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Final accounts gives an idea about the profitability and financial position of a business to its management, owners, the public and other interested parties. All business transactions are first recorded in a journal .
Examples of common financial accounts are sales, accounts [1] receivable, mortgages, loans, PP&E, common stock, sales, services, wages and payroll. A chart of accounts provides a listing of all financial accounts used by particular business, organization, or government agency.
However, due to the fact that accounting is kept on a historical basis, the equity is typically not the net worth of the organization. Often, a company may depreciate capital assets in 5–7 years, meaning that the assets will show on the books as less than their "real" value, or what they would be worth on the secondary market.
NCERT has a comprehensive extension program in which departments of the National Institute of Education, Regional Institute of Education, Central Institute of Vocational Education, and field coaches' offices in the states are engaged in activities. Several programs are organized in rural and backward areas to reach out to functionaries in these ...
In the Class 7 textbook topic titled “Our Pasts-2”, pages 48 and 49 have been excluded. These pages mentioned “Mughal Emperors: Major campaigns and events.” The deletions also affected Biology and Chemistry textbooks as the theory of evolution and the periodic table were also purged from class 10 NCERT textbooks. [40] [41]
Dali flew back to New York on Dec. 4, and was then taken into custody by authorities in the U.S. During an interview with the FBI, Dali admitted to stowing away and to intentionally evading ...
We all have unique schedules, challenges, and responsibilities. But there’s one thing almost everyone can relate to while hustling through the 21st century: stress. For many, stress and weight ...
However, there are instances of accounts, known as contra-accounts, which have a normal balance opposite that listed above. Examples include: Contra-asset accounts (such as accumulated depreciation and allowances for bad debt or obsolete inventory) Contra-revenue accounts (such as sales allowances) Contra-equity accounts (such as treasury stock)