Briefly define accounting. What are the three main characteristics of accounting? Is accounting static or dynamic? Accounting collects‚ analyzes‚ measures and records financial information about an organization and reports that information to stakeholders and decision makers. Accounting has 3 essential characteristics. Accounting is the (1) identification‚ measurement‚ and communication of financial information about economic entities to interested persons. Like social sciences‚ accounting is
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STATEMENT OF PURPOSE The field of business has always intrigued me‚ ever since my teenage. I was fascinated by the way businesses are run and hence my interest in business management. This deep rooted ambition of being an entrepreneur has pushed me to pursue msc management in your famed institution. I aspire to become a successful manager‚ one who can effectively contribute in the working of his organization. My initial goal immediately after my graduation is to obtain a rigorous‚ demanding yet
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Work/Experience you have in addition to your degree - Somethings about yourself not related to Accounting‚ a hobby‚ a personal achievement - Your future aspirations Obviously that is difficult in only 500 words. The first and second can be phrased in one sentence (positive language‚ non passive language). Work/Experience & Things not related a couple of sentences. Your future a short finish to end the statement. That is a general idea. You need to fit it a little to the question. But this is the
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Executive Summary GAAP‚ generally accepted accounting principles‚ are the rules for preparing the financial statements. There are specialized professionals FASB‚ SEC‚ AAA‚ FEI‚ IMA‚ AIMR and others for developing GAAP. There are 13 principles for preparing Financial Statement. Business Entity Principle requires business to be separated from owner of the business. Going Concern principles requires the business to assume that the business will for long time. Revenue Recognition Principle considers
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has the world second largest Market (after China). In India every month sold nearly 3-lakh motor cycle. The two- wheeler industry is among the few that have Managed to face the industrial slow down. The industry’s impressive growth of over 10% for four year till 2006-07. But in 2007-08 there was a drop in agricultural output. But a boost comes in the 6th Pay commission recommendation. After year of cursing along at fairly relaxed pace‚ two wheeler industry has finally stepped on the accelerator &
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Accounting software is a computerized version of old-fashioned accounting ledgers and journals. Rather than using paper ledgers to record information‚ accounting software allows us accountants to maintain electronic much needed records of financial transactions. The world of financial management has been completely transformed by the addition of computer accounting software. The greatest advantage of computer accounting software is that these applications create a much higher degree of accuracy and
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Abstract Financial statements are used by so many different types of people from investors‚ to creditors‚ managers and even employees. These statements are proven useful tools that provide valuable information about a business enabling the user of the statements to make the most appropriate business decisions. Financial Statements Four Basic Financial Statements There are four basic financial statements in accounting: 1. Balance Sheet 2. Income Statement 3. Retained Earnings Statement 4
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Statement of purpose of joining program of EPBM of IIM Calcutta Before I mention purpose of joining the course of EPBM I would like to mention about myself. I have passed my B.Com and thereafter M.com from Mumbai University and I have also completed diploma in financial management from Welingkar Institute of Management mumbai. I am currently working with Deutsche Bank as Officer- Business analyst. I am Part of onshore PBC Business analytics team (Finance) for India which is involved in Management
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Bachelor of Commerce (Accounting) Commerce ‚ as a field‚ had always fascinated me right from my school days. I believe my penchant for this field stems from the fact that Finance runs in world and every sector requires proper finance system. My Uncle is a chartered accountant. During my school days‚ I used to go to my Uncles’s office and help him manage his portfolio of equities and other financial instruments. This was the time I learnt the first lesson of finance from my Uncle i.e. risk and
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What are the four most important financial statements? Briefly describe each Much success in today’s business world is tied in with numbers in the form of accounting and financial statements. Being able to understand and properly read these statements is a critical component in truly knowing a business and properly assessing its overall financial performance. Financial reporting is the issuance of written documents in the form of the financial statements by the companies to the shareholders
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