0
What else can I help you with?
What do you understand accounting principals discuss the nature and significance of accounting principles?
They are set of accepted accounting standards and general rules.
What is integration cost accounting system and nonintegrated cost accounting system?
An integrated accounting system requires a cash book and general journal, where a set of books contains inventory and cost accounting information. In non-integrated cost accounting, only a purchase account is required to record purchases.
Who set accounting rules?
Financial Accounting Standards Board (FASB) set US GAAP (Generally Accepted Accounting Practices)
Is it true that a single general theory of accounting may be desirable but accounting as a logical and empirical science is still in too primitive a stage for such a development?
Who says accounting is a science. It is not. It's just simply a way to manage and control money flowing in and out of company. Any accounting theory is not based on some scientific experiments, it is not required. Managing money is no science so, accounting is what it is: Just a set a general principles set by some oldies way back in past and now those rules are changed on monthly basis according to economic conditions. Simple.
Are there different types of GAAP General accepted accounting principles?
GAAP is nothing but a set of principles followed by a company which helps it to manage effectively and compare the profits and losses of different accounting periods.there are many such principles.
What is the difference between Accounting and Business Accounting courses?
In "Business Accounting" you will learn how to keep one set of books for yourself and another set of books for the IRS.
What are the benefits of using Microsoft Office Small Business Accounting 2006?
The Microsoft Office Small Business Accounting 2006 software is sold at a competitive price with a solid set of small business accounting tools. The interface is easy to learn and provides not only set up short cuts but an import data wizard, making it easy to transfer company data from excel. This software is designed for the cost - conscious entrepreneur. It is ideal for any small business with up to 25 employees that manages its own finances.
How much money do general office get paid?
It will depend on what the company will set your wage at as to how much you will get paid for General Office. Some companies vary in pay, ranging from minimum wage to a pay over the minimum wage. I recommend checking with the Payroll office to see what their pay rate is.
What if tax law changes mid-year, between scheduled updates, does my office, tax & accounting software get updated ?
It should be set to recieve all updates as they are made available.
What is full set accounting?
Full set accounting refers to a set of financial statements. The statements are made up of financial position, comprehensive income, changes in equality, and cash flow.
What are the Needs for accounting standards?
The term standard denotes a discipline, which provides both guidelines and yardsticks for evaluation. As guidelines, accounting standard provides uniform practices and common techniques of accounting. As a general rule, accounting standards are applicable to all corporate enterprises. They are made operative from a date specified in the standard. Accounting is the art of recording transactions in the best manner possible, so as to enable the reader to arrive at judgments/come to conclusions, and in this regard it is utmost necessary that there are set guidelines. These guidelines are generally called accounting policies. The intricacies of accounting policies permitted Companies to alter their accounting principles for their benefit. This made it impossible to make comparisons. In order to avoid the above and to have a harmonised accounting principle, Standards needed to be set by recognised accounting bodies. This paved the way for Accounting Standards to come into existence.
How does general purchasing power differ from current cost accounting?
General purchasing power involves the promise of a buyer to buy at a certain price over the lifetime of their agreement with a seller. Current cost accounting is paying for something based on the current cost of a material. A defense contract might be an example of general purchasing power, whereby the government agrees to buy a number of items at a set price.
