Accounting Interpretation What Is an Accounting Interpretation? An accounting interpretation is a statement, issued by accounting standards bodies, clarifying how existing accounting standards should be applied. Interpretations are generally not requirements, but rather outline best practices and provide further explanation. KEY TAKEAWAYS An accounting interpretation is a statement issued by an accounting board clarifying how …. Read More
Interpretation of Account Interpretation Of Accounts Account interpretation is a process of analyzing accounts in detail to determine the business activity that has been recorded in it for a particular accounting period. Information obtained from account interpretation is important for management to plan and …. Read More
Lesson 3, Interpretation of Account: Purpose & Computation of Ratios. 2021/ 2022 Session. Overview of Ratio Analysis Classification Ratio analysis consists of calculating financial performance using five basic types of ratios: profitability, liquidity, activity, debt, and market. LEARNING OBJECTIVES Classify a financial ratio based on what it measures in a …. Read More
Net Profit or Income Margin What is Net Profit Margin? Net Profit Margin (also known as “Profit Margin” or “Net Profit Margin Ratio”) is a financial ratio used to calculate the percentage of profit a company produces from its total revenue. It measures the amount …. Read More
and computation of ratios: – net profit margin; – stock turnover; – quick ratio; – acid test ratio; – gross profit margin; – return While we study the accounts and financial statements of an entity, we can gauge its current financial position. But can you tell the efficiency of the firm by just looking at the accounting …. Read More
Concepts and Conventions Accounting is both a science and an art. And just like all other streams of science, even in accounting certain rules are followed. Also, accounting is based on certain assumptions as well. We call these accounting concepts or accounting concepts and principles. Let us study accounting …. Read More
CA/Test, Bookkeeping Time: 2hours:30mins Section A 1. Explain briefly, what you understand by “Accounting Interpretation.” 2. Differentiate between accounting interpretation and accounting standards Section B 1. What is a net profit margin? 2.Company XYZ and ABC both operate in the same industry. Which company has a higher net profit margin? .
The art of accounting and its related study is a very interesting and vital component of maintaining accounts. The books of double entry hold a very vital and important role in the preparation of accounts. It is because of these books that an accountant is able to compile financial data about a firm. To understand accounting treatments, let us read further.
General Ledger The general journal is part of the accounting bookkeeping system. When an event occurs we need to record it. We call this event a transaction and record it in a special journal or in the general journal. There are four journals specifically, which record transactions of a similar nature. Their …. Read More
Area of Concentration -Interpretation of account -Books of original entry -Accounting concepts/convention
SS3 Bookkeeping Examination. Time: 2 hours. Answer All Questions in section A, Attempt 2 questions in section b. Section a What is an Accounting interpretation? 1b. List 3 types of accounting ratio Define The term “Book of Original Entry” 2b. List 4 books original entry 3. Differentiate between accounting interpretation and accounting …. Read More
A Compound General Entry A compound journal entry is an entry in which there is more than one debit, more than one credit, or more than one of both debits and credits. It is a combination of several simple journal entries. We record some transactions which are inter-connected and take place simultaneously by means of …. Read More
Cash Journal: Posting from Journal and Cash Book. During the preparation of accounts, an accountant is required to post various entries from various journals and cash books to the ledger accounts. Let us take a look at the process of posting such journal entries from the books of accounts in various ledgers. …. Read More
Cash Book: Single, Double and Three Column Cash Book. A cash book is like a subsidiary book. It is a special book that will record only one type of transactions, that is, cash transactions. In an organization thousands of cash transactions occur in a year, and journalizing them all is tedious …. Read More
YHWH YESHUA HAMASCHIAC School, Second/Resurrection( Easter) Term, Bookkeeping. CA Test 1. 2021/2022. SS3 Bookkeeping CA Test 1. Time: 1 hour. Answer all your questions carefully In THE GREAT NAME Of THE YHWH HAMASCHIAC. what is a compound journal entry? 1b. Journalise the following transactions below: 2016 March 2 Commenced business …. Read More
SS3 Bookkeeping CA Test 1. Time: 1 hour. Answer all your questions carefully In THE GREAT NAME Of THE YHWH HAMASCHIAC. what is a compound journal entry? 1b. Journalise the following transactions below: 2016 March 2 Commenced business with cash 2,50,0000 March 4 Purchased furniture for cash 20,0000 March 4 Cash purchases …. Read More
Solved Examples on Different Types of Cashbook. #revision Audio Lesson In our last lesson, we learnt the theoretical aspects of diverse cash books, from petty to three column cashbook. Today, i will be carrying you through the practical accounting exercise. watch this too on video embed below. The …. Read More
Revision on Cashbook: Solved Examples on Different Types of Cashbook; Double Column Cashbook. In our Lesson 4 revision, we treated Single column cash book. Today, in our lesson 5, we will be treating Double Column Cash Book. Audio Tutorial The double column cash book (also known as two column cash book) has …. Read More
Revision on Cashbook: Solved Examples on Different Types of Cash book; triple/three Column Cashbook. The triple column cash book (also referred to as three column cash book) is the most exhaustive form of cash book which has three money columns on both receipt (Dr) and payment (Cr) sides to record transactions involving cash, bank and …. Read More
The Petty Cashbook. Besides maintaining a main or general cash book, many companies also maintain a small cash book known as petty cash book to record small day to day expenditures of the business. Petty cash book is a type of cash book that is used to record minor regular expenditures such as office …. Read More
The ledger and The Principles of Double Entry. Ledger Account Meaning Ledger Account is a journal in which a company maintains the data of all the transactions and financial statement. Company’s general ledger account is organized under the general ledger with the balance sheet classified in multiple accounts like assets, Accounts …. Read More
Mock Senior WAEC Examination, Bookkeeping. Senior WAEC Book-keeping Accnts 2and1_November_2011 Students are advised to kindly open the above attached questions on bookkeeping, and answer the questions accordingly. Goodluck in Our YHWH YESHUA HAMASCHIAC.