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The Accountant's Dictionary Volume 2; A Comprehensive Encyclopaedia and Direction on All Matters Connected with the Work of an Accountant, Illustrated

The Accountant's Dictionary Volume 2; A Comprehensive Encyclopaedia and Direction on All Matters Connected with the Work of an Accountant, Illustrated


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About the Book

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1922 Excerpt: ... on the credit side those returned will be posted from the Returns Inwards Book. There will thus be distinct records in each Ledger Account of the packages and of sales. The balances on the " packages " columns will form a record of outstanding packages. As packages are frequently charged out at prices which include a profit, and which in the event of their being returned will not be realised, it will be the duty of the auditor to see that a proper reserve is made to cover the excess over cost of packages remaining in the hands of customers at stocktaking. This system of recording packages is sometimes varied or supplemented by a statistical record in ledger form, in which customers are debited with the quantities (and values) of packages sent out, and credited with returns (e.g. Cask Ledgers and Bottle Ledgers in brewery concerns). PACKING MATERIAL. When the cost of packing material is included in the sales as an extra charge, the cost of the material used should be charged against the Trading Account. If the packing is supplied free and is not returnable, it may be regarded as an expense of distribution, and, as such, forms a charge against Profit and Loss Account. In cases in which the raw timber is purchased and converted into cases by the employees of the firm, the value of the timber used and the wages of employees engaged in making the cases should be charged to the Packing Material Account. In some businesses it is the practice to capitalise the original cost of packing cases, renewals and repairs being charged to revenue. This is a doubtful proceeding, because, unless a very strict record is kept of the cases, there is a great danger of lost and damaged cases not being replaced, and consequently there is an over-valuation of the asset in ...


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Product Details
  • ISBN-13: 9781236203236
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 318
  • Spine Width: 17 mm
  • Width: 189 mm
  • ISBN-10: 1236203232
  • Publisher Date: 01 May 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 572 gr


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The Accountant's Dictionary Volume 2; A Comprehensive Encyclopaedia and Direction on All Matters Connected with the Work of an Accountant, Illustrated
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