Accounting Concepts and Reading Accounts

Abstract: This 3 page paper is written in 2 parts. The first part defines several terms; GAAP, historic cost, the difference between accrual basis and cash basis accounting and what are meant by current and non current assets and liabilities. The second part of the paper looks at three sets of accounts and considers the way that they are presented. The bibliography cites 4 sources.

Filename: TEacct001.rtf

Pages: 3

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Catagory: Money & Banking / Corporate Finance

Subcatagory: Accounting & Personal Finance

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