Define accounting briefly explain the lsquoentity concept, Financial Accounting

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Define accounting briefly explain the lsquoentity concept

1. Define Accounting. Briefly explain the ‘Entity Concept' and ‘Money Measurement Concept' of accounting.

2. What is rectification of errors? List and explain the stages where the errors are deducted for rectification.

3. Explain the various steps in financial planning

4. What is inventory management and explain the following

a. Economic Order Quantity
b. Reorder Point

5. Explain the different steps involved in preparation of Fund Flow Statements.

6. What is cost? Discuss the factors involved in estimating the cost.

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Financial Accounting: Define accounting briefly explain the lsquoentity concept

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Financial Accounting: Define accounting briefly explain the lsquoentity concept

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