ACCOUNTING GOALS
Answer / arnab bhattacharya
There are many Accounting Goals. Some of them........
1. To Maintain Accounting records properly.
2. To serve the proper financial position to the users and
outside parties of the company.
3. To record the matters from the view of business, not
from the view of the owner.
4. To state the correct & Proper financial position.
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Expand ________GFD
deffered tax treatment in financial statements
Expand ------RGGVY
EXPAND___________ITAT
ABC Ltd. firm has a sales of Rs.6 crores, Variable cost Rs. 3.5 crores and Fixed cost of Rs. 0.65 crores. The firm has debt and equity resources worth of Rs.7 crores and 10 crores respectively. With the data given show : (i) The firm’s ROI. (ii) EBIT if sales decline to Rs.4 crores. (iii) If the industry’s assets turnover is 4 times, does the firm has high or low asset turnover? The cost of debt is 12%. Ignore taxation.
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