 Why are Accounting Standards necessary? |
Accounting standards are necessary to promote high quality financial reporting. The fundamental role of accounting is to communicate economic information about businesses and other organization to various stakeholders including government, investo......
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| What is Use of statistics in accounting? |
Well, in many accounting situations, there is too much data to go through all this. For example, if we are looking about Ford motor corp., and looking at some specific data, their may be too much to analyze, so we take a sample. Then we need to kn......
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| What are the 4 phases accounting? |
1. Recording
2. Classifying
3. Summarizing
4. Interpreting ......
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| What is accounting management? |
Accounting Management (Business) is the practical application of management techniques to control and report on the financial health of the organization. This involves the analysis, planning, implementation, and control of programs designed to pro......
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| What is a ledger in regards to accounting? |
It is a complete set of accounts for a business entity ......
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| What is creative accounting? |
"Thinking outside the box" when such practice is not permitted. Creative accounting is actually a good description of the practice, as it tends to create a picture, which is not technically correct from the perspective of the information's int......
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| What are the functions of accounting? |
Accounting involves the creation of financial records of business transactions, flow of finance, the process of creating wealth in an organization, and summarizing the financial position of a business at a given moment in time. ......
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| What is accounting transaction? |
A transaction is an execution of a user program and is seen by the DBMS as a series or list of actions. The actions that can be executed by a transaction include the reading and writing of database. ......
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| What are the different branches of accounting ? |
Financial accounting refers to accounting for revenues, expenses, assets, and liabilities. It involves the basic accounting processes of recording, classifying, and summarizing transactions.
- Cost accounting is the branch of accounting ......
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| What are the different fields of accounting? |
There is one field of accounting, but there are many different jobs within the field such as auditor, bookkeeper, payroll accountant, cost accountant, tax accountants, etc. Accountants wear many hats and often do different tasks for different clie......
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