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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.
The intestate leaves one surviving spouse, but no child or children The surviving spouse is entitled to: 1. The personal and household effects of the deceased absolutely: "per
The concern uppermost in Sonia Burdett's mind at present was how to effectively communicate to the firm's Board of Directors the soundness of her financial policies. Ms. Burdett is
Receiver necessary statement The receiver may, if necessary, require the statement to be submitted by: Past or present officers of the company Persons who have taken
Preferential debts These are almost the same as in bankruptcy; with the addition that any person who has advanced money for the payment of wages has the same priority as the pe
Items reducing the deficit: Items reducing the deficit would include: (a) Profits from trading; (b) Estimated profit on the realisation of assets. Notes: (a) Whe
Q. Explain about Material event? Subsequent Event - Material event which takes place after the end of accounting period and before the publication of an entity's FINANCIAL STAT
On January 1, 2011, Doty Co. redeemed its 15-year bonds of $2,500,000 par value for 102. They were originally issued on January 1, 1999 at 98 with a maturity date of January 1, 201
Cash flow Estimation and Capital Budgeting XYZ Electronics, Inc. is a manufacturer of eBook Readers. Its current model is selling excellently. However, in order to cope with t
effects of public debt on production, d
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