Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Q. Modifying conventions on Materiality?
The Materiality is a modifying convention that permits accountants to deal with immaterial (unimportant) items in an expedient however theoretically incorrect manner. The basic question accountants must ask in judging the materiality of an item is whether a knowledgeable user's decisions would be different if the information were presented in the theoretically correct manner. Otherwise the item is immaterial and may be reported in a theoretically incorrect but expedient manner. For example for the reason that inexpensive items such as calculators often don't make a difference in a statement user's decision to invest in the company they are immaterial (unimportant) and may be expensed when purchased. But because expensive items such like mainframe computers usually do make a difference in such a decision they are material important and must be recorded as assets and depreciated. Accountants must record all material items in a theoretically correct manner. They may perhaps record immaterial items in a theoretically incorrect manner merely because it is more convenient and less expensive to do so. For instance they may debit the cost of a wastebasket to an expense account rather than an asset account even though the wastebasket has an expected useful life of 30 years. It merely isn't worth the cost of recording depreciation expense on such a small item over its life.
Financial accounting reports are mandatory to be prepared by the firms, and are scrutinized by auditors, creditors or Government or Tax authorities. But management accounting recor
Part 1: Students should consult with appropriate personnel in order to undertake an assessment of the client’s financial needs. Students must undertake an interview / consultation
what is assets and its type ?
Q. Describe about Cash role in balance sheet? Cash includes deposits in banks obtainable for current operations at the balance sheet date plus cash on hand consisting of un-dep
define Macrs in detail
Suppose you want to have $5,000 saved at the end of five years. The bank will pay 2% interest on your money. How much would you have to deposit today to have the $5,000 you want
explain the separate set of books method for maintaining joint venture accounts
Q. Show Periodicity concept? As per to the periodicity (time periods) concept or assumption an entity's life can be meaningfully subdivided into time periods (such as months or
example of increase asset, decrease owner equity
Describe how the QuickZoom feature of QuickBooks does or does not provide the same help in the statement of cash flows as it does in the income statement.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd