Documente publicate de Teofil Cojocariu
Teofil Cojocariu
4 documente publicate în Biblioteca RegieLive
Operating Assets
Operating assets constitute the major productive assets of many companies. Current assets are important to a company’s short-term liquidity; operating assets are absolutely essential to its long-term future. These assets must be used to produce the goods or services the company sells to customers. The amount of... citește mai departe
Accounting for Fixed Assets
1. THE ENTRY BY PURCHASE: A company buys equipment in the following condition - Negotiated price 20000 units - Transportation expenses 800 units - Assemblage expenses 1200 units - VAT 19% - Useful life-4 years, straight line method depreciation for Accumulated depreciation PURCHASE COST=20000+800+1200=22000... citește mai departe
Accounting Practice
THE ACCOUNT The account is the basic unit used in accounting to summarise business transactions. Accounts are classified as follows: Øassets Øliabilities Øowner’s equity Assets are economic resources owned or controlled by an entity as a result of past transactions, which are expected to be of benefit in the... citește mai departe
Accounting Conceptual Framework
Accounting Conceptual Framework Generally Accepted Accounting Principles The entity concept (business – entity concept). Under the business entity concept, for accounting purposes, every business is conceived to be and is treated as a separate entity, separate and distinct from its owner or owners and from every... citește mai departe