Write a detailed note on accounting concepts

Although a detailed discussion of these concepts is beyond the scope of this post, similar concepts are applied to capital lease obligations and bonds payable, which are discussed below. Capital Lease Obligations A company may enter into rental or lease agreements for equipment, buildings, or other assets as an alternative to financing an actual purchase of those assets on its own.

Even though I found a couple of conflicts between sources over exact dates, for the most part these can be considered accurate. Color coded dates in the timeline indicate which reference was used for each event. DeWitt Clinton's inaugural trip through the Erie Canal.

It took 80 minutes. They obtained permission to set up a signaling system so they could send messages to each other. Their semaphore system consisted of movable arms on a pole whose positions denoted letters of the alphabet. Napoleon thought this was a great idea. Soon there were semaphore signaling systems covering the main cities of France.

Semaphore signaling spread to Italy, Germany and Russia. Thousands of men were employed manning the stations. Code books came into play so that whole sentences could be represented by a few characters. Semaphores weren't very successful in England because of the fog and smog caused by the Industrial Revolution.

Claude Chappe headed France's system for 30 years and then was "retired" when a new administration came into power. There were semaphore systems in the U. Morse, the inventor of the electric telegraph, reportedly saw the semaphore system in operation in Europe. The last operational semaphore system went out of business in It was located in Algeria.

Morse publicly demonstrates his telegraph. Samuel Morse, it is said, advised against funding of this system because of his work on developing the electric telegraph. Morse demonstrates his telegraph by sending a message to Baltimore from the chambers of the Supreme Court in Washington, DC.

The message, "What hath God wrought? They start an acquisition spree. Holmes of Boston begins to sell electric burglar alarms. Later, his workshop will be used by Alexander Graham Bell as the young Bell pursues his invention of the telephone.

Holmes will be the first person to have a home telephone.

write a detailed note on accounting concepts

There are now telegraph offices in operation nationwide. Prior to the cable, sending messages between the United States and Europe took 11 days. Elisha Gray files a patent application 3 hours after Bell. Over patent suits filed during the next 11 years. Settled in Bell's favor.

I obtained the following item years ago from Warren Bender, of A. I would like to share it with you. Hubbard, offered Bell's brand new patent No. DePew, appointed a committee to investigate the offer.Lecture notes. LEC # TOPICS PREPARATION; 1: Work on a detailed example: reverse engineering Intel's cash collections in (Note: we will focus on accounting from the lessee's perspective, not the lessor.) Game Plan and Class Pedagogy: Lecture and directed discussion.

The American Institute of Certified Public Accountant has defined Financial Accounting as: “the art of recording, The first two accounting concepts, namely, Business Entity Concept and Money Measurement Concept are the fundamental concepts of accounting.

Let us go through each one of them. The notes (or footnotes) to the balance sheet and to the other financial statements are considered to be part of the financial statements. The notes inform the readers about such things as significant accounting policies, commitments made by the company, and potential liabilities and potential losses.

Filing Financial Statements Filing requirements, checklists, tools and other details on filing company financial statements in XBRL.

Write a short note on Generally Accepted Accounting Principles? Write a short note on Generally Accepted Accounting Principles?

write a detailed note on accounting concepts

are the set of laws, rules, guidelines or concepts used in recording accounting transactions. See all related question in financial accounting. See all related question in bcom.

The notes (or footnotes) to the balance sheet and to the other financial statements are considered to be part of the financial statements. The notes inform the readers about such things as significant accounting policies, commitments made by the company, and potential liabilities and potential losses.

Accounting Concepts & Practices for a Business Plan | timberdesignmag.com