DEFINE AND EXPLAIN  ACCOUNTING THEORY

Q: Discuss the history of Accounting?

A: Italy, birthplace of many of the world's most important historical figures like Michelangelo,…

Q: Explain the difference between management accounting and financial accounting.

A: ANSWER : Basis of difference Management accounting Financial accounting 1. Meaning…

Q: Explain breifely about the theories of accounting regulation – public interest theory, capture…

A: The four theories of accounting regulation are: Public interest theory, Capture theory, Economic…

Q: ACCOUNTING THEORY DEFINED AND EXPLAINED

A: Introduction: Accounting is maintaining records of financial events and transactions that occur in a…

Q: The reporting of accounting theory is related to what?

A: Accounting theory is all related to the preparation of financial statements of the business.…

Q: Describe significant accounting policies.

A: Definition: Accounting policies: Accounting policies are the specific principles and rules which…

Q: What are the golden rules of accounting?

A: Accounting is the process of recording, classifying and summarising financial transactions in order…

Q: What is accounting own words

A: Introduction:- Accounting may be defined as the process of recording and summarizing business and…

Q: this multiple choice questions from ACCOUNTING PRINCIPLES I

A: Question 13 option D is correct  income statement  Depreciation appears on income statement.

Q: What is financial accounting process

A:

Q: examples of decisions that can be supported by accounting information

A: Accounting information represents the financial information about the company which is useful for…

Q: How would you define the fundamental accounting equation

A: Fundamental Accounting Equation: The "basic accounting equation' refers to the mathematical equation…

Q: n the role of the accounting system according to the agency theory

A: Agency theory is one of the common problem in the organization form of the system and that exist due…

Q: nciples of accounting

A: Principles of accounting are the rules and regulations that must be pursued by an organization when…

Q: Understanding of accounting and its importance

A: Accounting is the process of recording, analyzing and summarizing the financial statement . It is…

Q: What do you mean by materiality concept in accounting?

A: Materiality concept:Materiality concept refers to a condition wherein, the financial information of…

Q: What are the Universal Standards in Accounting?

A: Universal standard of accounting is also known as International standard of accounting. The…

Q: Explain accounting principles.

A: Accounting principles: The conventions or rules those are required to prepare and report the…

Q: What are the ideas and language used in accounting?

A: Introduction: Accounting is the practice of knowing track of a company's financial activities.…

Q: Explain generally accepted accounting principles and define and apply several accounting principles.

A: Accounting principles: These are the assumption, concepts, and guidelines necessary to prepare and…

Q: Identify the two main categories of accounting principles.

A: Accounting principles are the principles and rules that organizations must follow when announcing…

Q: What are the different assumptions of Accounting principles?

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

Q: What is the most fundamental accounting model?

A: Solution:- Introduction:- Accounting model play vital role in accounting. Accounting model gives…

Q: Principles

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

Q: Define principles of Accounting?

A: Accounting is a way of recording money related transactions in the financial statements of an…

Q: Describe simply what accounting is.

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

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: Elaborate Functions of Accounting

A: The accounting is a process to identify the business transactions, record the transactions and…

Q: Can you explain the basic accounting equation?

A: The basic accounting equation represents the relationship between assets,liabilities and…

Q: The reporting of accounting theory is related to ........ Select one : a . Principles b .…

A: Accounting refers to the process of systematic recording of the transactions of the business. Such a…

Q: What is meant by accounting

A: Accounting refers to an art of recording transaction in the books of a company and using these…

Q: Explain the application of the basic principles of accounting.

A: Income tax expense:   The expenses which are related to the taxable income of the individuals and…

Q: What is the meaning of accounting?

A: Bookkeeping refers to the way of recording day-to-day business transactions and information.…

Q: accounting consept

A: Introduction Accounting Concept: Accounting concept refers to the fundamental assumptions,…

Q: Make logical comparison between financial accounting with other fields of accounting ?

A: Accounting It is a process under which financial transactions are recorded ,stored, retrieving ,…

Q: Example of a accounting equation

A: The fundamental accounting equation is mathematically expression derived from the principle of the…

Q: In general, what is the conceptual framework that underlies accounting principles?

A: Accounting principles are the specific rules and guidelines that are to be followed in preparation…

Q: what makes up accounting theory

A: An accounting theory is a notion that uses speculations, methodologies and frameworks in the study…

Q: Explain the different accounting concepts and conventions with examples

A: Accounting Concepts and Conventions exist to serve the basic objective of accounting, i.e, to…

Q: n conceptual framework resolve accounting problems? How?

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

Q: explain.

A: Last-in, first-out (LIFO) is an expression that stands for last-in, first-out. It's an inventory…

Q: Principles in accounting

A: Basic Accounting assumption are broad concepts that underlie generally accepted accounting…