and Credit Debit- used to record employer's FICA taxes, state unemployment taxes and federal unemployment taxes incurred during an accounting period
Fund flow deals with transaction within financial year (One year) while Cash flow Statement record only the cash transaction.
A bond sinking fund investment is started on January 5, 2010, by transferring $10,000 in cash to the fund. This $10,000 is invested and earns $1,100 during 2010. The entry to rec
Received $170,000 cash from Electronic Arts, Inc. for service revenue earned in January.
Q. Explain about Period costs? Period costs are costs not noticeable to specific products and expensed in the period incurred. Administrative and Selling costs are period costs
can you show me a sample balance sheet with retained earnings included?
does immaterial items have to be recorded
Q. Explain journal entry? A journal is a sequential arranged in order of time record of business transactions. A journal entry is the stacking of a business transaction in the
uses of accounting as a software enginner
Q. What is Public accounting? Public accounting firms offer professional accounting and related services for a fee to organizations, other companies, and individuals. An accoun
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