Characteristics which accounting information posess
What are the key qualities or characteristics which accounting information should possess?
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The accounting information must possess certain key qualities or characteristics which are as follows:
a) Relevance.b) Reliability.c) Comparability.d) Understandability.
From the books of Aggarwal Bors, the following information have been extracted: Rs. Sales 2,40,000 Variable costs 1,44,000 Fixed costs 26,000 Profit before tax 70,000 Rate of tax 40% The firm is proposing to buy a new plant which can generate additional annual profit of Rs. 10,000. The fixed
Limited partnerships: Limited partnerships are an alternative to limited liability companies because of their simplicity. All the states encompass passed limited partnership legislation.A limited partn
Job Order Costing: A technique of cost accounting which accrued costs for individual jobs or lots. A job might be a service or manufactured item, like the repair of tools or the treatment of a patient in the hospital.
How have you observed the regulations which affect both your industry and your accounting place?
An account in financial reporting that increases the book value of a liability account. An adjunct account is a valuable account from which cred
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Write a brief note on the things which Opportunities comprises?
ACCOUNTING CONCEPTS: Presented below are basic accounting principles or concepts, with which hospital managers should be familiar and that they should understand i
Common Cost: It is the cost of resources used jointly in the production of two or more outputs and the cost can’t be directly traced to any one of those outcomes.
Traceability: The capability to assign a cost directly to a particular activity or cost object by identifying or observing particular resources used by the activity or cost object.
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