Why teaching of accounting is not simple
Why teaching of accounting is not simple. Illustrate this statement.
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Teaching of accounting is not simple, each and every student is challenge for accounting teacher and lots of concepts are very hard to make understand to students. One of such is to teach the concept of debtor, bad debt and provision for uncertain debt.
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Significant costs associated with the disposal of asset. Accounting for asset retirement obligations requires estimating the cost and discounting estimate. The present value added to the asset's depreciable base and a liability is recorded for the obligation. Every year, interest expense is added
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Need for valuing goodwill: If the mutual rights of the partners modifies then the party which makes a sacrifice should be compensated. This basis of compensation is goodwill therefore we require calculating goodwill. Mutual rights change beneath follo
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