Basic Principles of Accounting
View larger

Basic Principles of Accounting


  • College
  • 1168

Short excerpt:

Net Profit is calculated by subtracting the business total expenses from revenue in the period between 1st July 2007 and 30th June, 2008. It is more complicated than just subtracting cash at the beginning from cash at the end of the period. This is because in accounting, we try to get a total picture at the given period in time so profits need to include goods sold on credit and other important activities like taxation. Basing everything on cash will be misleading and even go against accounting convention.

Protected by Copyscape

By buying this product you can collect up to 46 loyalty points. Your cart will total 46 loyalty points that can be converted into a voucher of $0.46.


Add to wishlist

30 other papers in the same category:

Related Products