Call backLog in
Search
Why choose us?
- Papers delivered punctually
- Written work that is entirely original and will pass any plagiarism test
- The highest quality papers with a 100% guarantee of satisfaction
- Ordering methods that are secure
- Customer support 24x7
- Affordably cheap prices
Managerial accounting is a process involved with giving information to managers to aid them in decision making and other related operations in the organization. On the other hand, financial accounting entails giving information through financial statements to people outside a company or an institution, such as creditors, banks, government agencies and stockholders among others.
Basic managerial and financial accounting principles are the general set of laws and ideas that form the foundation on which more comprehensive accounting rules are built. They are part of the generally accepted accounting principles (GAAP). GAAP comprises of three set of rules which include, the fundamental accounting principles as well as the comprehensive accounting standards provided by the financial accounting standards board (FASB). GAAP also includes the commonly established industry principles. However, the paper will focus on the basic principles of managerial and financial accounting.
Cost principle is one of these basic rules which call for organizations to account and give report on acquirement cost instead of the reasonable marketplace value for most of the assets and liabilities. Another basic accounting principle is the revenue principle. It calls for organizations to record when revenue is realizable or has been realized. Furthermore, revenue principle calls for record when the revenue is received rather than when the cash is accepted. It is a system in accounting called accrual basis accounting.
Buy Free Custom «Basic Principles of Managerial and Financial Accounting» Essay Paper paper online
There is yet another basic rule in accounting called the matching principle. This principle requires that the costs and the revenues be harmonized provided it is reasonable to do so. It is worth noting that this principle requires that costs are recognized not when the work or a product is completed but when a contribution is made to the returns. It provides an opportunity for greater evaluation of productivity and performance since it spells out how much was spent in order to earn a certain amount of revenue. This principle applies best in depreciation and ‘cost of goods sold’ scenarios.
FREE Extras:
- FREE revision (within 2 days)
- FREE title page
- FREE bibliography
- FREE outline (on request)
- FREE e-mail delivery
- FREE formatting
We Guarantee:
- Quality research and writing
- 24/7/365 Live support
- MA, BA, and PhD degree writers
- 100% Confidentiality
- No hidden charges
- Never resold works
- Complete authenticity
Paper Format:
- 12 pt. Times New Roman
- Double-spaced/Single-spaced papers
- 1 inch margins
- Any citation style
- Up-to-date sources only
- Fully referenced papers
Related Accounting essays
0
Preparing Orders
0
Active Writers
0%
Positive Feedback
0
Support Agents
Term paper, 5 pages
A concise and well put together paper. Language and syntax used were at times, too much personally, but were appropriate for the discipline being written in. Thank you so much for the timeliness and diligence in the project!
Jonathan C., USA
11:34 AM, May 18, 2025
Questions-Answers, 16 pages
Followed the rubric exactly and met all my requirments, even exceeded the source limit. Thank you!
Loo Y., Singapore
10:46 AM, May 18, 2025
Thesis/dissertation chapter, 5 pages
Thanks for your patient and understanding. good job
Haz M., Brunei Darussalam
9:58 AM, May 18, 2025
Blog Article, 6 pages
did what was required, and did excellent work.
Godwin U., Nigeria
7:03 AM, May 18, 2025
Coursework, 11 pages
Great work. Will definitely be working with this writer again.
Courtney H., USA
6:42 AM, May 18, 2025
White paper, 14 pages
She is very confident and forward thinking. She is good enough to go to multiple times. If there was a percentage grade it would be 85%. Its just my opinion. Thank you very much for the feedback opportunities.
Redwan A., USA
11:24 PM, May 18, 2025
Term paper, 15 pages
The paper turned out great. A few revisions but a great final paper
Fatima L., USA
6:29 PM, May 18, 2025
Excel Exercises, 1 page
Did it again ⭐️
Bonee H., USA
2:48 PM, May 18, 2025
Speech, 13 pages
It is a great basis to start with. I am an english speaker and will have to correct some of the english but it is a really good start and will serve me will. Thanks for the assist.
Sam V., USA
1:53 PM, May 18, 2025
Personal Statement, 13 pages
He is a good writer but lacks on great customer service!!!
Yuxi L., Singapore
1:38 PM, May 18, 2025
Term paper, 5 pages
A concise and well put together paper. Language and syntax used were at times, too much personally, but were appropriate for the discipline being written in. Thank you so much for the timeliness and diligence in the project!
Jonathan C., USA
11:34 AM, May 18, 2025
Questions-Answers, 16 pages
Followed the rubric exactly and met all my requirments, even exceeded the source limit. Thank you!
Loo Y., Singapore
10:46 AM, May 18, 2025
Thesis/dissertation chapter, 5 pages
Thanks for your patient and understanding. good job
Haz M., Brunei Darussalam
9:58 AM, May 18, 2025
Blog Article, 6 pages
did what was required, and did excellent work.
Godwin U., Nigeria
7:03 AM, May 18, 2025
Coursework, 11 pages
Great work. Will definitely be working with this writer again.
Courtney H., USA
6:42 AM, May 18, 2025
White paper, 14 pages
She is very confident and forward thinking. She is good enough to go to multiple times. If there was a percentage grade it would be 85%. Its just my opinion. Thank you very much for the feedback opportunities.
Redwan A., USA
11:24 PM, May 18, 2025
Term paper, 15 pages
The paper turned out great. A few revisions but a great final paper
Fatima L., USA
6:29 PM, May 18, 2025
Excel Exercises, 1 page
Did it again ⭐️
Bonee H., USA
2:48 PM, May 18, 2025
Speech, 13 pages
It is a great basis to start with. I am an english speaker and will have to correct some of the english but it is a really good start and will serve me will. Thanks for the assist.
Sam V., USA
1:53 PM, May 18, 2025
Personal Statement, 13 pages
He is a good writer but lacks on great customer service!!!
Yuxi L., Singapore
1:38 PM, May 18, 2025