Why you want to be an accountant
Why you want to be an accountant?
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The stereotypical answer to this matter is that accountancy provides a respected professional qualification that can lead on to a broad range of opportunities in industry. This is all factual, however it does not answer the question of why you want to become an accountant - and when you give as common an answer as this, you can expect to be questioned in aspect on the nature of the requirement and the prospects you see it leading to.
A lot of the income of the bigger accountancy firms now comes from consultancy and associated services instead of from audit. Even in audit you will use much of your time visiting clients and ask questions, for this, good interpersonal skills are very important.
Accountancy is now a rapid changing profession, therefore they are looking for individuals with inventiveness who can administer change.
Describe the status of partnership from an accounting point of view? Answer: From an accounting point of view, partnership is a separate business entity. From legal
Traceability: The capability to assign a cost directly to a particular activity or cost object by identifying or observing particular resources used by the activity or cost object.
A function of measuring and assigning production costs to determine the unit cost. Actual revenue assigns the real cost of materials, labor, and overhead to ma
Give reasons in favor of having a partnership deed. Answer: A) In situation of any dispute or doubt, Partnership deed is the gui
Common Cost: It is the cost of resources used jointly in the production of two or more outputs and the cost can’t be directly traced to any one of those outcomes.
Partnership Accounting: A business can be a firm, a partnership, or a solitary proprietorship. The corporation is incorporated at state level. The sole proprietorship is one person in business. A partnership is two or more than two persons with an agr
Cost Reduction: The procedure of looking for, finding and eliminating unwarranted expenses from the business to raise gains without containing a negative impact on the product quality. Most of the business managers will engage in periodic cost reducti
What do you mean by the term key performance indicators or KPI? Explain in brief?
A) A partnership may be formed either expressly or impliedly, and in each case all the circumstances should be examined in order to ascertain: The intention of the parties; Whether there has been a
Responsibility Center: It is an organizational unit headed by the manager or a group of managers who are responsible for its actions. The responsibility centers can be measured as revenue centers (that is responsible for revenue or sa
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