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material facts are documents pertaining to the historical events of the facts being justified

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Q: What do you mean by material facts in accounting?
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Material facts in Accounting?

Material facts in accounting depends of the components of accounting whereby the books are either audited or prepared. They include things like bills, vouchers and other relevant documents. Material facts are documents pertaining to the historical events of the facts being justified. Material facts in accounting means those facts that involves material amount and which may affect the financial statements to a great extend and hence needed to be disclosed in the companies financial statement. For more info visit linguee.in


What does the accounting term MPV mean?

Material Pricing Variance


What is the major difference between finance and accounting?

The major difference between finance and accounting is that, accounting is general, deals with all economic facts that occur throughout the financial year, financial is specific deals only with finances


What does contribution mean in management accounting?

are


What is the meaning of the term General Ledger?

General Ledger in financing means central repository of the accounting information of an organization in which the summaries of all financial transactions (culled from subsidiary ledgers) during an accounting period are recorded. Also called the book of final entry, it provides the entire data for preparing financial statements for the organization. It applies also for nuclear material accounting in which the summaries of all nuclear material transactions during an accounting period are recorded. It includes the all data for preparing nuclear material inventory in a facility or organization.

Related questions

Material facts in Accounting?

Material facts in accounting depends of the components of accounting whereby the books are either audited or prepared. They include things like bills, vouchers and other relevant documents. Material facts are documents pertaining to the historical events of the facts being justified. Material facts in accounting means those facts that involves material amount and which may affect the financial statements to a great extend and hence needed to be disclosed in the companies financial statement. For more info visit linguee.in


What does the accounting term MPV mean?

Material Pricing Variance


What is recorded facts which effects nature of financial statements?

in accounting all facts are not recorded only those facts or transactions are recorded which can be represented in terms of money and which can not be recorded fall beyond the scope of accounting thus in accounting the recorded facts are those which can be presented in monetary terms.


What are the objectives of material control in cost accounting?

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What does it mean to manage the accounting system?

To manage an accounting system. The system that manages the accounting. Accounting is: The action or process of keeping financial accounts


What is the major difference between finance and accounting?

The major difference between finance and accounting is that, accounting is general, deals with all economic facts that occur throughout the financial year, financial is specific deals only with finances


What you mean by corporate accounting?

in corporate accounting we maintain the accounts of joint stock companies


What does contribution mean in management accounting?

are


What is the importance of mathematics in accounting?

Accounting use mathematics in order to interpret facts and figure. This requires some basic and intermediate knowledge of mathematic concept and theories.


What does snythesizing a research essay mean?

It means gathering information from several different sources and drawing conclusions about what the facts are based on your interpretation of the different source material.


What is the meaning of the term General Ledger?

General Ledger in financing means central repository of the accounting information of an organization in which the summaries of all financial transactions (culled from subsidiary ledgers) during an accounting period are recorded. Also called the book of final entry, it provides the entire data for preparing financial statements for the organization. It applies also for nuclear material accounting in which the summaries of all nuclear material transactions during an accounting period are recorded. It includes the all data for preparing nuclear material inventory in a facility or organization.


What does BA mean after a name?

Bachlers in accounting.