Illustrate the general role of accounting
Briefly illustrate the general role of accounting?
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The general role of accounting that is to assist people in making informed business decisions. All forms of accounting, comprising management accounting, are mainly concerned with collecting and analyzing financial information and then communicating this information to such making decisions.
Describe the status of partnership from an accounting point of view? Answer: From an accounting point of view, partnership is a separate business entity. From legal
Give reasons in favor of having a partnership deed. Answer: A) In situation of any dispute or doubt, Partnership deed is the gui
Write down a brief note on the illustrations of unethical and unacceptable actions?
Operating Budgets: It is a financial document which aids a business in making significant decisions regarding its actions. An operating budget does not contain instant impact on the actual state of the business and exhibits only future projections. Bu
A financial analysis tools that measures the need for financing. The formula is the cash-flow from operating activities divided by the cash paid for long-term asset. Cash paid for long-term assets can be found on the statement of cash-flow, in the investing-activities
What do you mean by the term balancing risk and return? Explain in brief?
A) A partnership may be formed either expressly or impliedly, and in each case all the circumstances should be examined in order to ascertain: The intention of the parties; Whether there has been a
Describe the provision of 'Indian partnership Act 1932‘concerning sharing of profits in lack of any provision in partnership deed. Answer: In the lack of any p
Write down the different techniques employed to liberate the function of management accounting?
1) Dissolution ENDS the partnership. a) Action of the parties: • By the expiration of a fixed term;• If entered
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