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the core principles of financial internal control are explained here accounting and financial operations can be separated and the main purpose is the
an audit helps stay track of where the currency or money is going and makes sure the money is going anywhere it is believed to and not in
it is a tax based on the assessed value of personal property or real estate ad valorem taxes can be property taxes or even duty that is levied on
accounting ratios that determine a firms ability to convert various accounts within their balance sheets into sales or cashcompanies will usually try
money payable by customers individuals or corporations to the other entity in exchange for goods or services that have been given or used but not yet
an accounting ledger that reveals the transaction history and amounts owed independently for each supplier from whom the business gets credit for
a method of expressing the relationship between one accounting result and the other which is intended to give a useful comparison accounting
arr gives a fast estimate of a projects value over its useful life arr is derived by determining profits before taxes and interest arr is an
accounting profit is a companys sum total earnings computed according to generally accepted accounting principles gaap and involves the
accounting principles are the rules and guidelines that companies should follow when reporting and accounting financial data the general set of
1 in common accounting period is the time period reflected by a series of financial statements 2 in terms of taxation it is twelve-month
accounting method is the method by which income and expenses are accounted for taxation purposes the internal revenue service needs taxpayers to
accounting cycle is the name given to the combined process of recording and processing the accounting proceedings of a company the series of steps
acrs is a system of depreciation started by the economic recovery tax act of 1981 acrs depreciation relies on recovery periods in spite of useful
it is a managerial accounting cost method of expensing all costs related with producing a particular product absorption costing utilizes the
these are the indirect costs that are related with manufacturing absorbed costs involve expenses like insurance or property taxes for the
define vat what is excise vat refers for value added tax that is termed as charged on profit earned by firm for example example let suppose a
calculation of leverage ratios - 200820092010uebit or operating profit
calculation of efficiency ratios - 200820092010mnet
calculation of profitability ratios - 200820092010gnet sales85066161199369916064038hgross
calculation of liquidity ratios current ratio and acid-test ratio -
liquidity ratios - these ratios include the current ratio and the quick ratio or the acid test ratio liquidity ratios show the liquid position of a
efficiency ratios - these ratios include receivables turnover inventory turnover asset turnover and net working capital turnover ratios efficiency
profitability ratios - these ratios include the gross profit margin net profit margin operating margin return on equity roe and return on total
leverage or gearing ratios - these ratios include the long term debt to equity ratio total debt to equity ratio interest coverage ratio here the