Mr. Ameer wants to open a consultancy service company. He struggles with the process of bookkeeping and accounting because his specialisation is IT and engineering. He wants to fully understand the accounting principles and learn the basics of bookkeeping for internal purposes. He hired your services as an accountant. You need to prepare a 1200 - word report addressed to Mr. Ameer as structured below. I. Introduction (200 words) a. Define accounting standards and explain the basic objectives of accounting standards. b. Define matching concept. Discuss why should a business concern follow this concept.
Mr. Ameer wants to open a consultancy service company. He struggles with the process of bookkeeping and accounting because his specialisation is IT and engineering. He wants to fully understand the accounting principles and learn the basics of bookkeeping for internal purposes. He hired your services as an accountant. You need to prepare a 1200 - word report addressed to Mr. Ameer as structured below. I. Introduction (200 words) a. Define accounting standards and explain the basic objectives of accounting standards. b. Define matching concept. Discuss why should a business concern follow this concept.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter1: The Demand For And Supply Of Financial Accounting Information
Section: Chapter Questions
Problem 12C
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