What is periodicity concept of accounting period? The periodicity concept, can be also called the time interval concept, isa period during which business enterprises are required to prepare financial statement at specified intervals. ... In this type of enterprise, enterprises last indefinitely. In ...
False Numbers A significant issue when using accounting conservatism is the ability for a company to under-report income during a current accounting period and over-report income at a later date. This occurs because the company does not recognize revenue or creates a highallowance for doubtful acco...
Dividends are regular payments of profit made to investors who own a company's stock. Dividends can be paid in cash or reinvested back into the stock.
our questions, the contestants have a chance to answer it. And if they do answer it, then we basically are pushed back one step away from them. So our goal is to within two minutes, answer more questions than they do even accounting for the head start, and for them pushing us back....
It focuses on the number of months for which the depreciation can be claimed in the period when the asset’s utility began and the period when its utility ends. Here, you may opt for one of the following conventions: Convention Mid-Month Mid-Quarter Half-Year Beginning of Asset’s use ...
Accounting has many rules and standards. It is no surprise, then, that there are rules about purchases of long-lasting items, such as equipment, real estate, and furniture. These rules call for allocating purchase expenses to more than one period. The rules and allocations are part ofdepreciat...
amatching principle is an extension of the revenue recognition convention. It states that each expense item that is considered a revenue earned must be recorded in the same accounting period as the revenue was recorded. This will ensure that the expense is recorded properly. If it isn't recorde...
In depreciation, the mid-month convention means that an asset placed into service anytime during a given month is assumed to have been placed into service in the middle of that month. As a result, there will be one-half month of depreciation in that month. The same is true for the di...
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ValueIt is always lower than the Ask Price.It is always higher than the bid rate. ConventionA bid of ₹15 x 120 means that the potential buyers are bidding at ₹15 for up to 120 shares.Ask of ₹19 x 115 means that there are potential sellers willing to sell at this price. ...