sports
What are posting periods?
Posting periods are used to maintain accounting periods that are open for posting and all closed periods are balanced. This is used for opening and closin...
Read Journal Category
Sports
sports
What is Schedule 6 of Companies Act?
Schedule VI to the Companies Act, 1956 deals with the form of Balance Sheet and Profit and Loss Account and classified disclosure to be made therein and i...
Read Journal
sports
How do you record earned but unbilled revenue?
Therefore, as per accrual method it is recognized as revenue/sales by the seller entity in the current period itself. Unbilled Revenue is converted to Acc...
Read Journal
sports
How do you calculate contribution margin ratio?
How to Calculate Contribution Margin Net Sales – Variable Costs = Contribution Margin. (Product Revenue – Product Variable Costs) / Units Sold = Contribut...
Read Journal
sports
What are the features of equity shares?
The main features of equity shares are: They are permanent in nature. Equity shareholders are the actual owners of the company and they bear the highest r...
Read Journal
sports
What happen when output increase?
As the level of output increases, the difference between the value of average total cost and average variable cost… 1. decreases because average fixed cos...
Read Journal
sports
What comes under net credit sales?
Net credit sales. In other words, credit sales are purchases made by are sales where the cash is collected at a later date. The formula for net credit sal...
Read Journal
sports
What are the off-balance sheet items?
Off-balance-sheet items are contingent assets or liabilities such as unused commitments, letters of credit, and derivatives. These items may expose instit...
Read Journal
sports
How does accounting facilitate management?
Accounting facilitates the systematic management of the records of the transaction and other financial data. It gives an idea about the chances of profita...
Read Journal
sports
What is the order of accounts in the general ledger?
The list of each account a company owns is typically shown in the order the accounts appear in its financial statements. That means that balance sheet acc...
Read Journal