What is mean by appropriation?
Latest Answer: An authorize public funds set aside for a specific purpose. ...
What is Budgeting? How does it help to management in taking the decisions?
Latest Answer: Budget is a numeric representation of the manager’s plans for a specified period of time. It is commonly used by business firms, governmental agencies, non-profit organizations and even households. While there is considerable variation in the scope, ...
Why are contingent liabilities ever recorded—why not just wait until a lawsuit is settled? What accounting concepts apply to this situation?
Latest Answer: Any enterprises should be disclosed present obligation arising out of event but not recgnised as provision. ...
How to prepare funds flow statement?
Latest Answer: A fund flow statement or a cash flow statement records the changes in monetary funds over a period of time, usually by comparing the latest position at balance sheet date with the corresponding monetary position a year ago. There are various elements ...
What is the difference between cash basis and accrual basis Balance Sheet?
Latest Answer: Under cash system of accounting, transactions are recorded in books on the basis of their actual payment or receipt made. Under the accrual basis of accounting, the transaction are record on their occurrence in the business regardless of actual payment ...
How FIRC accounting is done?What is the status of prepaid insurance accounting?
What is commited cost?
Latest Answer: Committed cost is a fixed cost which results from the decisions of the management in the prior period and is not subject to the management control in the present on a short run basis. They arise from the possession of production facilities, equipment, ...
Explain What is Gross Profit Margin?
Latest Answer: We can simply express it as Gross profit/Sales*100 ...
What procedures are in place to ensure that a sponsored project is carried out in compliance with the terms, conditions and financial management and reporting requirements of both the municipality and
Latest Answer: Trading / Profit and Loss A/C and Balance Sheet are accounting report of a Company. ...
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