Explain accounting concepts
Give a brief introduction of the term ‘accounting concepts’?
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Accounting concepts are those basis suppositions upon which essential procedure of accounting is depending.
The basic accounting concepts are illustrated below:
i) Business Entity Concept ii) Dual Aspect Concept iii) Going Concern Concept iv) Accounting Period v) Concept Cost Concept vi) Money Measurement Concept vii) Matching Concept
Describe briefly the term ‘Derivatives’?
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Write down a brief contrast on the term ‘Financial Accounting’ and ‘Management Accounting’?
Write down a brief contrast on the term Cost Accounting and Management Accounting?
Give a small introduction of the term ‘Taylor Differential Piece Rate System’?
Give a brief introduction of the term Fixation of inventory levels?
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Rusties Company recently implemented an activity-based costing system. At the beginning of the year, management made the following estimates of cost and activity in the company’s five activity cost pools: Activity Cost Pool Activity Measure Expected Overhead Cost Expected Activity Lab
Write down the number of day is public issues of shares kept open?
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