How do prizes and awards received work in taxation? And, what does gambling winnings work in accounting?

Q: How is financial accounting different frommanagement accounting?

A: The financial accounting and the management accounting are used for taking decisions for the…

Q: How do you determine net income applying the accrual accounting model?

A: Accrual Accounting Model:This method is a widely used basis of accounting that suggests the timing…

Q: What are alternative accounting methods? and whats a  good example. What is pro forma income? Whats…

A: Alternative accounting methods are those that differ from the traditional methods of accounting.…