what is accounting
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Answer / srikanth
Accounting the Systematic process of Recording, Classifying
and Summarising the Business Transactions.
| Is This Answer Correct ? | 14 Yes | 0 No |
Answer / ashwini
accounting is the systematic process of recording,
classifying, and summarising the business transactions
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / shanid
Accounting is about providing information to others.
So the basic purpose of accounting is derivation of
information.
The double entry system of accounting enables an
organization to derive the information which are only
related to accounting elements called account heads or
ledger account.
For example :
To know the value of furniture with the organization a
furniture a/c is maintained
To know the amount of expenditure incurred on account of
salaries a salaries a/c is maintained
The more the information is needed needed by the
organization the more the elements (accounting heads) that
are to be maintained by the organization.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / abdul hannan
accounting is a very broad concept but actually accounting
means recording of day to day transaction of the business
to keep the track records of the movement of the goods,
cash inflow and outflow as well. .
accounting refers to management of accounts on the daily
basis to knoe the opening n closing balances. . .
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / guest
Accounting is a art of recording,classifying,summarising in
a significance manners and in tern of many transaction and
event which are at laeat financial character of interpreting
the result thereof.
| Is This Answer Correct ? | 1 Yes | 0 No |
DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in haryana. The company's sales in the year ending on 31st march 2007 were Rs.1000 million(Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of the company is 14 percent.The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30 million per annum. The plant can be sold for Rs.200 million: (a) The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annum installment of interest and repayment of principal. (b) A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: (1) Should the company expand its capacity? show the computation of NPV. (2) What is the annual installment of bank loan? (3) calculate the quarterly installment of the financial institution loan. (4) should the company borrow from the bank of from the financial institution?
Does anybody know anything about BirlaSoft? I got a job offer, they sent me a contract to sign and return, but thank God they didn't ask for any money! But, they said they would send me a check in the mail. And as my first "task" I would have to use that check to order a bunch of accounting software, and I would need to purchase this software ONLY from the vendors that THEY provide. Is this a scam to just get money? I'm wondering if they "own" the vendor they "work" with and launder money that way. I asked the person who was getting my information, as far as my name and address to send the check to, Why would I have to buy software to install in my home computer anyway? Couldn't they just send me a link for the software to download? I'm afraid of the check being fake. Because, if I deposit the check into my checking account and it turns out to be fake, then I'll owe the bank all that money! Hope to hear from someone soon. Thanks.
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