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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. 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
There are over 5,000 banks in the United States-more than 10 times the number per person than in other industrialized countries. A recent study suggests that the long-run average c
HOW TO DO DOUBLE ENTRY QUESTIONS
Case Study : Briana Hope has had a long-standing love affair with technology and an appetite for apps. She believes that business owners that are not taking advantage of apps to
Two companies enter into loan agreements on 1 March 2012. On that date they also enter into an agreement to swap the loans. The details for each company and loan are: L R R Hood
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
Q. What are adjusting entries? When you start to analyze business transactions you saw that the evidence of the transaction is typically a source document. It is any printed or
The formula for computing additional paid-in capital in excess of par is shares of stock times Saturday
Identify and explain the two ratios that are used to assess the solvency of a business.
Q. Neutrality of accounting information? The Neutrality signifies that the accounting information must be free of measurement method bias. The primary concern must be relevance
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