what is concept of accounting
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Answer / sheetal kumar garg
ACCOUNTING IS THE ART OF MAINTAIN OF RECORDS.
| Is This Answer Correct ? | 17 Yes | 3 No |
Answer / kiran kumar.r
The concept of accounting is to find out the performance of
the year and position of the entity at the end year by
following the accounting process i.e
recording transactions
posting them into ledger accounts
preparing trail balance
finally preparing financial statements
| Is This Answer Correct ? | 9 Yes | 1 No |
Answer / dasharath kurella
dual aspect concept
money mesurement concept
cost concept
bussiness entity concept
and etc is accounting concepts
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / kamlesh pandey
GOING CONCERN CONCEPT
BUSINESS ENTITY CONCEPT
DUAL ASPECT CONCEPT
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / laxmikant shinde
Account is a systemetic & signtific recording of all
transction in a bussion.
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / ashish sakalley
Accounting is the art of classifying, summarising &
recording of data.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / manish singh tomar
in accounting many concepts
like as...
dual aspect concept
money measurement concept'
cost concepts
business entity concept
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / rajeshgupta
The main concept of Accounting is the art of recording,
classifying, summarizing &
recording of data with systematic manner which we can find
out the result easily.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / srinivas rao
accounting is the art of recording classifying summarizing
the
day to day money based transactions of the company and give
the information to bod's and publics
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / satyendra singh
Accounts is summerised records of transactions which is
related to a particular institutions or concern
| Is This Answer Correct ? | 0 Yes | 1 No |
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The Tabula Manufacturing Company has been in business for one month. At the end of month the company had the following accounts: Materials used K 5 000.00 Direct labour 10 000.00 Indirect labour 3 000.00 Indirect materials 2 000.00 Labour fringe benefits 1 000.00 Supervisor’s salary 1 000.00 Depreciation Machinery 2 000.00 Miscellaneous factory overhead 1 000.00 Heat and light 500.00 Insurance on plant 1 500.00 The company processed two jobs during the month with costs as follows: Job 101 Job 102 Materials cost K3 000.00 K2 000.00 Direct labour cost K6 000.00 K4 000.00 Direct labour hours 4 000.00 3 000.00 Machine hours 2 000.00 1 000.00 The company does not use a predetermined rate for factory overhead. The rate is computed at the end of each month. Required Use both the direct labour hours and machine hours to compute: 1) The overhead rates for the month (5 pts) 2) The overhead cost for each job (5pts) 3) The total cost for each job (10 pts) 4) Briefly describe the difference between Job order and process costing, citing relevant examples (5 pts).
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