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Thursday, August 18, 2022
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Why organizations use costing systems An organisation’s costing system is the foundation of the internal financial information system for ma...
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Source Documents and the Books of Prime Entry Source Documents Whenever a business transaction take place, involving sales or purchases, r...
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The Trading Profit and Loss Account The trading profit and loss account is a statement showing in detail how the profit or loss of a period... -
Participating Interest Financial reporting standards (FRS) states that a participating interest is an interest is an interest held by an un...
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Purchase of a Business by a Limited Company Several advantages may stem from the “conversion” of a private business into a limited company ...
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Outputs from a Sales Ledger System Typical outputs in a computerized sales ledger are as follows. Day book listing. A list of all transact...
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The Separate Valuation Principle The separate valuation concept states that, in determining the amount to be attributed to an asset or liab...
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Scope of Accounting Management Accounting and Cost Accounting Management or cost accounting is a management information system which analys... -
Appropriation of Net Profits in Partnerships The net profit of a partnership is shared out between them according to the terms of their agr...
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Reporting Financial Performance The main abuse of SSAP related to the treatment of extraordinary items, particularly redundancy, reorganizat...
Introduction to accounting, Basic principals of accounting, Bookkeeping principles, Ledger accounts, Bank reconciliation, Financial statements, Incomplete records, Partnership accounts, Accounting for limited companies, Cash flow statements, Consolidated accounts.
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