what is an accounting period and how is it linked to the accounting cycle 相关知识点: 试题来源: 解析 A:Accounting Period :(1) In general,the time period reflected by a set of financial statements.(2)"Time covered by financial statements,which can be for any length but is usually annual,...
In Accounting, What Is the Difference Between a Liability Account and an Expense Account?. Accounting gives a business a way to keep track of its liabilities and expenses. A liability refers to a financial obligation, or upcoming duty to pay. An expense
英语翻译What is Accounting?Accounting is an information science used to collect,classify,and manipulate financial data for organizations and individuals.Accounting is instrumental within organizations as a means of determining financial stability.Accountants are responsible for determining an organization’s ove...
Accounting is the systematic recording, reporting, and analysis of financial transactions of a business. The person in charge of accounting is known as an accountant, and this individual is typically required to follow a set of rules and regulations, such as the Generally Accepted Accou...
What type of account should uncollectible income go to in accounting? What is a write off balance in accounting? What type of account should write offs go to in accounting? What are nominal accounts in accounting? What is an accrual book in accounting?
Definition of Accounting Period An accounting period is the period of time covered by a company’s financial statements. Common accounting periods for external financial statements include the calendar year (January 1 through December 31) and the calendar quarter (January 1 through March 31, April ...
In accounting, goodwill is an intangible asset associated with a business combination. Goodwill is recorded when a company acquires (purchases) another company and the purchase price is greater than 1) the fair value of the identifiable tangible and intangible assets acquired, minus 2) the liabili...
In accounting, the float refers to the time difference between the time when the cheque is written and the time when the bank clear the cheque. In...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts can answer your ...
Upon the closing of these accounts, the net income is transferred intoretained earnings, which appear on the balance sheet. A company may elect to use retained earnings in several different ways. They can be used to issue payments to stockholders as an incentive to maintain ownership. This paym...
In accounting, impairment refers to an unexpected and permanent drop in a fixed or intangible asset's value to a market value that's less than what's recorded on a company's balance sheet. The amount is recorded as a loss on the income statement. ...