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What are the three accounting issues associated with accounts receivables?
Associated accounting issues include recognizing accounts receivable, valuing accounts receivable, and disposing of accounts receivable.
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.
Is interest on capital a personal real or nominal account?
Interest on capital is considered a nominal account. Nominal accounts are associated with expenses, incomes, gains, and losses, and they are closed at the end of an accounting period. Since interest on capital represents a cost or an expense incurred by a business, it falls under this category.
Replacement cost method in accounting pros and cons?
The replacement cost of accounting factors in the cost of getting new human and capital resources and the training costs associated. Companies usually undertake a lot of costs in replacing employees.
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.
Who is the central interest of accounting?
the central interest of accounting
What are the three accounting issues associated with accounts receivables?
Associated accounting issues include recognizing accounts receivable, valuing accounts receivable, and disposing of accounts receivable.
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.
Is interest on capital a personal real or nominal account?
Interest on capital is considered a nominal account. Nominal accounts are associated with expenses, incomes, gains, and losses, and they are closed at the end of an accounting period. Since interest on capital represents a cost or an expense incurred by a business, it falls under this category.
Replacement cost method in accounting pros and cons?
The replacement cost of accounting factors in the cost of getting new human and capital resources and the training costs associated. Companies usually undertake a lot of costs in replacing employees.
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
Which company position deals with the accounts?
Accounts receivable and accounts payable are usually the two departments associated with this. The tax department probably oversees accounting in all aspects.
What procedures are usually included in a typical payroll accounting?
Describe the procedures that are usually included in a typical payroll accounting system?
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.
