A results edition.Season 5 winner Taylor Hicks returns to the stage for a performance before one more contestant is released.
Thursday, April 30, 2009
Watch American Idol Season 8 Episode 34 Online | Result Show
Results Show
A results edition.Season 5 winner Taylor Hicks returns to the stage for a performance before one more contestant is released.
Watch Now
A results edition.Season 5 winner Taylor Hicks returns to the stage for a performance before one more contestant is released.
Watch Now
Sunday, April 19, 2009
Description- Underlying Assumptions
1. ACCRUAL:
Accrual implies:
(a)Revenues should be recognized when earned whether received or not.
(b)Cost and expenses should be recognized when incurred whether paid or not.
2. GOING CONCERN:
The concept implies that the enterprise will continue in a foreseeable future (at
least twelve months after the balance sheet date).
3. MATCHING OF COSTS AND REVENUES:
Expenses should be matched with revenues whenever it is reasonable and
practicable to do so.
4. ECONOMIC ENTITY ASSUMPTION:
The assumptions implies that economic events should be identified with particular
unit of accountability.
5. MONETARY MEASURMENTS:
Only those transactions and events are recorded which can be measured in monetary
terms, e.g. sale, purchases, expenses, fixed assets.
6. DUALITY:
Every transaction has a double effect a basic principle of double entry
accounting.
Accrual implies:
(a)Revenues should be recognized when earned whether received or not.
(b)Cost and expenses should be recognized when incurred whether paid or not.
2. GOING CONCERN:
The concept implies that the enterprise will continue in a foreseeable future (at
least twelve months after the balance sheet date).
3. MATCHING OF COSTS AND REVENUES:
Expenses should be matched with revenues whenever it is reasonable and
practicable to do so.
4. ECONOMIC ENTITY ASSUMPTION:
The assumptions implies that economic events should be identified with particular
unit of accountability.
5. MONETARY MEASURMENTS:
Only those transactions and events are recorded which can be measured in monetary
terms, e.g. sale, purchases, expenses, fixed assets.
6. DUALITY:
Every transaction has a double effect a basic principle of double entry
accounting.
UNDERLYING ASSUMPTIONS
1. Accrual
2. Going Concern
3. Matching of costs and revenues
4. Economic entity
5. Stable monetary unit
6. Monetary measurements
7. Duality
2. Going Concern
3. Matching of costs and revenues
4. Economic entity
5. Stable monetary unit
6. Monetary measurements
7. Duality
Wednesday, April 15, 2009
Objectives of Financial Accounting.
The objective is to provide information about the financial performance and financial position that is useful to a wide range of users.
Financial statement are the basic tools for communication of accounting information to the user.
Financial statement are the basic tools for communication of accounting information to the user.
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