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What does ARO mean in accounting?
ARO in regards to accounting means "Asset Retirement Obligation" liability and is referenced in SFAS 143.
What do you mean by gaap?
GAAP is an acronym for Generally Accepted Accounting Principles
What does AU mean on your bank statement?
Asset Utilization
What do you mean by principle of accounting?
Definition of 'Accounting Principles' The rules and guidelines that companies must follow when reporting financial data. The common set of accounting principles is the generally accepted accounting principles (GAAP). To remain listed on many major stock exchanges in the U.S., companies must file regular financial statements reported according to GAAP. Accounting principles differ around the world, and countries usually have their own, slightly different, versions of GAAP.
What does the term capital assets mean in accounting?
In accounting the term capital assets refers to an asset that is usually held for the purpose of contributing to earnings for a business over a long period of time.
Does a balancing trial balance mean that all accounting principles you applied?
Not necessarily, just because it balances it can still be wrong.
What does asset mean what does asset mean?
asset is anything that appreciate in value over a period of time
What does money measurement mean in accounting terms?
Money is used as the basic measuring unit for financial reporting -A resource will only be regarded as an asset and included in the balance sheet if it can be measured in monetary terms.
Is shed a fixed asset?
The question is a bit confusing, however if you mean "a" shed, as in used for storage or even some companies purchase sheds to use as an office building, then YES it is a Fixed Asset. A fixed asset (also known as Long-Term Asset or Property, Plant, & Equipment [PP&E] are used in accounting for assets or property that can not be easily converted to cash. Unlike Current assets such as Cash, Merchandise, Accounts Receivable, which usually can be converted into cash rather quickly.
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
Why fixed asset are subject to depreciation?
fixed asset does not mean that the value of asset no decrease in future it,s for sure, that,s why we depreciate it annually.....
What does non GAAP mean?
GAAP stands for Generally Accepted Accounting Principles. Non-GAAP means that the financial statements or financial measures have been prepared on a basis other than those generally accepted.
