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To prepare a court accounting for a client of the public guardian's office do you include the interest earned but not received on an irrevocable burial plot investment?
Wiki User
∙ 15y ago
Yes. All assets, including a receivable (the right to receive money), should be reflected in the accounting.
Wiki User
∙ 15y ago
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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.
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.
In accounting interest is usually associated with?
notes receivable
What is the journal entry for investment revenue of 6000 was earned and received?
debit cashcredit interest on investment
What are the issues of accounting firms going into financial services market?
I don't know that much about accounting or financial investing, but it doesn't sound like a good idea to me to combine these two companies together under one roof. I am not saying that one person can't own both of these companies at the same time, but they should be kept separate as two different entities. When in the accounting business, you have to remain loyal to your clientele, because they might happen to be in the business of mutual funds, which is an investment company. If you gave your client advice where they could get a better investment return by going to a different mutual fund investment group, then that could be a conflict of interest to your client who also owns a mutual fund investment group.
Who is the central interest of accounting?
the central interest of accounting
When an investor's accounting period ends on a date that does not coincide with an interest receipt date for bonds held as an investment the investor must?
When an investor's accounting period ends on a date that does not coincide with an interest receipt date for bonds held as an investment, the investor must a. make an adjusting entry to debit Interest Receivable and to credit Interest Revenue for the amount of interest accrued since the last interest receipt date. b. notify the issuer and request that a special payment be made for the appropriate portion of the interest period. c. make an adjusting entry to debit Interest Receivable and to credit Interest Revenue for the total amount of interest to be received at the next interest receipt date. d. do nothing special and ignore the fact that the accounting period does not coincide with the bond's interest period.
What is an Investment Interest calculator?
An investment interest calculator will calculate the amount of interest that you will have to pay on an investment on a home, car, or other type of big expense.
Can fees paid to a broker be classified as investment interest expenses?
No. Broker Fees are investment expenses but are not investment interest expenses.
In an investment evaluation scenario how do you calculate interest income and interest expense?
For starters, forget about Net Present Value. Look up for a new methodology called c2bii. The general idea behind this method, can be described as accounting on steroids.
Is the interest earn t in a bank account classed as an investment?
Interest earned in a bank account is not an investment. It is considered an income. The money that you have in the bank account that earned the interest for you is considered the investment
The Importance of Interest?
Interest is the basis by which all investments should be measured, and calculating interest used to be a chore, even for the most seasoned of investors. Many chose to just leave it to their investment advisors. However, with the tools that the Internet provides to the common investor for free, people would be remiss not to calculate the interest on a particular investment as a common vetting procedure. Many financial sites provide free tools by which an investor can calculate the interest on an investment, both accounting and economic, based on current market conditions. Investors should be worried more about economic profit.
Can educational loan interest be deducted as an investment interest expense?
No.
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.
What is the journal entry for accrued interest income from an investment?
Debit interest receivableCredit interest income
The relationship between the real interest rate and investment is shown by the?
Investment Demand Schedule
What is a sentence with 'interest' in it?
The saver lost interest in the investment once the interest rate fell to 0.5 percent.
