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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.
how do I calculate the adjusting balance
profit margin 2.5%, equity multiplier 2.0,sales $50000, common equity $25000.compute return on common equity.
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
Following are Nintendo's revenue and expense accounts for a recent calendar year. Net sales ¥2,008,622 Cost of sales 1,864,981 Advertising expense 118,908 Other expense, net 397
Remedies available to beneficiary 1) Injunction - to prevent unauthorised action by trustees; 2) Personal action - a trustee is only liable for his own acts and defaul
Members Voluntary Winding Up The company may be wound up by the members themselves without reference to the creditors, if the company is solvent. 1) Declaration of solvency
Tally & Co. incurred a pretax operating loss of $100,000 in its first year of operations for both financial reporting and income tax purposes. However, it expects to be profitable
what is the different between prorfit and margin prorfi
1.what are the various fields of accounting and how do they differ? 2. how are revenues and expenses affect the owners' equity account? 3. why are revenues and expenses recor
State the Nature of the reports produced - Financial accounting Financial accounting reports tend to be general-purpose which is, they contain financial information which would
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