Interested to Buy Any Domain ? << Click Here >> for more details...
OBJECTIVES OF ACCOUNTING ?
- 9 Answers
- 12718 Views
- IBM, State Bank Of India SBI, I also Faced
- E-Mail Answers
Answer Posted / mohammed enayath ali
A. accounting is a process of recording, classifying,
summarizing, analyzing and interpretation the financial
transactions.
a)Recording: done in journal.
b)Classifying: The work of classifying done in ledger books.
c)Summarizing: This involves presenting the classified data
in a manner which is understandable and useful for internal
end users. This process leads to preparation of the
fallowing statements TB/P&L/B/S
d)Analyzing: Method of classification of the given in the
financial statements (differentiate assets and liabilities)
| Is This Answer Correct ? | 3 Yes | 0 No |
Post New Answer View All Answers
fill in the Blanks Share Holders in Company have _____________Liability
The following Trial Balance was extracted from the books of Chetan.Do you think that it is correct? If not,rewrite it in the correct form. Debits Rs Credits Rs ------------------------------------------------------------ Stock |8250 | Capital |10000 Purchases |12750 | Sales |15900 Returns outward |700 |Returns inwards |1590 Discount received|800 |Discount allowed |800 Wages & salaries |2500 |Scooty |1750 Rent and rates |1850 |Carriage charges |700 Sundry debtors |7600 |Sundry Creditors |7250 Bank Overdraft |2450 |Bills payable |690
What is the Purpose of Preparing Bank Reconciliation Statement?
How to enter PO in SAP
WHAT IS GENERAL LEDGER HOW MANY TYPES OF IT, AND WHEN GL WILL USE IN WHICH SITUATIONS DESCRIBE ME
If its is declared by auditor that business is not going concern that what journal entry will be pass?
Expand---------SDRT?
With a 600 credit score, how to improve my credit rating score?
hey! i have an interview for PO in union bank on 11th feb. can anyone please tell me what major topics should i prepare for? of course npa is there. also cibil and basel basics. is there anything else i should prepare?
Expand-------ATBN
Process of the settlement cycle?
what is the meaning of input vat & out put vat?
how to check which item is sold by the sundry debtors in tally?
What was the most chlleging task you face while working in SAP FI/MM and how did you solve?
I have a existing Oracle applicttions and need to bring one of the new business on it. The new business will use GL, AP and FA. We will use existing COA. This business will have 3 sets of books (1- tax book, from April to March; 2- Primary book, from July to June; 3- Reporting book, from July to June); All books will have same currency; HOW DO I TRANSFER DATA FROM PRIMARY BOOK INTO TAX AND REPORTING BOOKS EVERY MONTH OR ON WEEKLY? IS THERE ANY STANDARD ORACLE PROCESS WHICH CAN BE SCHEDULED? THE REPORTING BOOK WILL HAVE DIFFERENT DEPRECIATION METHOD SO HOW DO I NOT TRANSFER DEPRECIATION FROM PRIMARY TO REPORTING BOOK AND DO SEPERATE DEPRECIATION IN REPORTING BOOK FOR THE SAME ASSET THAT IS ALSO IN PRIMARY AND TAX BOOK?. HOW DO I APPROACH ON SETTING THESE NEW SETS OF BOOKS? Thanks, KK
