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The biggest difference is that government account is non-profit and based on funds....also called fund accounting. They do not have profits. Financial accounting tracks income and have or hope to have a profits.
An accounting class would help you manage your books and check both profits and losses for your business. A general accounting course would just give you the basic principles.
Profits, as a percentage of total sales is 100*profits/value of sales.profit/cost price x 100
asset = liability + owner's equity
GAAP is nothing but a set of principles followed by a company which helps it to manage effectively and compare the profits and losses of different accounting periods.there are many such principles.
greater then economic profits,as accounting profits do not include implicit costs
an accounting profits is the net profits of every financial transaction it can be in monetary or satisfaction of service rendered.
The biggest difference is that government account is non-profit and based on funds....also called fund accounting. They do not have profits. Financial accounting tracks income and have or hope to have a profits.
1. Why are we interested in cash flows rather than accounting profits in determining the value of an asset?
William A. Paton has written: 'Corporate profits' 'Advanced accounting'
An accounting class would help you manage your books and check both profits and losses for your business. A general accounting course would just give you the basic principles.
because that is what is being used
Profits, as a percentage of total sales is 100*profits/value of sales.profit/cost price x 100
Veijo Riistama has written: 'Inflaatiovaraus' -- subject(s): Accounting, Corporate profits, Effect of inflation on, Industrial management, Mathematical models, Reserves (Accounting)
The benefit of cost accounting is that you do not need to calculate the change in the costs when the price of your supplies increase. Your profits are simply your sales minus the cost of your inventory and minus the cost of your purchases. Cost accounting is ideal for a small operation.
The benefit of cost accounting is that you do not need to calculate the change in the costs when the price of your supplies increase. Your profits are simply your sales minus the cost of your inventory and minus the cost of your purchases. Cost accounting is ideal for a small operation.
asset = liability + owner's equity