Answer Posted / zam
Accounting is the art of:-
Identifying = Whether it is purchase,sale or expense
transaction
Measuring = Can be measured in monetary terms or not
Recording = Preparation of journal entries
Classifying = Posting into ledger
Summarizing = Preparation of financial statements
Interpretation = through ratios and the resulted figures of
financial statements
Therefore, accounting is solution of complex
business problem which provides better solution with broad
accounting concepts and principles
| Is This Answer Correct ? | 15 Yes | 1 No |
Post New Answer View All Answers
journal entry for goods withdrawn for personal use
What are negative postings?What are Credit memos ?Payment Requests ?
Explain me what is important to effective market analysis?
GRIR is the clearing account so it the balance will be zero, so how it will impact with balance sheet and why we require to reconcile that account ?
whether sale and purhases of cf agent are his and he is liablte to pay VAT on sale of goods and pay the tax to govt collected by him one more being receiving commission of saleproceed during the year whose stock would be it it is of c f agent or principal manufctrurer who has send the goods to sold on his behalf
How can pass reverse entry to close the account. If the Asset sides is greater then liabilities side and vice versa, then what can I do.
how intangible assets are entered in B/s. plz send me the answer of this question in my e-mailid-prabhatsingh873@gmail.com
were you happy with the grades you achieved at a-level?
Please explain what do you do to increase revenues? What are your tactics, techniques, and sales methods?
if cheque bounced what we received from customers and payed to bank what entry should we create in single entry system
What knowledge should financial accountant have?
What is journalizing?
What does an accurate trial balance suggest?
My company was granted a bank facility of 750,000 for guarantee, performance bond, advance payment, retention guarantee and 100,000 bank overdraft. These facility amount was never added to the company account. a. What is the entry? b. Lien over fixed deposit for 50,000 to be brought upfront c. Lien over gradual buildup for fixed deposit 50,000 by transferring 10,000 monthly from customer's account to separate call account. d. After a month, we had an overdraft of 22,000. What will be my entry? e. After 3 months, we have a construction project and was asked for advance payment of 24,000 with a 25% margin? f. Another company asked for performance bond of 44,200 with 25% margin.
Can you tell me entry tax will be applicable on Spectacles purchase from u s a
