Time remaining:
Please answer 2 accounting questions 8 sentences each?

Accounting
Tutor: None Selected Time limit: 0 Hours

What are the advantages of understanding accounting?

what are ways in which you will apply the accounting concepts?

Dec 19th, 2014

What are the advantages of understanding accounting?

The following are the main advantages of understanding accounting.

1. For own business

           a) you can easily workout your profit or loss earned or suffered during the accounting year.

          b) you can easily find out your financial position on a particular date (the value of assets and liabilities).

          c) you can easily catch your office people (those who maintains your account) if they did any mistake or 

              fraud or mis-handling of office cash.

2. For the other business

         a) you can take as a profession as an Accountant or an Auditor

         b)  You can help and find or catch the other person if anyone is doing or manipulating the accounts.

what are ways in which you will apply the accounting concepts?

       You can apply the accounting concepts by using the principles and conventions of Generally Agreed Accounting Principles (GAAP).

Dec 19th, 2014

Are you studying on the go? Check out our FREE app and post questions on the fly!
Download on the
App Store
...
Dec 19th, 2014
...
Dec 19th, 2014
Dec 5th, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer