--%>
Assignment Help - homework help

Accounts payable

A current liability on the balance sheet presenting the amount of goods and services that the company has bought on credit. Usually these amounts are paid quickly and no interest is involved. This account is similar to a consumer charge account where the balance is paid off each and every month. It is different, however, in that the company can sometimes take a discount if it pays within a very short time. The company balances the value of the discount against the usage of the cash and manages cash carefully by not paying too early

 

 

   Related Questions in Managerial Accounting

  • Q : Basic accounting principles or concepts

    ACCOUNTING CONCEPTS: Presented below are basic accounting principles or concepts, with which hospital managers should be familiar and that they should understand i

    		•
  • Q : What do you mean by the term Mission

    What do you mean by the term Mission statements? Briefly describe it.

    		•
  • Q : What is Partnership Partnership :

    Partnership: Whenever two or more persons enter into an agreement to take on business and share its gain and losses, it is a condition of partnership. It can also define as: "Partnership is the relation among persons and who have granted to share the

    		•
  • Q : Explain Standard Costing Standard

    Standard Costing: A costing technique which joins costs to cost objects based on reasonable approximations or cost studies and by the means of budgeted rates instead of according to actual costs incurred. The predictable cost of gener

    		•
  • Q : Explain Performance Measurement

    Performance Measurement: A means of computing effectiveness, efficiency, and outcomes. A balanced performance measurement score-card comprises financial and non-financial measures focusing on the quality, cycle-time, and price. The performance measure

    		•
  • Q : Define Indirect Cost Indirect Cost : A

    Indirect Cost: A cost which can’t be recognized particularly with or traced to a specified cost object in an economically feasible manner.

    		•
  • Q : Capital account on credit and debit side

    List the items that might appear on the debit side and credit side of a partner's fluctuating capital account. Answer: On debit side: Drawing, interest on drawing, c

    		•
  • Q : Partners-firm and firms name What do

    What do you understand by the terms partners, firm and firms name? Answer: The persons who have entered into a Partnership with each other are individually termed 'P

    		•
  • Q : Key elements of the Shell’s ethical code

    What are the key elements of the Shell’s ethical code? Describe in brief?

    		•
  • Q : Influence of managers

    Write down a short note on the influence of manager’s behavior in management accounting information?

    		•