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What else can I help you with?
What are the limitation of accounting?
The limitations of accounting are the following: Accounting estimates, professional judgment, verifiability, measurability, limited predictive value, fraud and error. Measurability is limitation due to all entries in accounting record must have a monetary value, and so there is no accounting measure of goodwill or workforce competence.
What is the difference between accounting depreciation and tax depreciation?
In accounting, depreciation is an allocation of a previous expenditure, while in economics depreciation represents a decline in current value.
What is Market to market accounting standards?
I think you mean "Mark to Market" which is an accounting technique in which assets are valued at their current market value and not a previous value or future value. Mark to Market is also known as "Fair Value" accounting.
Advantages of inflation accounting?
An advantage of inflation accounting, is that it can correct problems with inflation. The negative part about inflation accounting is that it is not fair value accounting.
What financial statement shows the accounting value of a firm's equity as of a particular date?
A balance sheet shows the accounting value of a firm's equity as of a particular date.
What does appreciation mean in accounting terms?
Great value.
What does retail mean in accounting?
Net value of an item
What is value of master plus 1991?
The expression "master plus 1991" does not have a defined mathematical value, as "master" is not a numerical term. If "master" refers to a specific numeric value, you would need to replace it with that value to perform the addition. Without additional context, the expression remains ambiguous.
What is the difference between accounting balance sheet and economic balance sheet?
Straight from my text, the difference is that an accounting balance sheet omits significant assets and liabilities and the accounting balance sheet does not report all assets and liabilities at their market value (the accounting balance sheet records a book value; ie the dollar value paid for an item). With respect to which assets and liabilities that are omitted, I am not sure.
Money functions as a unit of accounting when?
It is used as a store of value.
What is The most generally accepted value used in accounting?
Cost
How do you prove cash accounting?
to prove cash you look at the amount of money you have and accounting books. if the value is equal then you have proved cash
