Interested to Buy Any Domain ? << Click Here >> for more details...
WHAT ARE LIMITATIONS OF ACCOUNTS ?
- 4 Answers
- 10011 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / maddi vinod
Accounting is based on historical cost / values.
The real values such as Brands (Self-developed), human
assets, Reputation, hold on the market , credit of
Organisations etc can not be accounted.
Financials only shows the cost at which assets are bought/
constructed/ acquired net off depreciation even thought
there are possibilities of appreciation of assets due to
inflationery effects.
Theses are the few limitations.
| Is This Answer Correct ? | 14 Yes | 3 No |
Answer / aurosnigdha bose
There r certain limitations of accounts-
1.It is based on historical cost.
2.It isn't free from personal bias.
3.it can't say the current financial position of a company.
| Is This Answer Correct ? | 13 Yes | 2 No |
Answer / dharmesh sati
It is baded on historical (like investment, fixed assert)
We can not know current finance position of a company
only economical mean (which can measure via money) tras.
should be recored.
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / binny dhillon
1,records the monetary transactions only
2.only material items are dislosed in financial statemnts
3.fails to give the timely information to the owners and management as the summarised fiancial information is presented only at the end of the year.
4.accounting logs can be manipulated by the owners and management
| Is This Answer Correct ? | 5 Yes | 0 No |
what is CCA is a part of salary?
Explain kinds of accounts
Aravinds gross salary is 15000/-Pass entry adjusting 150 profession tax, Advance adjustment 1500/-
what is the meaning of LIQUIDITY? what is merger, acquisition & amalgamation? what is the differnce between them? WHAT IS THE TAXABLE VALUE OF THE FOLLOWING FRING BENEFITS FOR FRINGE BENEFIT TAX ? a) CONCESSIONAL TICKET PROVIDED BY THE EMPLOYER FOR PRIVATE JOURNEY OF An EMPLOYEE AND HIS FAMILY MEMBERS. b) GIFTS AND SCHOLARSHIP.
How to reconsile vendor accountswhat to add and subtract is there any standard form please get me answer
what is Prime Brokerage?
Why assets and expenses debited
How much is to be DEBT/EQUITY ratio to be a good company...???
what is an invoice
EXPAND___________INTUC
Expand ------RGGVY
Process of the settlement cycle?
Audit 
