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Why Accounting is a means to an end and not an end in itself?
I think the accounting statement indicates that accounting is merely a tool, or a means, for measuring and determining the state of a business. Accounting is not an end in and of itself. Accounting doesn't define a business' purpose or goal. It's strategy and financing of a business plan that is actually the main purpose.
Advantages of cost accounting?
Cost accounting is a wonderful tool for the management to measure how the company resources has been utilized. It is very useful for the end users also.
What do you mean when you say that accounting is a meansrather thanan end?
When we say that accounting is a means rather than an end, we mean that accounting serves as a tool to facilitate decision-making, planning, and control within an organization. Its primary purpose is to provide useful financial information and insights that help stakeholders evaluate performance and make informed choices. Ultimately, the goal is not accounting itself, but the effective management and growth of the business based on the data it provides.
Cost of goods sold is determined only at the end of the accounting period in?
The inventory system used to determine the cost of goods sold at the end of accounting period is called Periodic Inventory System. This requires physical inventory check.
Fidelios a hotel accounting syatem how does this accounting system work?
It depends on how you mean...revenue, charges, etc. are posted by category and tallied up at the end of the day; the resulting information is uploaded to accounting software like Siebel and is compiled in a standardized way so that hotel managers, corporate offices, etc. can understand it. How does Fidelio itself do what it does? Storing information in tables, I guess.
What does Force should be a means to an end not an end in itself mean?
When a force is by another
Why should cost be matched with revenues at the end of an accounting period?
You compare income with expenses to see how much profit you have made.
Explain the statement accounting is a mean rather than an end?
Accounting helps businesses perform better. When managers analyze accounting reports and find areas that need improvement they can make the changes to improve their production and financial situation.
What is the purchases account classified as?
The purchases account is classified as a temporary or nominal account within the accounting system. It records the cost of goods purchased for resale during a specific accounting period. At the end of the period, the balance is typically closed to the income statement, impacting the cost of goods sold (COGS) calculation.
When do credit cards expire?
If you mean the card itself, it's usually 1 to 2 years. If you mean the credit you have used, it's at the end or near the end of each month.
WHERE DOES RENT EXPENSE GO IN ACCOUNTING?
In accounting, rent expense is classified as an operating expense and is recorded on the income statement. It reduces the net income for the period, as it is a cost incurred in the process of generating revenue. On the balance sheet, any unpaid rent at the end of the accounting period is recorded as a liability under accrued expenses or accounts payable.
What does brown discharge at end of period mean?
It's just the vagina cleanin itself out, nothing to worry about.
