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  • 1. Fundamental Accounting Concepts This section aims to provide a basic understanding of the fundamental accounting concepts required for maintaining accounting records. The information presented in this chapter is intended to provide the basic accounting information for finance practitioners who lack formal accounting training. 2.
  • Accounting is the “language of business,” a system for collecting, classifying, measuring, and communicating financial information. While this language includes familiar terms like revenues and costs, assets and liabilities, and profits and losses, accountants use them in specific ways to express key details about the financial health of a company.

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  • For 2013/14 its basis period will be 1st January 2014 - 5th April 2014, because the first basis period always ends on the fiscal year end. For 2014/15 its basis period will be 1st January 2014 - 31st December 2014, because as the first accounting year is 12 months long, the basis period ends on the same date as the accounting year.
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  • Your accounting period is a time period that you choose to run your accounts to (often a year). Your basis period is the time period that HMRC uses for tax. If your accounting year end doesn’t match HMRC’s tax year end, these periods can be different and cause overlap profits and overlap reliefs.. Accounting periods. Every business has to prepare its accounts for a year at a time, because
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  • Search meanings in Urdu to get the better understanding of the context. You can get more than one meaning for one word in Urdu. You have searched the English word Cost Accounting which means “???? ?????” Laagat Shumari in Accounting meaning in Urdu has been searched 7046 (seven thousand and forty-six) times till Jan 02, 2021.
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