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accounting period for the purpose of bringing temporary accounts balance to zero so that we may begin the next accounting period with zero balance. Or we can define it more precisely as those journal entries that are made to transfer tempor...
Accounts Construction activities are the domestic investment that contributes in raising the national income of the company. Mainly, the construction income comes under the head of domestic investment. The central object of macroeconomic an...
I developed professional administrative and interpersonal management skills to support a private firm for 5 years and two Federal Government agencies for over 15 years. After high school, I immediately enrolled into Barr Business School wh...
assumptions. The projected balance sheet is a vital source of generating strategic financial planning. Long term business plans can be accomplished only with the creation of a projected balance sheet. Future asset growth is one of the top m...
concepts of Revenues and Expenses. The only thing that is vital in cost accounting is the classification of various costs that the company incurs in manufacturing their product. There is one other branch of Accounting which is known as Mana...
Adjusting entries are entries required to adjust the balance of certain general ledger accounts at the end of year. These entries must absolutely be recorded in the general journal and subsequently reported to the general ledger prior to th...
cost are particularly addressed by the ASC 720-15 (i.e. formerly statement of the position 98-5, Reporting on the cost of Start-Up Activities).Start up cost can be defined broadly as activities that are related to any of the cost related su...