OBJECTIVES OF ACCOUNTING ?
Answer Posted / manohar reddy
Objects of accounting:
1. Ascertain the results of operations during a period
2. Ascertain the financial position.
3. Maintaining a control over assets
4. Planning in respect of cash
5. Providing information to tax authorities and other
government agencies.
6. To properly match income with expenses.
7. To provide a reliable set of data with which to prepare
financial reports for analysis purposes (for owners,
lenders, investors, etc).
8. To provide a reliable set of data with which to report
income for tax purposes.
Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
if we have credit 50 % rg23c part ii first and not credit next balance 50 % .when we have do?
does MIS reports are used in Tally n Focus software? if yes how it is used in focus software? for AR n AP
Breif notes about accounting standards
what are the purpose for the preparation of cost centre ?
Which entry we pass self entry like cash withdraw for ourself
how i got knowledge about custom and excise i want rate list of custome and excise how we summit return of custom and excise , Is it include with ser. tax
At Present Situation in sensex market is low, It converts the whole human being life into the depth. When and how it will change? Is it possible?
Hi frnds, can any one tell me how much funds has to be there to convince financially sound during the visa interview and what supporting documents has to be produced. What is backlogs means.....hope the best known will answer.
WHAT ARE EQUITY SECURITIES?
What are Home Equity Loans ?
You been asked to prepare a training class for completing expense statements. What points will you emphasize to insure accurate expense statements are submitted?
You are required to show the effect of each of the following changes on profit and Break-Even-Volume from the information given below: Sales 50,000 units Rs. 5.00 per unit Variable cost Rs. 3.00 per unit Fixed cost Rs. 70,000 Changes: (i) Price changes by 20%. (ii) Volume decreases to 40,000 units. (iii) Variable cost increases to Rs 3.50 per unit. (iv) Fixed cost decreases by 10%.
Assets are held in the Business for the purpose of____________________
which kind of expenses or Income will come under direct expenses or Income ?
what is status report? and flow report?