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Q: What do accountants call items such as trucks and machinery?
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Continue Learning about Accounting

What do you call a person who keeps accounts for a business?

accountant bookkeeper


What is period accounting?

This concept defines the unit of time for which accounting data are collected. It is hard to calculate and meassure the profit if the business is trading for long periods. Therefore, accountants estimate profitabilty in the short segments of time that we call Accounting periods.


Why is it that the revenue and cost figures shown on a standard income statement may not be representative of the actual cash inflows and outflows that occurred during a period?

The recognition and matching principles in financial accounting call for revenues, and the costs associated with producing those revenues, to be "booked" when the revenue process is essentially complete, not necessarily when the cash is collected or bills are paid. Note that this way is not necessarily correct; it's the way accountants have chosen to do it.


Why might the revenue and cost figures shown on a standard income statement not represent the actual cash inflows and outflows that occurred during a period?

The recognition and matching principles in the financial accounting call for revenues, and the costs associated with producing those revenues, to be "booked" when the revenue process is essentially complete, not necessarily when the cash is collected or bills are paid. Note that this way is not necessarily correct; it's the way accountants have chosen to do it.


Why some authors says that sales are nominal account?

no sales is not a nominal account. because nominal account says" debit all expenses and credit all income and gain account. " all things which are tangible is call real account. u can touch the goods..Land and Buildings; and Office Machinery A nominal account is account for income and expenses e.g Rent and rates account or subscription account.

Related questions

What are tangible items?

Assets which are physical and can be counted e.g inventory , cash , machinery , raw material etc


What do you call a fleet of trucks?

A fleet of trucks is called a convoy.


What do you call a group of trucks?

convoy


What do you call a row of semi trucks?

A row of semi trucks. There isn't a specific name for it.


What do you call the Framework for oil well drilling machinery?

Derrick


What kind of auto can one buy from Auto Hunter Plus?

New and used cars, trucks, and all types of heavy machinery can be purchased at Auto Hunter Plus. There are 3 ways to find things from them, call their phone number, go to the website, or look in their book.


What do you call a person who designs machinery?

a drafter hope i answered you question


What do you call a skateboard move where you scrape the trucks on a crub?

a grind


What do you call a person who loads and unloads trucks?

Lumper Or Swamper


Who are the accountants that I can call in the southeast Boston area to help me understand the tax form 1040 a better?

I would use Swagbucks.com to search different accountants in your state that can help you understant the tax form 1040 A better.


What do you call a person who keeps accounts for a business?

accountant bookkeeper


What do you call someone who manufactures?

to make bye hand or machinery ; to mass produce