Accountancy involves the preparation of the final accounts to show the result of the business at the end of the financial period. The man who is entrusted with this work is called an accountant. His work is not only to supervise the work of the book-keepers but also to analyses, review and draw conclusions from the final accounts. His work is of a specialized nature and he must be well versed with the principles of accountancy.
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- Face value
The face value is the amount of principal the issuing company must pay at eh maturity date.
- Privately held corporation
Privately held corporation is a corporation that has only a few stockholders and whose stock is not available for sale to the general public.
- Dates for dividend declaration
Three dates are important in connection with dividends: (1) the declaration date, (2) the record date, and (3) the payment date.
- Quality of earnings
Quality of earnings provides full and transparent information that will not confuse or mislead users of the financial statements.
- Total cost of work in process
Total cost of work in process is the cost of the beginning work in process plus total manufacturing costs for the current period.
- Debit investments
Debit investments are investments in government and corporation bonds. In accounting for debt investments, companies make entries to record...
- Sales revenue
The primary source of revenues for merchandising companies is the sale of merchandise, often referred to simply as sales revenue or sales.