What is CST & GST? with example
Latest Answer: CST is central sales tax and GST is goods and service tax. ...
When does a debtor become a creditor?
Latest Answer: On only one case - If he become a product supplier & we purchase the material from the party who is debitor for us. ...
What is the difference between (1) accounts payable and bills payable and (2) accounts receivable and bills receivable
Latest Answer: Accouts payable is your liability its shown liability side in the balance sheet and party ac will be credited Purchsed A/c To Party A/c ...
Give examples of problems that manifest themselves in accounting department?
Briefly discuss the difference between billable revenue and collections. Consider how a medical office might be helped or hindered by a disparity between receivables and collections.
How prepare funds flow statement?
Latest Answer: It is the statement of changes in financial position, prepared to determine only the sources and uses of working capital between dates of 2 balance sheets. ...
What difference between retail invoice and tax invoice?
What is authorised capital and How different it is from paid up capital? What is its importance while analysing a balance sheet of a firm?
Latest Answer: Authorised capital is the capital which a company is authorised to issue to the general  public, it cannot issue more than that limit. Paid up capital is the actual amount of capital  which the public has subscribed. ...
If a company change its depreciation method from Straight line method to another method than what will be the impact for the difference?
When inventory prices are declining the, FIFO method will generally yield a gross profit that is:A Less than the LIFO methodB Equal to the average cost methodC The same as that from any other costing methodD
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