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How is accounting is said to be political in nature by analysing public interest theory with private interest theory?
Accounting is political in nature as final information from accounting reports has impact on the general public, whether it be a public or private company.
Accounting is political in nature explain how?
It is based on people's self interest therefore it is political
Who is the central interest of accounting?
the central interest of accounting
How do you prorate interest?
how do I prorate interest in a closing statement
What is the purpose of financial accounting?
The purpose of financial accounting is to provide financial statements and financial reports to individuals who require them. This includes preparing a balance sheet, income statement, cash flow and notes. People that use this information usually have an interest in the company due to investment or ownership.
In accounting interest is usually associated with?
notes receivable
What is the political arm of a special interest group?
the political arm of an interest group?
How do you enter the double entry for interest receivable?
To enter the double entry for interest receivable, you would debit the Interest Receivable account to recognize the income that is owed to you but not yet received. Simultaneously, you would credit the Interest Income account to reflect the earned revenue on your income statement. This ensures that both the asset and income are accurately recorded in the accounting system.
How do you record carried interest in accounting?
do carried interest partners have any capital ownership on books
Where does interest go on balance sheet?
Interest is part of income statement and shown in income statement and not part of balance sheet.
Where does interest expense in the income statement?
Interest expense is shown at debit side of income statement because it is an expense for business.
Would the statement 'Simple Interest is interest earned on interest' be True or False?
False. Interest upon interest is compounded interest
