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All kinds of transactions, everything, can be done in accounting, however, by virtue of certain limitations, prescribed by statutes, etc., not all transactions need be or should be done in accounting.
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What must be done if a transaction increases the left side of the accounting equation?
Correct the transaction so that the double entry also increases the right hand side of the accounting equation so that the equation (always) balances.
What is the relationship between finance and accounting?
accounting is the calculation process of financial transaction
What is an accounting transaction?
An accounting transaction is the exchange of request/response messages to perform accounting. Accounting can be performed in the form of accounting transactions that report on resource usage by a session. Accounting transaction can occur during a session if accounting or charging indications are needed [pol based acct] or only at the start and the end of the session. http://209.85.175.104/search?q=cache:EcDJEY4QjJAJ:www.aaaarch.org/doc09/session_id-29nov2000.doc+%22accounting+transaction+is+the%22&hl=id&ct=clnk&cd=2&gl=id A transaction is an execution of a user program and is seen by the DBMS as a series or list of actions.The actions that can be executed by a transaction includes the reading and writing of database.
What are the three golden rules of accounting?
Real Accounting:Dr - What comes inCr - What goes outExamples of this kind of transaction include cash/bank and rent.Personal Accounting:Debit is the receiver.Credit is the giver.An example of this kind of transaction is Vendor/Customer relations.Nominal Accounting:All gains and income are credit.All losses and expenses are debit.An example of this kind of transaction is sales and/or purchases.
Should Double-entry accounting transactions be equal or unequal?
In Double entry accounting system both the debit part as well as credit part of transaction should be equal otherwise accounting transaction is not complete properly.
What is an accounting organization?
Accounting is that system which help us for written the transection in systemeticaly way. accounting is the very useful system for remmedering the such transaction,with the help of accounting we know that what is the financial position of our company & firm. in the ancent time we done that kind transaction like exchanging the things between two parties without help of money but in that transaction we find some erorr in that transaction as follows-:(1) we have to need two parties in that transaction which parties are want to exchange their things with that party which thing they want . Accounting is very nescessary for recording their firm,company's transaction for knowing the financial position of the companyor firm . in accounting we have to follow the such rules for recording the such transaction in systemeticaly way as follows: (1) materaility concept (2) matching concept (3)money measurement concept (4) separate entity concept (5) accounting period concept
What must be done if a transaction increases the left side of the accounting equation?
Correct the transaction so that the double entry also increases the right hand side of the accounting equation so that the equation (always) balances.
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
What is the relationship between finance and accounting?
accounting is the calculation process of financial transaction
What is an accounting transaction?
An accounting transaction is the exchange of request/response messages to perform accounting. Accounting can be performed in the form of accounting transactions that report on resource usage by a session. Accounting transaction can occur during a session if accounting or charging indications are needed [pol based acct] or only at the start and the end of the session. http://209.85.175.104/search?q=cache:EcDJEY4QjJAJ:www.aaaarch.org/doc09/session_id-29nov2000.doc+%22accounting+transaction+is+the%22&hl=id&ct=clnk&cd=2&gl=id A transaction is an execution of a user program and is seen by the DBMS as a series or list of actions.The actions that can be executed by a transaction includes the reading and writing of database.
What are the three golden rules of accounting?
Real Accounting:Dr - What comes inCr - What goes outExamples of this kind of transaction include cash/bank and rent.Personal Accounting:Debit is the receiver.Credit is the giver.An example of this kind of transaction is Vendor/Customer relations.Nominal Accounting:All gains and income are credit.All losses and expenses are debit.An example of this kind of transaction is sales and/or purchases.
Should double entry accounting entries be equal?
In Double entry accounting system both the debit part as well as credit part of transaction should be equal otherwise accounting transaction is not complete properly.
Should Double-entry accounting transactions be equal or unequal?
In Double entry accounting system both the debit part as well as credit part of transaction should be equal otherwise accounting transaction is not complete properly.
Computerized accounting package?
Computerized accounting packages are those packages which perform all accounting transactions automatically and not each transaction or process is need to be done manually and all processes are automated due to which there is less chances of errors as all information is managed automatically.
What is a sentence with the word transaction?
Each time you deposit in or withdraw money from the bank you create an accounting transaction.
How has technology had an effect on accounting?
Accuracy EfficiencyAccountabilitySolid Transaction audits
