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Explain about the Management accounting Management accounting has also changed by becoming more outward looking in its focus. In past, information provided to managers has bee
User account control is meant to allow users to run with standard user rights, as opposed to administrative rights. Administrative rights provide users the ability to read and chan
Q. Responsibility of Senior accountant? As a senior accountant Tracy will be accountable for the day-to-day management of several audit engagements during the year. She will pl
Q. Explain Merchandise inventories? Merchandise inventories are goods supposed for sale. Section 6 starts our discussion of merchandise inventories.
Q. Sales returns affect both revenues and cost of good? When a company sells merchandise to customers then it transfers the cost of the merchandise from an asset account that i
Q. Explain about Percentage of completion method? The percentage-of-completion method makes out revenue based on the estimated stage of completion of a long-term project. To ca
Reliable information is essential before decision makers can make a sound decision involving the allocation of scarce resources. Accounting information is precious because decision
ABC Company uses cash basis accounting for its records. During 2010, ABC collected $400,000 from its customers, made payments of $300,000 to its suppliers for inventory, and paid
On December 31, 2013, a company issues bonds with a par value of $600,000. The bonds mature in 10 years, and pay 6% annual interest, payable each June 30 and December 31. The bon
Q. Describe Retail inventory method? Retail stores often use the retail inventory method to estimate ending inventory at times other than year-end. Taking a physical inventory
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