Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / hr sreepada bhagi
The question is about Accounting Principles and not about
Debit-Credit rules for the three types of accounts mentioned
above.
principles of Accounting refers to the basic or fundamental
concepts & conventions for recording the transactions and
reporting. These Principles are broadly divided in to A)
Concepts & B)Conventions.
A few examples of Accounting Concepts are - 1.Business
Entity, 2.Accounting Period, 3.Money Measurement, 4.Accrual
(Matching), 5.Materiality, etc. and Conventions like
1.Consistency, 2.Consistency, etc. (This list is incomplete
& without explanation)
For detailed knowledge, refer Book on Accounting Principles
or Fundamentals of Accounting or Advanced Accountancy
| Is This Answer Correct ? | 6 Yes | 2 No |
Post New Answer View All Answers
---------is the main or principle book of accounts
what is ment by master in tally?
Can you please help me calculate the pre tax profit for credit card for 2014 using the following Assumptions. Request you to list the steps used. Charges Late fee £12 per occurrence Over limit fee £10 per occurrence Cash fees 3% of cash withdrawal value Annual Fee £25 per account, per year Interchange 1% of transaction value KPIs Accounts overdue 10% per month Accounts over limit 15% per month Average APR 30% Balances revolving 90% of balance Average balance £900 at end of 2013 Expected growth in average balance (2014) 10% per annum Assumptions Open accounts 200,000 at 2013 year-end New accounts booked 5,000 per month Annual operating cost £50 per open account Cost of Acquisition £50 per account Provision rate 9% of total balances Annual cost of funds 4% by balance Charge off Unit charge-off rate in 2014 11% of accounts at 2013 year-end Unit charge-off rate in 2014 0% of accounts booked in 2014 Post charge-off recoveries 20% of balance Account Transactions Monthly turnover 5% of total month end balances Cash advances 20% of monthly turnover Additional Assumptions Please state any additional assumptions you have made to calculate your answer Thanks in advance,
Dear sir i had been called for ntpc interview and gd next month..please guide me for it!
what is sales life cycle???
What does my credit score mean?
What is the value of inventory as per Financial Accounts (AS2) and as per Cost accounts? Someone told me that as per cost accounts only works costs is considered in CARR while for FA, AS2 is followed with cost or NRV whichever is lowewr? Please explain the difference.
How can a Society be converted to a Private Limited Company in the Real Estate Industry and at the same time have the least tax liability upon it's profits earned during the financial year closing
what do you mean by accounting (or) why accounting ? ( generally we have to speak about our achivements and goals)
a) What are the Golden Rules of Accounting? What are the 14 Principles of Accounting
Straight line method to using Indian company names
give me only one transactions in both side (debit&credit) should be in real accounts
Please do tell me about the questions which are asked at BACS FINAL ROUND.
Interest earned on investments is an__________
Q A project cost Rs.6,00,000. It yields annually a profit of Rs.80,000. After depreciation of 12.5% p.a.but before tax of 50%.Calculate payback priod.
