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understanding the existing capital requirements and how these are financed will assist us in understanding the process of financing of business
inventory supplies and prepaid expensesyou can well understand the requirements for carrying inventory so as to carry on operations
in most situations this will be essential to grant credit to customers it may be essential either due to competition or because of the custom of
this is difficult to perceive cash maintained in the vault as an investment fairly you would be thinking that if we invest cash then how can cash
now along with the illustration of ramsons at hand this is not tough for us to understand that ramsons have invested the money to make money where
after you have studied this section you should be capable to know the idea of funds flowing by a business in a dynamic situation understand the role
what are the aims and objectives in studying the impacts of accounting standards in the preparation of financial
i3939m about to take my first cost accounting class in college do i need algebra skills to do well on this
vorticella can first be seen by the naked eye but to study it place a prepared slide under the microscope focus it under low power and observe it you
place a prepared slide of paratuecium under the microscope and focus it under low power 5x x 5x and observe the followingi it has a cigar-shaped
place a prepared slide of giardia first under tlie low power and then under the high power of the microscope and observe tlie followilig charactersi
place a prepared slide of trypunosoma under tlic microscope and focus it under low power you will observe large number of tiny spindle-shaped
both the parts profit and loss account and trading account of last account are interdependent upon each other gross profit or loss plays a very
this is the income received but not earned throughout the accounting period conversely this is the income for those services are to be rendered in
accrued income is an amount earned although not in reality received during the accounting period or till the date of preparation of last accounts for
expenses paid in previous of their use or consumption is termed as prepaid expenses at the ending of the year a portion of the payment keeps
expenses are usually recorded only while they are paid the failure to record unpaid expenses in the accounts outcomes in an understatement of which
a provision must be made in advance for those debts whose recovery is uncertain and to writing off bad debts each enterprise depends on their past
these are losses on account of uncollectable debts while the amount due from debtors is irrecoverable it is termed as bad debts bad debts being loss
this is the amount charged due to the usage and passage of time fixed assets are utilized for earning revenue thus a decrease in their value is
the value of un-sold stock the stock is valued at cost or market price either is lower usually the closing stock is not specified in the trial
accounts are prepared according to accounting concepts principles and conventions as final accounts are prepared on accrual basis this becomes
reserves and surplus or retained earnings usually occur out of profitable operations this is a surplus not distributed through the firm as dividends
capitalwe have seen previous in this section that the fundamental accounting equality states asassets liabilities owners equity from the
long-term liabilitiesthese are usually for more than one year they cover almost all the outsiders liabilities not comprised in the current