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What is accounting?
Accounting is concerned with analysing, collecting as well as communicating financial information. Purpose is to help people who use this info to make more informed decisions. If financial information which is communicated isn't capable of improving the quality of decisions made, there would be no point in producing it. Sometimes impression is given that purpose of accounting is basically to prepare financial reports consistently. Though it's true that accountants undertake this kind of work, it doesn't signify an end in itself. Ultimate purpose of the accountant's work is to give people better financial information on which to base their decisions.
Q. Explain the Auditing Standards? Auditing Standards - Guidelines to which an AUDITOR adheres. Auditing standards encompassauditor's professional qualities, as well as her or
DEEDS OF ARRANGEMENT (D of A) 1. Nature of a D of A : To avoid the expense and delay involved in a bankruptcy, a debtor in trouble may make a private arrangement with the
PROTECTION AGAINST CLAIMS The trustees may protect themselves against claims after discharge in the following ways: 1. As regards liability for rent and other obligations und
Enumerate the scope and utility of management accounting.
State the relationship between return and risk This relationship between return and risk has significant implications for setting financial objectives for a business. Owners wil
SE CTION A QUESTION 1: Below is a trial balance of a manufacturer of boots for the local market. Trial balance as at 31st December 2012 Dr Rs
Absorption costing is a cost accounting method that tries to charge all direct costs and all production costs of an organization to specific units of pr
These are the indirect costs that are related with manufacturing. Absorbed costs involve expenses like insurance, or property taxes for the building in which the production process
#question.how to account enginering cost
1. A stock sells for $10 a share. you purchase 100 shares for $1000 and after a year, the prices rises to $17.50. What will be the percentage of return on your investment if you bo
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