Accounting

A:

Finance helps businesses achieve their goals by providing the funding they need to achieve them. Without funding, businesses cannot be successful.

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  • How do you define accounting ethics?

    Q: How do you define accounting ethics?

    A: Accounting ethics refers to the standards of right and wrong conduct that apply to the accounting profession. Various accounting organizations maintain professional codes of conduct to assist accountants with upholding ethical behavior.
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  • What is a trade discount?

    Q: What is a trade discount?

    A: According to the Accounting Tools website, trade discounts are provided to retailers by wholesalers for goods. The retailer can then charge the full manufacturer suggested retail price for the goods, using the discounted amount as profit.
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  • What is the definition of "revenue allocation"?

    Q: What is the definition of "revenue allocation"?

    A: Revenue allocation is the distribution or division of total income, or revenue, in a business, corporate or government structure. It involves a complex process that entails how and where to allocate revenues in order to ensure the viability of departments and maintain the operating structure of the organization.
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  • Is accounting an art or a science?

    Q: Is accounting an art or a science?

    A: Accounting can be classified as both an art and a science. An accounting degree can be awarded as a Bachelor of Arts or a Bachelor of Science degree. Opinions on the classification may vary, but the very nature of accounting classifies it as both.
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  • What does "accretion" mean in accounting?

    Q: What does "accretion" mean in accounting?

    A: In accounting, the word "accretion" refers to growth in value over time. Accretion typically refers to the increase of value of a bond over time.
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  • What is the meaning of gross pay?

    Q: What is the meaning of gross pay?

    A: An employee’s gross pay is the money earned from working before taxes and other deductions. An employee’s gross pay includes the money they earn from commissions, overtime and tips.
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  • What is income from continuing operations?

    Q: What is income from continuing operations?

    A: Income from continuing operations is ongoing earnings from normal business activity. It is what a company can expect from future earnings, such as if a company plans to continue to produce shoelaces and buttons but no longer zippers, earnings from the zippers is not calculated as income from continuing operations.
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  • What goes into a payment agreement letter?

    Q: What goes into a payment agreement letter?

    A: According to Reference.com, a legal payment agreement letter must contain the date of the transaction as well as the details of the repayment agreement and any penalties incurred if the borrower defaults on the agreement. Both the payee and borrower must sign the letter, thereby creating a legally binding document.
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  • What is the prime cost formula?

    Q: What is the prime cost formula?

    A: The formula for prime cost is the sum of the direct cost of materials, the direct cost of labor and the direct cost of expenses, according to BusinessDictionary.com. The prime cost is the cost of a particular product that the manufacturer incurs apart from any business overhead expenses.
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  • What is the ordinary annuity formula?

    Q: What is the ordinary annuity formula?

    A: The ordinary annuity formula appears as "P = r (PV) / 1 - (1+R) - n." The formula is used to calculate the periodic payment against an annuity when the rate and payments remain the same, with the first payment exactly one period away.
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  • What is the definition of "costing"?

    Q: What is the definition of "costing"?

    A: In accounting terms, costing refers to a system of calculating the amount of money it takes to produce goods or operate a business. Generally, costs include variables like cost of labor, cost of materials, cost of distribution and selling, taxes and administrative costs.
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  • What are public funds?

    Q: What are public funds?

    A: According to the Community Tool Box, public funds are funds that come from the public treasury. It is revenue generated from tax payments, and it is used to fund things that benefit the public, including health, human service, environmental development, community development and other public service programs.
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  • What is the abbreviation of the word "accounting?"

    Q: What is the abbreviation of the word "accounting?"

    A: According to Purdue University, the abbreviation for the word "accounting" is "ACCT." Sometimes all capital letters are used, but punctuation is always included. The accounting field uses several abbreviations for terms common to the profession.
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  • What are some advantages and disadvantages of trade credit?

    Q: What are some advantages and disadvantages of trade credit?

    A: The greatest advantages of trade credit to businesses include the availability of zero percent financing and potential discounts on needed goods, while the biggest disadvantage is the risk of late payment fees. Trade credit is an arrangement between a supplier and a business to receive goods or services while delaying cash payment until a later date.
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  • How do you write a monthly report?

    Q: How do you write a monthly report?

    A: Monthly reports are used by project managers and program directors to inform supervisors of the progress of projects. The reports are based on one calendar month and are usually turned in within a week after the month ends. A report typically consists of one or two pages of easily digestible information.
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  • What is a goods received note?

    Q: What is a goods received note?

    A: A goods received note is a receipt given to the supplier to confirm delivery or acceptance of goods by the customer. After the supplier receives this note, a payment invoice is sent to the customer.
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  • What does retro pay mean?

    Q: What does retro pay mean?

    A: Retro pay are wages due to an employee for work already performed or services already rendered, usually in association with a pay raise that requires some sort of payroll action before taking effect.
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  • What is the main objective for any business?

    Q: What is the main objective for any business?

    A: Under traditional business theory, the main objective of any business is to make a profit for its owners. Only those business activities that result in the highest profit margin meet this basic objective.
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  • What is a 13-month salary?

    Q: What is a 13-month salary?

    A: A 13-month salary refers to a payment made to employees above their normal salary, usually equivalent to a month's salary. This type of payment is made as mandated by local law or as part of an employment contract.
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  • What is the difference between capital and revenue expenditure?

    Q: What is the difference between capital and revenue expenditure?

    A: A capital expenditure includes all costs incurred on the acquisition of a fixed asset along with subsequent expenditures that increase the asset's earning capacity, while revenue expenditure only includes costs that are aimed at maintaining fixed assets and not enhancing earning capacity. The distinction between capital expenditure and revenue expenditure is important because only capital expenditures are included in the cost of a fixed asset.
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  • What is a sales analysis report?

    Q: What is a sales analysis report?

    A: According to the Houston Chronicle, a sales analysis report is a report that shows the trends that occur in a company's sales volume over time. It shows whether or not a company's sales are increasing or decreasing.
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