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How is accounting is said to be political in nature by analysing public interest theory with private interest theory?
Accounting is political in nature as final information from accounting reports has impact on the general public, whether it be a public or private company.
In accounting interest is usually associated with?
notes receivable
How do you record carried interest in accounting?
do carried interest partners have any capital ownership on books
What is the accounting journal entries for penalties and interest an taxes?
The accounting journal entries for penalties and interest on taxes will go in the debit and credit columns. You debit the expense account and credit the liability account until the penalties and interest is paid.
How interest on capital treated in cost accounting?
it should be ignored
What are the accounting journal entries for payment in kind interest on a note?
debit interest in kindcredit notes payable
What is the purpose of the Financial Accounting Standards Board?
The purpose of the Financial Accounting Standards Board is to develop (GAAP) generally accepted accounting principles in the US that are in the public's interest.
What is the purpose of a financial accounting standards board?
The purpose of the Financial Accounting Standards Board is to develop (GAAP) generally accepted accounting principles in the US that are in the public's interest.
What are the accounting journal entries for payment in kind interest on a bond?
Debit Interest Expense and Credit Bond Payable.
Is interest paid the same as interest expense?
Interest paid and interest expense are closely related but not identical concepts. Interest paid refers to the actual cash outflow for interest on debt during a specific period, while interest expense is the accounting recognition of that interest cost on the income statement, which may include accrued interest not yet paid. In many cases, they can be the same, but differences can arise due to timing and accounting practices.
What should be the accounting treatment of interest in suspense in balance sheet?
Interest in suspense represents the interest earned on a non performing asset. In terms of the accounting standards the interest earned on a non performing asset is not recognized as income- it is suspended and shown as off balance sheet . However, on the face of the balance- sheet it is included as a receivable.
In what jobs do you use exponents?
you can use it in accounting/financing to solve for comound interest.
