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Q. Objective of Recording business transactions?
- Use the account as the essential classifying and storage unit for accounting information.
- Articulate the effects of business transactions in terms of debits and credits to different types of accounts.
- List the points in the accounting cycle.
- Record the results of business transactions in a journal.
- Post journal entries to an account in the ledger.
- Organize a trial balance to test the equality of debits and credits in the journalizing and posting process.
- Use and Analyze the financial results-horizontal and vertical analyses.
Q. Illustrate the Financial accounting process? In this section we describe the accounting equation as the framework for the entire accounting process. Then we demonstrate you
budgeting?
I am requesting for literature review and past studies on CDS.
Fund flow deals with transaction within financial year (One year) while Cash flow Statement record only the cash transaction.
Q. What is Asset cost and Estimated residual value? Asset cost: The asset cost is the sum that a company paid to purchase the depreciable asset. Estimated residual value:
Q. What do you mean by Overhead? Overhead -- a cost that doesn't vary with the level of production or sales and generally a costnot directly involved with sales or production.
They are likely to tests for tact, diplomacy, and with descriptive skills.
Q. What is Passage of title in transpotation? Passage of title is a term that point to the transfer of the legal ownership of goods. Title to the goods usually passes from sell
how do i prepare a multilevel and single step income statement
Q. Measurement in financial statements? In December 1984 the FASB issued Statement of Financial Accounting Concepts No. 5 The Recognition and Measurement in Financial Statement
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