Define the accounts receivable ledger. What is it used for? If insurance goes into overhead, does that mean there is no insurance expense account? Explain how to account for selling a future payment stream in accounting. Explain why are back accounts payable added in the cash flow statement....
Describe the steps of the accounting cycle. Describe the common accounting term ''cash-to-cash'' and explain why it is used in financial analysis. Define the accounts receivable ledger. What is it used for? Provide the definitions of a discount bond and premium bond. Give...
@i8242630thanks a lot Do you know any other such word riddles, using the same structure?
Explain any three of the following accounting convention : (i) Full Disclosure, (ii) Consistency, (iii) Materiality and (iv) Conservatism. View Solution From the manager's point of view, 'objectives are the values which are to be achieved'. In the light of this statement, explain the thre...
Home Interview Questions Accounting General Ledger What are PTD, QTD and YTD? ExplainInterview Candidate May 18th, 2007 4 101595 General Ledger Answer First Prev Next Last Showing Answers 1 - 4 of 4 AnswersArun K Rajan Aug 1st, 2007 period to date for ex - can be same as YTD if ...
The role of accounting has now shifted from that of a mere recording of business transactions to that of providing information to mangagers and other interested persons in order to help them to make appropriate decisions. It is now regarded as an information system. Show More ...
Normally before Asset year end closing need to reconcile FI General Ledger data with Asset balances.Some times there is a difference between them. For that we need to execute ABST2 and find out the difference value. Once reconcilition process is completed then only Asset year closing process ...
The chart of accounts is a listing of all the accounts in the general ledger, each account accompanied by a reference number. The chart of accounts lists the accounts that are available for recording transactions. In keeping with thedouble-entry systemof accounting, ...
Continuous count means: To ensure the record cards are correct, store personnel will then need to at least count a few inventory items every day. This is so-called “continuous count” where it is spread out over the year rather than completed in one count at a designate...
Variance analysis in budgeting or management accounting in general is a tool of budgetary control by evluation of performance by means of variance between budgeted amount, planned amount or standard amt and the actual amt incurred/sold. Variance can be carried out for both revenue & cost. Varian...