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Accounting what word is used to describe each business deal?
TRANSACTION
Revenue accounts should begin each accounting period with zero balances?
should revenue accounts begin each accounting period with zero balance
Which online finance courses lead to a graduate accounting degree?
Each college or university has its own criteria for a graduate accounting degree. In general, you will want to focus on accounting, economics and finance classes for business management.
Which accounting convention or doctrine is being used when a business preapres financial statements each year?
period convention
What are the four sections of the Uniform CPA Examination?
The four sections of the examination were: auditing (AUDIT), business law and professional responsibilities (LPR), financial accounting and reporting--business enterprises (FARE), and accounting and reporting--other areas
All of the following occur with a double-entry accounting system except?
Each business transaction will have only two entries.
Why should a business weight the advantages and disadvantages of each ownership option?
Why should a business weigh the advantages and disadvantages of each ownership option ?
True or false after each transaction the basic accounting equation should remian in balance?
true
Advantages of accounting skills to managers?
In the business world, accounting is one discipline of study that all people, regardless of job position, should have some knowledge of. Its concepts can be applied to all job specialties, its importance has been promoted in recent years, and it is useful in people's everyday lives. First, an accounting education is important because it can be applied in all job specialties. Secretaries must use accounting skills to manage the company check book and orders, auditors have to study financial statements to evaluate the accuracy and integrity of the business, and executives need to judge the success of their business using accounting statements from the past and present. These are just a few of the many possible positions where an understanding of accounting is necessary. Another reason all business students should have some background in accounting is because in recent years, people in the business world have been held more accountable for their financial practices. Since the Enron and WorldCom crisis when independent auditor Arthur Anderson failed to report illegal accounting practices, the SEC has been monitoring public corporations more closely. Thus, companies require some basic knowledge of accounting to avoid any future misstatements unintentionally occurring. Additionally, it is vital that everyone, not just business students, acquire an understanding of accounting for personal benefit. People use accounting in their daily lives when they study financial statements to make investment decisions, assess interest rates to pay off their house mortgages, and calculate rates for car payments. In the business world, accounting is utilized in much greater depth, but each individual encounters some activities in his/her everyday life that requires knowledge of accounting principles. Accounting is the most basic framework of business. Without an accounting education, students would be unprepared for the real world
Which degree is better Accounting or Business Administration?
The answer to this question depends on the career goals of an individual. Clearly if the intent of a student is to join an accounting firm and become a partner, the degree in accounting is the best start. On the other hand, if a student wishes to have a career in a company, the Business Administration degree will help more than the accounting degree. With that said, each of these degrees are a good beginning to a career in both the private and public sectors.
Should ethics be imposed on business?
Ethics should not be imposed on business. Each business should have its own inside code of ethics and shouldn't need someone else to tell them what to do.
Difference between auditing and accounting?
Accounting is the process of recording, classifying and summarizing of the business events for the purpose of providing financial information to investors for decision making. Auditing is determining whether recorded information properly to the business events that occurred during the accounting period. Its main duties are observe, valuate and recommend the financial statement and the firm.
