Accounting and Finance Questions

A company may also have various company codes across the different locations. There will be exchange of services between these company codes. These goods and services which are shared or exchanged between these company codes are bring to terms during the month end process. The exchange difference has to be settled by a company code in the way of money transfer.

This process is known as Intercompany Settlement. 

The job cost sheets constitute the subsidiary ledger for the Work in Process Inventory Account.

A job cost sheet is a form used to record the costs chargeable to a specific job and to determine the total and unit costs of the completed job. Companies keep a separate job cost sheet for each job.

Repo Rate is the rate at which the commercial banks borrows money from the central bank of a country i.e, RBI in India.

Reverse Repo Rate is the rate at which the central bank of a country, in case of India it is RBI borrows money from the commercial banks in the country.

 Accounts receivables help small businesses by providing quick-time period liquidity. Additionally continued sales on credit provide the  much-needed continuity for small companies.

In economy, the currency value depends on imports and exports, inflation, employment, interest rates, growth rate, trade deficit, performance of equity markets, foreign exchange reserves, macroeconomic policies, foreign investment inflows, banking capital, commodity prices.

Generally Accepted Accounting Principles (GAAP) are basic accounting principles and guidelines are concepts that govern the field of accounting.

Accounting principles and guidelines include :

* Business Entity Assumption

* Accounting Period

* Historical Cost Concept

* Full Disclosure Principle

* Cost Principle

* Matching Principle

* Materiality

* Monetary Unit Assumption.

Accounts Receivables help small businesses by providing short-term liquidity. Also continued sales on credit provide the much needed continuity for small businesses.

Payroll reports gives information about the total 'cost to Company' for the Employee Salary, Benefits (Cash and Non-Cash), Taxes, Total Hours worked. 

All these information is helpful for the Management decisions.