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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.
Information concerning the capital structure of Piper Corporation is as follows: December 31, 2011 2010 Common stock 150,000 shares 150,000 shares Convertible preferred stock 15,00
Q. Calculate infant mortality rate? Mid year population 440000 Late fatal death 29 No. of live birth 5200 No. of infant death 423 No. of mate
Q. Define about SME FINANCE? SMEs contribute in a significant way to many economies in the world. Moreover generating income, in often large proportions in relation to GNP acro
Long-term Debt 10% notes payable $1,000,000 7% convertible bonds payable 5,000,000 Discount
Inter Company balances One of the companies may appear as receivable (debtor) or payable (creditor) in the other company’s books. Just like in accounting four branches, such in
Beginning balance 24,000 cash Sales 250,000 Gross profit 45% of sales Accounts receivable increase by 24,000 Accounts payable increased by 51,000 Inventory increased by 98,000 Sell
Q. Evaluate Equivalent annual cost? There are a number of techniques to answering this question and two are presented. The first difficulty is in deciding which broad approach
depreciation in question is given more and in adjustment is less. What would be in the profit and loss account?
PROOF OF DEBTS The following rules apply as to the proving of debts: 1) A creditor has no right to vote or receive dividends until his debt is proved to the satisfaction of th
DELEGATION A trustee cannot deleget unless: 1. It is necessary or in the ordinary course of administration; or 2. Authorised by the trust instrument; or 3. Authorise
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