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Is management accounting information historical or future oriented?
Management accounting information is historical in nature but it needs to be also future oriented.
What is the limitation of accounting?
one of the most limitation of accounting is measurement by historical cost
Fair value changes are not recognized in the accounting records?
historical cost principle
What are the characteristics of financial accounting?
Financial accounting allows business a systemic way to enter financial transactions. The following are some of the characteristics of financial accounting: transactions must be monetary, legal requirement, external use, and historical nature.
What do you mean by material facts in accounting?
material facts are documents pertaining to the historical events of the facts being justified
Advantages of historical cost accounting?
strength of historical cost accounting
Is management accounting information historical or future oriented?
Management accounting information is historical in nature but it needs to be also future oriented.
What is the limitation of accounting?
one of the most limitation of accounting is measurement by historical cost
What are the argue for and against historical cost as a principle of accounting in the preparation of final account of a sole trader?
What are the argue for and against historical cost as a principle of accounting in the preparation of final account of a sole trader?
Historical cost accounting?
Historical cost accounting is the price a firm pays to obtain ownership while utilizing an asset which includes payments needed to purchase the asset. This form of accounting is based on previous price decisions helping a company determine pricing.
What are some of the major strengths and weaknesses of historical cost accounting?
the difference between income derived from the viewpoint of maintaining financial capital (as in historical cost accounting) and income derived from a system of ensuring that physical capital
Fair value changes are not recognized in the accounting records?
historical cost principle
Historical background of accounting in Nigeria?
The historical background of taxation in Nigeria indicates that the first form of taxation occurred in Northern Nigeria. Taxation started in the pre-colonial era and has been improved over the years.
Define the meaning of legend?
A historical, traditional. story.
What is traditional approach to historical approach?
whats is hegemony
What are the main historical sources of the democratic traditional?
nothing
What are the methods for accounting inflation?
Discuss the various methods of inflation accounting.
