Why you want to be an accountant
Why you want to be an accountant?
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The stereotypical answer to this matter is that accountancy provides a respected professional qualification that can lead on to a broad range of opportunities in industry. This is all factual, however it does not answer the question of why you want to become an accountant - and when you give as common an answer as this, you can expect to be questioned in aspect on the nature of the requirement and the prospects you see it leading to.
A lot of the income of the bigger accountancy firms now comes from consultancy and associated services instead of from audit. Even in audit you will use much of your time visiting clients and ask questions, for this, good interpersonal skills are very important.
Accountancy is now a rapid changing profession, therefore they are looking for individuals with inventiveness who can administer change.
Explain the term bank reconciliation statement?
Actual Cost: It is the amount (sum) determined on the basis of cost acquired involving standard cost appropriately adjusted for the applicable variance.
Avoidable Cost: The cost related with an activity which would not be acquired if the activity were not executed.
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
Describe fluctuating capital of partners? Answer: Partner‘s capital is stated to be fluctuating if capital modifies with every transaction in the capital accou
Indirect Cost: A cost which can’t be recognized particularly with or traced to a specified cost object in an economically feasible manner.
Please see attached. Do tutors provide assistance as to how they came about their answers?
Full Cost: The sum of all costs needed by a cost object comprising the costs of activities executed by other entities in spite of of funding sources.
What do you mean by the term Mission statements? Briefly describe it.
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