What is periodicity concept

Answer Posted / srinivas siripuram

Financial transactions are maintained on a periodic basis.
We measure the assets, liabilities, and owner's equity at a
given point in time, which is usually done at least on an
annual basis. To do this income needs to be measured during
the intermittent period.

Is This Answer Correct ?    7 Yes 3 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Dear all We have purchases the dialer & loger with all equipement for setup new call center from simens ltd. i taken to in our books as plant & machinary under fixed assets .So we want the rate of deprecation. Please answered me .

3479


Received cheque Rs 250000 which is exclusive of 5% Security deposit 2.24% income tax and i% miscellaneous recovery. Pass necessary entry

1731


What are the steps involved in converting the trail balance of a foreign branch? Explain the steps involved in incorporating the foreign branch trail balance in HO books

1763


Hi guys, If anyone have gone through the CAPITAL IQ-Junior Research Associate interview then plz let me know about its pattern..and if anyone hav its placement papers or any other information then plz post to me at arshadbasha_mba@rediffmail.com

2394


Meaning of portfolio management?

1618






i have interview in KVB on 12-12-08. so Please send me some questions asked in previous interviews contucted by KVB?

1705


If someone knows about the test pattern of Junior executive accounts than please share.

1703


Ram retired from partnership. The partners with mutual consent agreed to put the capital balance as on the date of retirement as loan to the firm @ 18% pa. The credit balance to his capital account was Rs 325000/- Pass necessary entry

1548


Please tell me about service tax, tds, vat & ITR return with A to Z completely detail.

1614


Expand DEHM

1486


Expand---------PCDB

1591


Zee Ltd. uses material—A for the production of Product M. The safety stock of material A is 300 units; the supplier quotes a delivery delay of two or three weeks. If the company uses 500 to 800 units a week according to the activity levels, the re–order level of material–A will be A. 2300 units; B. 2400 units; C. 2700 units; D. 28 units.

2605


payroll calculation procedure explain completely?

2056


how will i develop my fears in interviewd?

1591


what are the purpose for the preparation of cost centre ?

1613