what is accounting concept? explian in brief?

Answer Posted / govind

CONCEPTS ON WHICH BASIC ACCOUNTING IS DONE.
4 TYPES.

ACCURAL
MATCHING
REVENUE
DUAL.

Is This Answer Correct ?    0 Yes 5 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Explain me fair value accounting?

601


What are the activities that are included in the cash flow statement?

571


In which book we can learn in detail of closing stock valuation. And if any site is available kindly help.

1393


What is the Project Accounting in case of Real Estate or Construction Co`s ?

1942


2. A budgeted profit statement of a company working at 75% capacity is provided to you 2 below, Sales 9,000 units at Rs. 32 Rs. 2,88,000 Less: Direct materials Rs. 54,000 Direct wages 72,000 Production overhead: fixed 42,000 variable 18,000 1,86,000 Gross profit 1,02,000 Less: Administration, selling and distribution costs: fixed 36,000 varying with sales volume 27,000 63,000 Net profit 39,000 You are required to: (a) Calculate the breakeven point in units and in value. (b) It has been estimated that: (i) if the selling price per unit were reduced to Rs. 28, the increased demand would utilise 90% of the company's capacity without any additional advertising expenditure, and (ii) to attract sufficient demand to utilise full capacity would require a 15% reduction in the current selling price and a Rs. 5,000 special advertising campaign. You are required to present a statement showing the effect of the two alternatives compared with the original budget and to advise management which of the three possible plans ought to be adopted, i.e., the original budget plan or (i) above or (ii) above. (c) An independent market research study shows that by spending Rs. 15,000 on a special advertising campaign, the company could operate at full capacity and maintain the selling price at Rs. 32 per unit. You are required to: (i) Advise management whether this proposal should be adopted.

1823






How Can We Justify the,Real A/C & Nominal A/C?

1785


A motor car purchased on 1 apr 10 worth rs 10000 taking a loan from bank of rs 8000. Emi will b 500 pm inclusive of interest rs 100 pm.all repayments are done by bank overdraft. Prepase bshEet & P&L as at 31 mar 10

1621


Dear sir, In tally what is list of cost centres? and what is the list of cost categories?

1536


My boss said to me "Calculate Tds for the month of may 2018 from bank statement". my Boss business is Proprietorship of Construction and designing work. How I can calculate Tds liability.

923


Tell me what do you believe makes a successful account executive?

588


WRITE ABOUT ANY 1 "WOMENS ARE BEST MANAGEMENT PERSON" "IF UR FINANCE MINISTER OF INDIA" "V R RESPONSIBLE FOR OUR ENVIRONMENT"

1909


Where do we show "Dividend paid in FFS ,either in FFO or in FFS? what is teh concept behind?

1552


Tell me the types of accounts involved in double entry book-keeping?

629


Debit Card Come Under Which group in Tally 9?

1469


How to prepare finalization accounts?

710