Financial Accounting Insurance Claims Tutorialspoint Com

Financial Accounting - Insurance Claims -

Average clause is applied by the insurance companies to discourage the under insurance of stock or any other assets. Following illustration help you to understand it in a better way - Suppose, value of insurance policy is Rs. 1,500,000 and at the date of fire, value of stock in hand is Rs1,800,000, out of which approx. worth of 1,200,000 ....

Financial Accounting - Final Accounts -

Accounting Treatment. Debit side of Profit & Loss Account. Liabilities side of Balance Sheet as commission payable. 16: Goods on Sale or Approval Basis. If there is any un-approved stock lying with the customers at the end of financial year. Accounting Treatment. Sales Account Dr. To Debtors A/c (With Sale Price) Stock Account Dr. To Trading ....

Financial Accounting - Contract Account -

Under the second approach, it is ascertained at the end of each and every accounting period on percentage basis, which comes before completion of the entire contract. Work-in-Progress. Work-in-progress means total expenditure incurred up to the end of financial or accounting year known as work-in-progress account..

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Government Accounting -

Important Terms and Expressions of Government Finance. Following are the important terms and expressions used in Government accounting -. Demand for Grant - Without sanction from the Parliament, no expenditure can be incurred by any Government Authority. Public Authority can request for the grant of expenditure to the Government, this request is called "Demand for Grant"..

MIS - Quick Guide -

Easy accounting of stock and cost of stock. Channel Management -. Reduce total number of transactions required to provide product assortment. Organization is logically capable of performing customization requirements. Financial management -. Low cost; Realistic analysis; Operational performance -. It involves delivery speed and consistency..

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