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What Is Accounting? Definition, Objectives, Advantages, Limitation, Process

It provides detailed publications to help businesses understand tax regulations and reviews all submitted tax returns for compliance. Assets are resources that generate revenue, including cash, inventory, and accounts receivable. Liabilities are claims on assets, such as accounts payable and long-term debt. The difference between assets and liabilities is equity, and equity is the actual […]

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Accounting Overview, Principles, Examples, Importance, & Facts

The accounting information helps the management to plan its future activities by preparing budgets in respect of sales, production, expenses, cash, etc. Accounting helps in the coordination of various activities in different departments by providing financial details of each department. Employees are interested in financial statements on accounts because their wage increase and payment of […]

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