This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1917 edition. Excerpt: ... to examine different phases of our business separately and thus avoid the confusion which results when a mass of detail from many departments is studied. This summarized information enables us (1) to observe the main tendencies of our business and (2) to examine separately the causes and effects of these ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1917 edition. Excerpt: ... to examine different phases of our business separately and thus avoid the confusion which results when a mass of detail from many departments is studied. This summarized information enables us (1) to observe the main tendencies of our business and (2) to examine separately the causes and effects of these tendencies. The two main financial statements which are presented for practically every business are the balance sheet and the income statement or economic summary. The balance sheet comprises a list of assets and liabilities together with the amount of proprietorship. It is a statement of things possessed showing the distribution of interest in these between the business creditors and the business owners. It sets forth the financial condition of the business at any given moment. An income statement or economic summary is a list of all the accounts which represent sources of income and costs of this income or "expenses." The expenses are set against the income and the excess of income over expenses constitutes the net profit of the business for the period of time covered. The economic summary then is a panoramic view of the progress of the business for whatever period of time it may be prepared. This economic summary may be sub-divided, so that it shows the income and costs of individual departments of the business or individual processes of operation. Thus it is possible to obtain a clearer view of the progress of each operation or of each division undisturbed by the conditions existing in other departments or other operations. 2. Monthly and yearly statement.--These statements are customarily prepared at the end of each month showing the progress for that month. Many business houses, however, still adhere to the practice of preparing...
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Add this copy of Accounting Principles to cart. $22.29, new condition, Sold by Ingram Customer Returns Center rated 5.0 out of 5 stars, ships from NV, USA, published 2022 by Legare Street Press.
Add this copy of Accounting Principles to cart. $33.45, new condition, Sold by Ingram Customer Returns Center rated 5.0 out of 5 stars, ships from NV, USA, published 2022 by Legare Street Press.
Add this copy of Accounting Principles to cart. $55.78, new condition, Sold by Booksplease rated 4.0 out of 5 stars, ships from Southport, MERSEYSIDE, UNITED KINGDOM, published 2022 by Legare Street Press.
