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The accounting equation plays a significant role as the foundation of the double-entry bookkeeping system. The primary aim of the double-entry system is to keep track of debits and credits and ensure that the sum of these always matches up to the company assets, a calculation carried out by the accounting equation.
Other Comprehensive Basis of Accounting (OCBOA) in United States accounting refers to a system of accounting other than GAAP. As explained in the Journal of Accountancy , [ 1 ] under Statement on Auditing Standards (United States) No. 62, Special Reports , an OCBOA is any one of:
The money multiplier is normally presented in the context of some simple accounting identities: [1] [2] Usually, the money supply (M) is defined as consisting of two components: (physical) currency (C) and deposit accounts (D) held by the general public. By definition, therefore: = +.
Valuation is a subjective exercise, and in fact, the process of valuation itself can also affect the value of the asset in question. Valuations may be needed for various reasons such as investment analysis , capital budgeting , merger and acquisition transactions, financial reporting , taxable events to determine the proper tax liability.
The GFSM 2001 framework is similar to the financial accounting of businesses. For example, it recommends that governments produce a full set of financial statements including the statement of government operations (akin to the income statement), the balance sheet, and a cash flow statement.
Accounting Historians Journal 28.1 (2001): 67–90. online; Neu, Dean. "“Discovering” indigenous peoples: accounting and the machinery of empire." Accounting Historians Journal 26.1 (1999): 53-82 online; focus on Canada. Oldroyd, David. "The role of accounting in public expenditure and monetary policy in the first century AD Roman Empire."
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Microsoft Excel is a spreadsheet editor developed by Microsoft for Windows, macOS, Android, iOS and iPadOS.It features calculation or computation capabilities, graphing tools, pivot tables, and a macro programming language called Visual Basic for Applications (VBA).