What is the matching principle of accounting?

Q: Describe the reasons why financial accounting is useful?

A: Financial accounting is a specific branch of accounting involving a process of recording,…

Q: What are the benefits of generally accepted accounting principles (GAAPs)?

A: GAAP stands for Generally Accepted Accounting Principles.

Q: What means accounting information?

A: Accounting information -   the information which is generated from the accounting process is known…

Q: What are the basic foundation of Accounting?

A: Accounting: Accounting is the practice of documenting financial transactions that occur in the…

Q: What is the definition of accounting?

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

Q: What is accrual accounting and how does it work?

A: Accrual accounting is a system of accounting wherein: Revenues are recognized as and when they are…

Q: Financial accounting serves what purpose

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

Q: What is ABC system in accounting? Explain with example?

A:

Q: What are the principles of accounting according to GAAP?

A: GAAP: Generally Accepted Accounting Principle (GAAP) is a common set of accounting principles,…

Q: What is the relationship between accounting theory reporting and?

A: This question illustrates the connection between accounting theory and reporting.

Q: What is the best accounting method?

A: Accounting Method: The accounting method is the method used for maintaining the books of accounts of…

Q: what is accounting?explain it.

A: A business needs quantitative record of its over financial performance and financial position in…

Q: What are the golden rules of accounting?

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

Q: Which of the following branches of accounting is the original form of accounting?

A: The branches of accounting are: 1. Financial Accounting 2. Cost Accounting 3. Management Accounting…

Q: why are balance sheets important in accounting?

A: Balance sheet is one of the financial statement in business, which is prepared at the end of…

Q: What is the origin of the term "double accounting systems" for certain types of accounting?

A: This subject discusses the origins of the phrase "double accounting systems" for specific forms of…

Q: What are the different types of accounting?

A: The accounting is a process to record the business transactions and prepare the financial…

Q: What are the popular accounting applications?

A:

Q: How are changes in accounting principle applied?

A: Accounting Principles:   It refers to a set of guidelines that all organisations must follow while…

Q: How is financial accounting different frommanagement accounting?

A: The financial accounting and the management accounting are used for taking decisions for the…

Q: what is the function of accounting cycle?

A: Bookkeeping means recording the transactions which have any monetary value. It is the business…

Q: What was the most fundamental aspect of accounting?

A: The activity of maintaining track of a supplementary ledger is known as accounting. Accounting…

Q: What are the different branches of accounting?

A: Accounting:Accounting is the process of recording, summarizing and examining the  business events…

Q: What are the principle of accounting

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

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: To what end does financial accounting serve?

A: The end of financial accounting is to provide business with the financial performance and financial…

Q: What Is The Primary Objective Of Financial Accounting?

A: Financial accounting: Financial accounting is the process of measuring the business activities of an…

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: 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: Can you explain the basic accounting equation?

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

Q: How do you maintain accounting accuracy?

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

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: what is the accounting equation?

A: Accounting: It is defined as a process of gathering, recording, summarizing, analyzing, and…

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 are the strategies of Accounting Theory?

A: It involves the assumptions that guides the reporting and recording.

Q: hat are the benefits of Accounting System Analysis?

A: Accounting system analysis is very important for business and organization to grow and survive.

Q: How important is the accounting?

A: Businesses require a system that can help in measurement and evaluation of different financial…

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: So, what exactly is the purpose of an accounting system?

A: solution accounting system                 Accounting system in general refers to the system which…

Q: What is the difference of basic accounting equation from the expanded accounting equation?

A: Accounting: It is the process of recording, classifying, summarizing all transactions of a business…