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What is the difference in perspective between finance and accounting?
Accounting is creating and managing financial statements which record transactions for businesses. Finance is initiating transactions to aid in cash, investment and other working capital management.
What transaction is found first on accounting record?
The "journal" is the first transaction found on the accounting record.
A record in the accounting equation?
Transaction
Who are the users of accounting record?
accountants
What is individual accounting?
Individual accounting is related to record of any sole trader .
What is the abbreviation for the word Debit in accounting?
Debit is seen as Dr in accounting. Credit is Cr. They stand for Debit Record and Credit Record.
What definition of accounting?
A narrative or record of events.
What is legder?
A written record of Accounting information.
What is recording phase of accounting?
Recording phase of accounting is to record the transactions into journal after transactions occured.
What is the General journal entry to record investment?
debit investment accountcredit cash / bank
For the modified accrual basis of accounting what would be the entry to record the purchase of an building?
For the modified accrual basis of accounting what would be the entry to record the purchase of an building?
What is accounting cycle or process?
The sequence of activity which are followed in an organization,where accounting is pratise.the sequence of accounting procedure used to record classify and summarize accounting information is known as ACCOUNTING CYCLE/PROCESS.
