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Q. Responsibility of Leader and expert?
As a partner in the firm Tracy will have numerous broad responsibilities. She will engage in business development, high-level client service activities, recruiting, strategic planning and office administration and counselling. Moreover serving as the engagement partner on several audits she will have ultimate responsibility for the excellence of service provided to each of her clients. Even though a certain industry or administrative function will become her specialty she will habitually be called upon to perform a wide variety of audit and administrative duties when other partners have scheduling conflicts. She will be expected to serve as a positive instance to those who work for her and will train others in her areas of expertise. At the partnership level what is looked for is leadership capability plus the ability to become an expert in a specific industry or administrative function.
Benchmarking A process by which a company reassesses its established business practices by comparing them with the best practices of other organizations. This process is desi
A baker makes 500 cream-filled eclairs at a cost of $0.72 each. He estimates that 10% of the eclairs will be sold the following day at a reduced price of $0.80 each. Find the mar
Q. Example of perpetual inventory procedure? The Perpetual inventory procedure Companies use perpetual inventory procedure in a range of business settings. In the past companie
Q. Qualitative characteristics of financial reporting? Accounting information must possess qualitative characteristics to be useful in decision making. This criterion is hard t
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
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Accountants frequently cite the going-concern assumption to justify using historical costs rather than market values in measuring assets. Market values are of less implication to a
Q. Common deductions from gross sales? Generally sales are for cash or on account when a sale is for cash the debit is to Cash and the credit is to Sales. While a sale is on ac
How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
HOW TO DO DOUBLE ENTRY QUESTIONS
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