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The most significant current source of generally accepted accounting?
Wiki User
∙ 13y ago
FASB
Wiki User
∙ 13y ago
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What is the most significant current source of generally accepted accounting principle?
fasb
Is the most FASB the most significant current source of generally accepted accounting principles?
yes
How can long service leave be classified as non current?
Under Generally Accepted Accounting Principles, the term Current usually refers to the next twelve months. Any thing that has a "life" over that time period, is considered Long-term, (or Non-Current).
Why is the tax expense reported on the income statement comprised of current and deferred tax?
This is in accordance with Generally Accepted Accounting Principles, SFAS No. 109, "Accounting for Income Taxes". The theory is that even if you don't owe tax today on a given temporary difference, you will one day owe (or get the tax benefit) of said temporary difference. Remember: current tax expense= your tax bill this year deferred tax expense/ benefit=your future tax expense or benefit on the book/tax temporary items
What do current liabilities mean in accounting?
Current Liabilities in accounting are amounts that are owed by a business. The two types of current liabilities are short-term and long-term liabilities.
What is the most significant current source of generally accepted accounting principle?
fasb
Is the most FASB the most significant current source of generally accepted accounting principles?
yes
How do I determine my small business working capital?
Working capital is determined by means of subtracting your business’ current liabilities from your business’ current assets as determined by generally accepted accounting principles.
How can long service leave be classified as non current?
Under Generally Accepted Accounting Principles, the term Current usually refers to the next twelve months. Any thing that has a "life" over that time period, is considered Long-term, (or Non-Current).
What is current purchasing power accounting method?
What is current purchasing power accounting method
Why is the tax expense reported on the income statement comprised of current and deferred tax?
This is in accordance with Generally Accepted Accounting Principles, SFAS No. 109, "Accounting for Income Taxes". The theory is that even if you don't owe tax today on a given temporary difference, you will one day owe (or get the tax benefit) of said temporary difference. Remember: current tax expense= your tax bill this year deferred tax expense/ benefit=your future tax expense or benefit on the book/tax temporary items
What do current liabilities mean in accounting?
Current Liabilities in accounting are amounts that are owed by a business. The two types of current liabilities are short-term and long-term liabilities.
What accounting principle does the US use?
The current principle is the FASB (Financial Accounting Standards Board). This standard is the current adopted standard to the USA.
What is the effect of current technology in managerial accounting?
Reduction of reporting costs of managerial accounting information
What has the author R J Chambers written?
R. J. Chambers has written: 'Varieties and uses of financial information' 'Accounting theory and research' -- subject(s): Accounting, Research 'The resolution of some paradoxes in accounting' -- subject(s): Accounting 'Continuously contemporary accounting' -- subject(s): Current value accounting 'Accounting, evaluation and economic behaviour' 'Current cost accounting' -- subject(s): Accounting, Cost accounting, Great Britain, Great Britain. Inflation Accounting Committee
Is the accural method of accounting accepted by GAAP?
I have question to Current ration, in order to my exam there is no given format. For currest ratio : current assets /and current libility which is given which can be relationship to these words; Current ration: current assets:inventory+ account receivable+ cash equivanlents+ cash Current liability: accruals +account payable+ notes payable. Pls give me any other words using to get the answer . Thank you.
What are some of your achievements in your current accounting job role?
To effectively list some of your achievements in your current accounting job role, you need to focus on the relevant achievements. This would be a good inclusion in your current resume.
