you agree or disagree upon accounting debits and credits as an information system?

Q: Can you name some common errors in accounting?

A: Some of the common errors in Accounting are as under: Error of omissions: Here some transactions…

Q: What is the definition of accounting?

A: Accounting is the process of recording financial transactions related to a business. The accounting…

Q: Financial accounting serves what purpose

A: Introduction : Financial accounting The process of preparing financial statements, which comprise…

Q: What is the primary purpose of an accounting system?

A: the primary objective of accounting is to record the financial transactions in the books of…

Q: Why is it necessary to develop a definitional frameworkfor the basic elements of accounting?

A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…

Q: What type of internal and external accounting reports will you use in the process of making…

A: Internal accounting reports are managerial reports which are generated for use by managers at…

Q: What are the objective of any accounting system?

A: The accounting information system is software in which inputs are added in the form of sales or…

Q: What is the purpose of reporting accounting theory?

A: This question explains about the purpose of reporting accounting theory

Q: An accounting policy is

A: Accounting policy are not judgement applied to record a transaction. Accounting estimates are…

Q: What are different types of accounting information?

A: Introduction: Accounting: Accounting is an art of recording, classifying , summarizing and…

Q: which internal users need the accounting information

A: Accounting information data is the data that emerges from business exchanges. When distinguished,…

Q: What is the difference between accounting and bookkeeping

A: Bookkeeping and accounting are both are relatable and most essential for business transactions to be…

Q: Difference between bookkeeping and ​accounting

A: Account: It can be defined as a record that is maintained in the general ledger and is used to store…

Q: ng information?

A: Concept: Information contains in the financial statements is said as free from bias. It reflects a…

Q: What are the basic accounting rules?

A: Introduction: To understand the golden principles of accounting, you must first learn everything…

Q: = does an Accounting Information System play in

A: Accounting Information System (AIS):  It is a system that is designed to collect store and process…

Q: Who are the èxternal user's of accounting information

A: The accounting information is used by the external user and internal user. The External users are…

Q: In history's accounting practise, what function does an Accounting Information System play?

A: Accounting information system (AIS) is a collective mechanism wherein information or data related to…

Q: What are the different assumptions of Accounting principles?

A: Accounting assumptions provide a fundamental base and structure to record business transactions.The…

Q: Explain in brief the term ‘Accounting’ and give any two differences between bookkeeping and…

A: The term Book keeping and Accounting are often used interchangeably but this two are not synonymous.…

Q: Principles

A: Answer: Accounting is the subject that is more concerned with the treatment of the numbers so that…

Q: What exactly do you mean by the idea of materiality in accounting?

A: This question explains about the idea of materiality in accounting

Q: Explanation of double entry accounting and its relationship to pertinent accounting concepts

A: The notion of double-entry is critical in the accounting system since it allows for more accurate…

Q: Is accounting theory really necessary for the making of accounting rules?

A: Solution:- Is accounting theory really necessary for the making of accounting rules:- Accounting…

Q: W

A: According to AICPA, "accounting is an art of recording, classifying, summarizing in a significant…

Q: What is the purpose of accounting?

A: Accounting is the process of recording the financial transactions and events of a business. The…

Q: How do you maintain accounting accuracy?

A: Maintaining accuracy in the accounting records is an essential requirement for every entity involved…

Q: What are the roles of transaction in accounting?

A: The transactions are the business events that can be measured in monetary form.

Q: What is an accounting system for?

A: Accounting system basically refers to the way of maintaining the books of accounts. It is an…

Q: What accounting terms should I be familiar with?

A: . Accounting information summarizes and reports on a company's financial actions. Companies might be…

Q: Difference Between Financial Accounting And Bookkeeping?

A: Definition:   Bookkeeping: Bookkeeping is the process of recording financial transactions and other…

Q: What is the aim of accounting, to put it in the broadest possible terms?

A: Introduction: A business's financial events and transactions may be summarized and recorded in…

Q: How is the use of accounting information diverse and varied?

A: Definition: Accounting Information: Accounting Information refers to the data which makes a decision…

Q: Why accounting is an infromation system? Explain with your own point of view with example.

A: Accounting Information Systems helps to perform the tasks in the job of Budget Analysis. An…

Q: What's the difference between credit and debit in accounting terms

A: There are three golden principal of accounting.

Q: Why is the evidence provided by source documents important to accounting?

A: Source Document Source document are refer as the original record which contains the detail…

Q: In broad general terms, what is the purpose of accounting?

A: Accounting: It can be defined as the process of summarizing and recording the financial events and…

Q: Which came first? Accounting regulations or the need for accounting regulations? Explain.

A: Accounting regulations are important part of accounting and regulation of accounting make accounting…

Q: What is GAAP, Generally Accepted Accounting Principles?

A: The Generally Accepted Accounting Principles (GAAP)is a set of rules used for helping…

Q: n conceptual framework resolve accounting problems? How?

A: Introduction: Conceptual framework is a guide for preparing financial statements by identifying the…

Q: What concepts and terminology are utilized in accounting?

A: Introduction: A company's financial transactions are tracked through accounting, which is the…