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What Is Accounting?

Accounting Paper Assignment Help is the process in which, the information relating to different resources required by an organization and deal with information about finances needed to acquire the resources. The systematic collection of data, recording and classifications of transaction and it is concerned with interpretation and communication of financial statements and profit and loss statement and also undertakes to prepare the statement of affairs of business.

Features Of Accounting Assignment

  • Recording is a major feature of Accounting Paper Assignment Help. It is an art of recording business transactions, which is recorded on the basis of money of cash and cheques.
  • Classifying is another feature of accounting. It is important that the different transactions are classified under different heads based on the nature of accounting.
  • Summarizing is another important feature of accounting. Summarizing is the act of presenting a summary of all the transactions. The feature of summarizing accounting is visible from the preparation of profit statements and also the preparation of balance sheet.
  • Interpretation is another important feature of accounting. The process of recording, classifying and summarizing has ultimately lead to interpretation of the accounting statement. The profitability level of the organization is high or low.

Accounting Principles Assignment

Accounting Principles are the ethics that a company needs to conforming it and it can be seen that accounting principles are the set of rules and provide the framework within which, a company needs to function. The question is raise that how to solve my accounting paper online? It describes as the set of rules that are form the accounting.

Who Will Solve My Accounting Paper Online?

Some Accounting Principles

  • Going concept principle
  • Accrual principle
  • Cost principle
  • Conservatism principle
  • Consistency principle
  • Economic entity principle
  • Full disclosure principle
  • Matching principle
  • Materiality principle
  • Reliability principle

Key Concept And Elements Of Accounting

The act of recording, classify, summarizing and interpretation transactions is known as accounting.

Balance Sheet

Balance sheet is the state of awareness of business and it is comprises of the assets of the business which is categorized in current and noncurrent assets. It is concerned with highlighting depicting the current state of affairs of a business.

Profit and Loss Statement

The organization is summarization and evaluations of the operations of profit and loss reflect on the level of success and it also reflects on the facts that has generated the profit or incurred the loss during the current accounting year.

Cash flow statement

It reflects on the outflow and inflow of cash during the accounting year. The flow of cash is in the form of payment and receipt which in turn interprets and communicates the business. Positive cash flow reflects the inflow of cash being greater than outflow cash and a negative cash flow suggests vice versa effect.

Trading Account

Trading account reflects on the expenditure and income created during the production process and includes all direct income and expensive.

Comparative balance sheet

Comparative balance sheet reflects on the comparison of balance sheet of the organization and it is considered as the base year and the succeeding year balance sheet value and data are compared to undertake a comparative analysis of the state of affairs of the organization.

Revenue Expenditure

Revenue expenditure refers the daily and the recurring expenditure incurred the business activity of the organization.

Capital Expenditure

The capital expenditure usually denotes that the purchase of capital asset, which increases the profit earning capacity of the organization.

Accounts Payable

Accountable payable is when the organizations are involved in dealings and transactions, where an organization is obligated to pay to outsiders and creditors.

Accounts Receivable

The accountable company develops account when the outside parties and stakeholders owe money to the organizations.

Accounting Methods

Accrual Basis

It is the recognition of an item and estimates of the transaction are made. Therefore outstanding expense and accrued income are estimated when these transactions are recognized.

Cash Basis

The cash basis and transaction are recognized when they are actually generated and involve the actual incurring of expenditure and generation of income.

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Accounting assignment help