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Financial Accounting Concepts
Capital Expenditure Vs Revenue expenditures in Accounting
Capital Expenditure Capital expenditures comprise costs incurred for the acquisition of a fixed asset, such as land, a building, a car, machinery, etc. It also
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Financial Accounting Concepts
Accounting for not-for-profit organisations
A not-for-profit organisation is a business or entity established by individuals to further an end, not-for-profit and charitable. Not-for-profit organisations
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Cost Accounting
Method of Absorbing Overhead to Various Products or Jobs
Overhead Absorption A method of overhead absorption in cost accounting is a method of allocating expenses and gains to cost centres within a business. Benefits
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Financial Accounting Concepts
Some Basic Accounting Questions You Should Be Aware of
General Accounting Concepts If you are an accounting student, these questions must be helpful in ensuring that you know basic accounting concepts. 1. In busines
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Financial Accounting Concepts
The Rationale for Preparing Cash Flow Statement
Cash Flow Statement A cash flow statement is a report that measures and illustrates the company’s ability to generate revenues and meet its financial needs of t
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Financial Accounting Concepts
What is the Current Ratio and Current Ratio Formula?
What is the Current Ratio? The current ratio is a measure of the short-term financial liquidity of a business. It is the ratio of current assets to current liab
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Financial Accounting Concepts
Partnership Accounting: Preparing Appropriation Account
What is a Profit and Loss Appropriation Account? In this post, we will talk about appropriation accounts in accounting for partnerships. The appropriation accou