0
What else can I help you with?
What accounting concepts stipulates that accounting profit is the difference between revenue and expenses?
The accounting concept that stipulates accounting profit as the difference between revenue and expenses is the matching principle. This principle requires that expenses be matched with the revenues they help generate within the same accounting period, ensuring that financial statements accurately reflect the company's performance. Thus, accounting profit is calculated by subtracting total expenses from total revenues, providing a clear picture of profitability.
What is the difference between governmental accounting and financial accounting?
Governmental accounting is the form accounting practice by government- recognizing inflows as revenue and outflows as expenditure, whereas financial accounting is the accounting work done within an institution.
What is the difference between manual accounting and tally accounting?
what is the difference between manual accounting and tally accounting?
What is the difference between cash accounting profit and loss and accrual accounting profit and loss?
Cash accounting and accrual accounting are two methods of accounting in cash accounting system all expenses and revenues are recorded when actual cash is paid or received while in accrual profit and loss statement, revenues and expenses are recorded when they are actually occurred and timing of receipt and payment of cash is not important.
What is the difference between provision and payable?
Provision means the expenditure known but not exact amount to be spent that is unknown but payable means the exact amount of expenses knows that is to be paid.
What accounting concepts stipulates that accounting profit is the difference between revenue and expenses?
The accounting concept that stipulates accounting profit as the difference between revenue and expenses is the matching principle. This principle requires that expenses be matched with the revenues they help generate within the same accounting period, ensuring that financial statements accurately reflect the company's performance. Thus, accounting profit is calculated by subtracting total expenses from total revenues, providing a clear picture of profitability.
What is the difference between governmental accounting and financial accounting?
Governmental accounting is the form accounting practice by government- recognizing inflows as revenue and outflows as expenditure, whereas financial accounting is the accounting work done within an institution.
What is the difference between a debit and a credit in accounting?
In accounting, a debit represents an increase in assets or expenses, while a credit represents an increase in liabilities, equity, or revenue.
What is the difference between a debit and credit in accounting?
In accounting, a debit represents an increase in assets or expenses, while a credit represents an increase in liabilities, equity, or revenue.
The difference between accounting policies and accounting bases?
The difference between accounting and auditing?"
What is the difference between manual accounting and tally accounting?
what is the difference between manual accounting and tally accounting?
The difference between accounting nations and accounting commerce?
the difference between accounting nations and accounting commerce
What is the difference between cash accounting profit and loss and accrual accounting profit and loss?
Cash accounting and accrual accounting are two methods of accounting in cash accounting system all expenses and revenues are recorded when actual cash is paid or received while in accrual profit and loss statement, revenues and expenses are recorded when they are actually occurred and timing of receipt and payment of cash is not important.
What is the difference between provision and payable?
Provision means the expenditure known but not exact amount to be spent that is unknown but payable means the exact amount of expenses knows that is to be paid.
What is the Difference between budget and actual expenditure?
Budget is the projected financial estimate in a given year, whilst expenditures are the actual expenses incured in carrying out the budget.
Differentiate between capital expenditure and recurrent expenditure with example?
capital expenditures is expenses on assets and infrastructure while recurrent expenditure is expense on liabilities or things that keep on happening
What is the differentiate between capital expenditure and recurrent expenditure and what are some examples?
Check out the related link to see the difference between capital expenditure and recurrent expenditure as well as some examples.
