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Q. What is Public accounting?
Public accounting firms offer professional accounting and related services for a fee to organizations, other companies, and individuals. An accountant may perhaps become a Certified Public Accountant (CPA) by passing an examination prepared and graded by the American Institute of Certified Public Accountants (AICPA). The exam is managed by computer. Additionally to passing the exam CPA candidates should meet other requirements which include obtaining a state license. These necessities may vary by state. A number of states necessitate a CPA candidate to have completed specific accounting courses and earned a certain number of college credits five years of study in many states worked a certain number of years in industry, public accounting, or government and lived in that state a certain length of time before taking the CPA examination. Since the year 2000 five years of course work were required to become a member of the AICPA.
Q. Example of Net purchases? Only the description would change. If Hanlon had previously paid the account the debit would be to Cash instead of Accounts Payable ever since Hanl
differenciate between a cash book and a ledger
What is uses of Purchases journal Purchases journal (SPECIAL JOURNAL) Used to record only credit purchases of merchandise-may be only one column which is posted to two accou
How the use of different accounting policies affect the financial performance of different entities operating within the same industry
Management accounting and financial accounting Accounting is generally seen as having two different strands which are: ? Management accounting that seeks to meet accounting
Q. Common deductions from gross sales? Generally sales are for cash or on account when a sale is for cash the debit is to Cash and the credit is to Sales. While a sale is on ac
how is withdrawaL OF goods by owner for personal use treated in the books
Q. What do you mean by depreciable asset? A depreciable asset is a manufactured asset such like a building, vehicle, machine or piece of equipment that provides service to a bu
Gwinnett Park Co. reported net income of $506,600 for its fiscal year ended September 30, 2014 . At the beginning of that year, 150,000 shares of common stock were outstanding. On
Components of Profit and Loss Account The Profit & Loss Account intend to check profit. It has three parts. 1) The Trading Account: These account the money in (revenue)
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