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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.
normative and positive
objective of working capital management and profitability
VESTING OF PROPERTY IN TRUSTEES The settlor must transfer the property to the original trustees in the proper legal manner. Similar transfers must be made on a change of truste
you are aceo of acme ,inc located in united states .you use the discounted pay back period method and accept all projects that pay back in hree years.a project that will cost 5,500
GOLD MOUNTAIN SKI RESORT CASE You work for a venture firm and have been asked to analyze a proposal from a group of investors interested in building a new ski area in Colorado. The
On January 1, 2014, Offshore Corporation erected a drilling platform at a cost of $5,420,142. Offshore is legally required to dismantle and remove the platform at the end of its 6
Interstate Manufacturing produces brass fasteners and incurred the following costs for the year just ended: Materials and supplies used Brass
ORDER OF PAYMENTS The bankrupt’s estate must be distributed in the following order. 1. Cost and charges: Costs and charges properly incurred in administering the estate mu
Mr. Wong currently running a small manufacturing business. The Trial Balance of the business at 31 March 2011 is as follows:
Explain the term - Providing a service One way of viewing accounting is as a form of service. Accountants provide economic information to their 'clients', who are numerous user
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