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What is the difference between profit making accounting and not for profit making accounting?
The difference between profit making accounting and not for profit making accounting is, that question should answer itself! 8^0
What is non trading concern?
An legal and accounting organization which serves the whole community there purpose is non profit earning.
The accounting profit figure is simply a measure of the true profit of an organisation?
The accounting profit figure represents the difference between total revenues and explicit costs, such as wages, rent, and materials. However, it does not account for implicit costs, like opportunity costs or the value of foregone alternatives, which can provide a more comprehensive view of an organization's true profitability. Therefore, while accounting profit is a useful measure, it may not fully reflect the overall financial health or economic viability of a business. To assess true profit, one must also consider these implicit costs.
What is the Importance of accounting informationfor a business entity?
accounting information allows a business entity to be able to ascertain its total income and its total expenditure and to be able to know if it is making a profit or loss as the prior motive of any organization or business entity is to maximize profit
What are some ways in which accounting for health care organizations especially not-for-profit ones tends to differ from accounting in other industries?
accounting for healthcare organizations in not-for-profit ,tend to differ from accounting in other industries.
What managerial assessments may you make about an organization that has a profit and negative cash flow in the same accounting period?
What managerial assessments may you make about an organization that has a profit and negative cash flow in the same accounting period?
How do you apply for non profit organization project to Home Depot?
Provide documentation of your status as a registered non-profit organization.
Why study accounting in depth?
Because accouning application is very broad and provides lots of job apportunities. accounting is used in - Non profit organization - Profitable organization - Private organization - Public organization accounting provides excellency and furnishes the management of the organization with sound decision making tools. Sayed Azim Shah Finacial Advisor
What is the difference between profit making accounting and not for profit making accounting?
The difference between profit making accounting and not for profit making accounting is, that question should answer itself! 8^0
What is non trading concern?
An legal and accounting organization which serves the whole community there purpose is non profit earning.
The accounting profit figure is simply a measure of the true profit of an organisation?
The accounting profit figure represents the difference between total revenues and explicit costs, such as wages, rent, and materials. However, it does not account for implicit costs, like opportunity costs or the value of foregone alternatives, which can provide a more comprehensive view of an organization's true profitability. Therefore, while accounting profit is a useful measure, it may not fully reflect the overall financial health or economic viability of a business. To assess true profit, one must also consider these implicit costs.
What is meaning of social enterprise?
With social enterprise, an organization applies the principles for human and environmental benefits rather than monetary benefits. Such an organization can be either for profit or nonprofit.
Is economic profit always less than accounting profit?
No economic profit is not always less than accounting profit; However, if accounting profit is less than economic profit the business would exit the industry.
What the benefits calculating loss and profit?
can c perfomence We can have many advantages and benefits by calculating the profit and the loss of the entrepreneur as below, 1. We can make future plans about the Organization according to the loss or the profit. 2. We can compare the situation of the Organization with other Organizations. 3. It is helpful to have new Investors for the company. 4. We can manage the Capital & other Assets according to the loss and the profit. 5. We should calculate the profit or the loss because it is a necessary requirement of the Accounting Law.
Is economic profit equal to accounting profit?
no
What is the Importance of accounting informationfor a business entity?
accounting information allows a business entity to be able to ascertain its total income and its total expenditure and to be able to know if it is making a profit or loss as the prior motive of any organization or business entity is to maximize profit
What is non profit making organization?
Such an organization is either a charity relying on donations, or will provide a service at cost only to the customer.
