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What is the major difference between finance and accounting?
The major difference between finance and accounting is that, accounting is general, deals with all economic facts that occur throughout the financial year, financial is specific deals only with finances
What is the difference between accounting year and accounting period?
An accounting year refers to a specific 12-month period used for financial reporting and tax purposes, often aligning with a company's fiscal year. In contrast, an accounting period is any duration of time, whether it's a month, quarter, or year, over which financial transactions are recorded and reported. Essentially, all accounting years are accounting periods, but not all accounting periods are a full year. The choice of accounting periods allows businesses to assess financial performance on a shorter timeframe, if needed.
What are the accounting entries of rent receivable that is prepared in the next financial year?
Adjusting entries are the accounting entries of rent receivable that are prepared at the end of the financial year. As a result, adjustments are made for the new financial year based on the previous year.
Difference between auditing and accounting?
Accounting is the process of recording, classifying and summarizing of the business events for the purpose of providing financial information to investors for decision making. Auditing is determining whether recorded information properly to the business events that occurred during the accounting period. Its main duties are observe, valuate and recommend the financial statement and the firm.
How many weeks are in a financial year?
52 ... The difference between this and a standard year is that a financial year can start on any date so long as it continues for 52 consecutive weeks thereafter.
In what year was FAF organized?
The FAF is the Financial Accounting Foundation. The FAF oversees the Financial Accounting Standards Board and the Governmental Accounting Standards Board. It was organized in 1972 as an independent private sector organization.
What is the difference between TTM (trailing twelve months) and YTD (year-to-date) financial performance metrics?
The difference between TTM (trailing twelve months) and YTD (year-to-date) financial performance metrics is that TTM looks at the past 12 months of financial data, while YTD focuses on the financial performance from the beginning of the current year up to the present date.
What is the difference between dividend paid at the end of the financial year and interim dividend?
final dividend is paid after close of financial year.interim dividends are paid during financial year depending upon company financial health & policies.
WHAT IS YTD?
YTD (accounting year to date) revenue is the amount of money earned from the beginning of the financial year until the date the financial statement was prepared.
During fiscal year end close out who serves as the liaison between base level major players and defense finance and accounting service?
During the fiscal year end closeout, the liaison between base-level major players and the Defense Finance and Accounting Service (DFAS) is typically the base financial manager or the accounting officer. This individual is responsible for coordinating communication, ensuring accurate financial reporting, and addressing any discrepancies. They facilitate the flow of information and help align base-level financial activities with DFAS requirements to ensure compliance and accuracy in financial statements.
What is the starting month of financial year of united Arab emirates?
What is the starting month of financial year in dubai,uae
What is ytd revenue?
YTD (accounting year to date) revenue is the amount of money earned from the beginning of the financial year until the date the financial statement was prepared.
