Is a staff accountant an accountant?
Staff accountants usually work in an accounting department within a corporation or firm. While most find work in the financial industry, many pursue roles...
What is DP in investment?
What is the Depository and Depository Participant (DP)? A Depository is an organization which holds securities (like shares, debentures, bonds, government...
Which accounting standard is for depreciation?
IAS 16 defines depreciation as ‘the systematic allocation of the depreciable amount of an asset over its useful life’. The ‘depreciable amount’ is the cos...
How do I find my posting key in SAP?
Step-1: Enter the transaction code OB41 in the SAP command field and click Enter to continue. Expand SAP Customizing Implementation Guide → Financial Acco...
What is the importance of share capital in a company?
Share Capital plays a very important role in the structure of a limited company. Each company, with share capital, has both authorised and issued shares, ...
What is the adjusting entry for merchandise inventory?
Assuming that the amount of the physical count of the stock of merchandise is less than the recorded amount, the adjusting entry is a debit to Cost of Goo...
How do you record a declaration of dividends on a property?
The declaration to record the property dividend is a decrease (debit) to Retained Earnings for the value of the dividend and an increase (credit) to Prope...
Why traditional costing systems can provide misleading information for decision making?
6.3 TRADITIONAL COSTING SYSTEMS PROVIDE MISLEADING INFORMATION FOR DECISION-MAKING Traditional systems often tend to rely on arbitrary allocation of indir...
Are credit sales on account?
You can find a company’s credit sales on the “short-term assets” section of a balance sheet. Because companies don’t receive payments from credit sales fo...
What is a normative example?
For example, “The car is red,” “The river is flowing quickly,” “I’m sad that my juicer is broken,” “Brutus killed Caesar.” A normative statement is a clai...
