Account assign 1

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Account assign 1

  1. 1. Financial Accounting Assignment SUBMITTED TO Prof. M.A. Ganachari
  2. 2.  Materiality: To help the users with their decisions Includes informations which affects the decisions of the users. Information is material either due to the amount or importance ofevent.Eg. i) Remuneration paid to the excutives & directors is material.
  3. 3.  Modified Accounts It is the shortened versions of full accounts. Small/Medium sized companies can file these with the ROC.
  4. 4.  Money Measurement: States that a business should record the transaction if it can beexpressed in terms of money. focus on quantitative information rather than qualitative. Following items cannot be records in accounting transactions: • Employee’s skill level • Product durability • Employee’s working conditions
  5. 5. Minority Interest Portion of equity ownership in a subsidiary not attributable to theparent company. Company has a controlling interest greater than 50% but lessthan 100%.
  6. 6. Book Value: The value of an asset according to its balance sheet accountbalance. Original Cost Less DepreciationExample: Book Value = Cost of the Asset - Depreciation Rs. 90,000 = Rs. 100,000 – Rs. 10,000
  7. 7. Thank You !!

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