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summarising involves presenting the already classified data in summarised form.this involve the preparation of balance sheet.
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∙ 11y ago
Vivek Jha
Summarizing involves making trial balance, profit and loss account and balanceshhet .....
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Four phases of accounting?
recording classifying summarizing interpreting
What do you understand by cost accounting?
Cost accounting involves collecting, analyzing and summarizing various courses of action. Then, accounting advises the management on what to do.
What are the purpose and phases accounting?
idenfying measuring recording classifying summarizing
What is four stages in accounting?
4 stages in accounting....1. recording 2.classifying...3.summarizing...4.interpreting
What are the four aspects of accounting?
1) recording 2) classifying 3)summarizing 4) interpreting
What is summarizing in accounting?
The word summarizing used in the accounting field means to prepare the trial balance. This is basically balancing the books at the end of the month or year.
What are the four phases of accounting?
identifying measuring summarizing classifying
Four phases of accounting?
recording classifying summarizing interpreting
What do you understand by cost accounting?
Cost accounting involves collecting, analyzing and summarizing various courses of action. Then, accounting advises the management on what to do.
What are the purpose and phases accounting?
idenfying measuring recording classifying summarizing
Explain what accounting is?
In simple terms Accounting is the process(technique) of identifying, recording, summarizing, analysing and interpreting transactions & events.
What is four stages in accounting?
4 stages in accounting....1. recording 2.classifying...3.summarizing...4.interpreting
What is the 5 main function of accounting?
The 5 major functions of accounting are recording, classification, analysis and Interprets, Communication and Summarizing. These functions defines the accounting profession.
What are the aspects of accounting?
1) recording 2) classifying 3)summarizing 4) interpreting
What are the four aspects of accounting?
1) recording 2) classifying 3)summarizing 4) interpreting
4 phases of accounting and their definition?
The four phases of accounting are: identification and record, sorting and classification, summarizing and presentation, and interpretation. The first two involves creating a log of financial transactions and categorizing them. Summarizing is the creation of charts, while interpretation is coming up with solutions to increase profit.
Distinguish between costing and cost accounting?
Cost accounting is the process of using alternative courses after collecting, analyzing, and summarizing data. Costing is what the price of something will be.
