Provisional Entries
Describe Provisional Entries?
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Provision entries are the entries which are made to account for expenses which have not been accounted in the period for which it associates. Therefore debiting the expenses and crediting the party account or liability account forms the provision.
You must prove your calculations The following information pertains to Blue Company revenue cycle and was reported at December 31, 2011. Year 2011, additional information is as follows: 1. 100 units that was purchased fo
Value-Added Activity: An activity which is judged to contribute to customer value or gratify an organizational requirement. The characteristic "value-added" reflects a belief that the activity can’t be removed without decreasing
Explain the term fixed capital of partners? Answer: Partners' capital is state to be fixed if the capital of Partners remains unchanged except in the situation where
A partnership is stated as ‘the relationship which subsists among persons carrying on business in common with a view togain or profit’
Avoidable Cost: The cost related with an activity which would not be acquired if the activity were not executed.
Process Value Analysis: Tools and methods for studying processes via customer value analysis. Its objective is to recognize opportunities for lasting enhancement in the performance of an association. It offers an in-depth review of wo
Explain the term bank reconciliation statement?
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
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.
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
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