Answer / saikiran

GAAP is exceedingly useful because it attempts to standardize and regulate accounting definitions, assumptions, and methods. Because of generally accepted accounting principles we are able to assume that there is consistency from year to year in the methods used to prepare a company's financial statements. And although variations may exist, we can make reasonably confident conclusions when comparing one company to another, or comparing one company's financial statistics to the statistics for its industry.

Answer / saikiran

Principles of accounting can also refer to the basic or fundamental accounting principles: cost principles, matching principles, full disclosure principles, materiality principles, going concern principles, economic entity principles, and so on. In this context, principles of accounting refers to the broad underlying concepts which guide accountants when preparing financial statements.

what is priority?

2 Answers  

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tell the ratio where the numerator and denominator should contain one from asset side and other from liabilities side

6 Answers   Capital IQ,

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Expand-----TOA

1 Answers  

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My company's accountant use two different way to calculate Depreciation,one as per Companies Act and another rate for Income Tax calculation. Why we have to use two way to calculate it? Can we just use one way to calculate?

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How many times can one buy and sell within a settlement cycle?

1 Answers   Mellon,

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where do u get credit opening balance?

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what is insider trading?

3 Answers   Capital IQ,

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Expand----------CDNR

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What is the working formula for Working Capital

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change needed for 100rs it should be 10 notes but it should not be 1ors notes?

3 Answers   Wipro,

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Hi dis is lalitha. I got selected for muthoot finance PO for the final interview. can u plz tell me what type questions they will ask? my mail id is plalitha87@gmail.com. can u plz pass the questions to my mail, my interview is on jan 04,2012. Thanks in advance.

2 Answers   Muthoot Group,

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What is meant by undercast and overcast in accountancy? Explain with some transactions and their corresponding journal entries.

4 Answers   ICICI,

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