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Advantages of Accounting Provides the money place - It helps the businessmen to prepare a stability sheet at the end of annually, which help them to acknowledge the economical placement of an organization. It highlights the value of assets and liabilities in the enterprise.
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The accrual theory is the concept accounting transactions must be recorded within the period wherein they occur not basically while in the interval during which there are actually linked cash flows.
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Price Accounting - This accounting bargains with the cost of products and services. The leading reason of the accounting Bonuses is to find the price of products and services in various departments.
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