Ads
related to: accounting resume objective exampleresume.co has been visited by 10K+ users in the past month
lawdepot.com has been visited by 100K+ users in the past month
Search results
Results from the WOW.Com Content Network
In accounting practices, vendor-specific objective evidence (VSOE) is a method of revenue recognition allowed by US GAAP that enables companies to recognize revenue on specific items on a multi-item sale based on evidence specific to a company that the product has been delivered.
Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. [3]
Generally Accepted Accounting Principles (GAAP) [a] is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC), [1] and is the default accounting standard used by companies based in the United States.
The specific functions and principles followed can vary based on the industry. Management accounting principles in banking are specialized but do have some common fundamental concepts used whether the industry is manufacturing-based or service-oriented. For example, transfer pricing is a concept used in manufacturing but is also applied in banking.
Systematic recording of transactions: basic objective of accounting is to systematically record the financial aspects of business transactions (i.e. book-keeping). These recorded transactions are later on classified and summarized logically for the preparation of financial statements and for their analysis and interpretation.
Organizational objectives include the selection of strategic partners, the distribution of tasks among companies, process management and ensuring the provision of information to all participants. The information-oriented supply-chain controlling concept emphasizes providing partners with relevant information for decision-making.
Ads
related to: accounting resume objective exampleresume.co has been visited by 10K+ users in the past month
lawdepot.com has been visited by 100K+ users in the past month