Financial Accounting
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12 Accounting Concepts – Summary
Accounting Concepts are the underlying assumptions used to produce a business’s financial statements. The term “concept” refers to an idea…
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When changes in accounting policies are permitted?
Though ‘consistency’ is a fundamental accounting assumption, it does not imply that accounting policies adopted once cannot be altered ever…
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What are fundamental accounting principles?
Accounting is a necessary component of any organisation, regardless of its size. Corporate and accounting are inextricably linked in today’s…
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Ethical Perspective in Accounting Profession
Accountants have a significant responsibility to the public. This responsibility exists because outside shareholders, creditors, employees, and others rely on…
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Who are various decision-makers who rely on financial statements?
Recall that the primary goal of financial accounting is to provide decision-makers with useful information. This section identifies the major…
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वित्तीय लेखों की कमियाँ
वित्तीय लेखों की कमियों का अध्ययन करने से पूर्व वित्तीय लेखों का अर्थ समझना आवश्यक है। साधारणतया वित्तीय लेखों का…
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What are the benefits of self-balancing systems
Some of the common benefits of self-balancing systems are as follows: Easy to locate errors: If there is any error…
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Choosing the Best Accounting Books
Some of the best accounting books that you can buy books that will provide an overview and explain the basic…
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What is the role of auditors in LLCs
In a limited liability company, there is a separation between ownership and control. In other words, the people who own…
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Cost-Volume-Profit Analysis: Advantages and Disadvantages
The cost volume profit analysis examines the effect of various factors on the profits made by an organisation. There are…
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