Archive for ‘Accounting’

64 results.
Jan17

Accounting??????????

by mutong on January 17th, 2011
Posted In: Accounting

ABC Company received a Credit Memo from XYZ Company for merchandise returned, $450. ABC Company received a credit memo from XYZ Company for merchandise returned, $450. What would the transaction be?

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Jan16

Examples of Intangible Assets

by mutong on January 16th, 2011
Posted In: Accounting

Now, you have a basic idea about assets. Examples of assets include real estate, car and other vehicles, cash, accounts receivable, jewelry, office equipment, machinery in industry, insurance, trademarks, copyrights, patents, etc. All these are considered as assets. In short, assets owned by a person or firm, are those economic resources that can be converted […] ↓ Read the rest of this entry…

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Jan12

10 Generally Accepted Auditing Standards

by mutong on January 12th, 2011
Posted In: Accounting

The below mentioned generally accepted auditing standards consists of standards based on the general working standards, the standards related to field work, and also the standards related to the interpretations and the reporting. Have a look. The General Standards •In order to perform an audit, the auditor must possess adequate amount of proficiency through technical […] ↓ Read the rest of this entry…

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Dec23

Example for Cost Recovery Method

by mutong on December 23rd, 2010
Posted In: Accounting

The cost recovery method concept states that the business enterprise should not consider any income until it has fully recovered the cost on selling any product to its customers. This means that the gross profit the firm would be more only if it has manged to recover all its pending dues from the customers or […] ↓ Read the rest of this entry…

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