How does fund accounting compare to proprietary accounting?
Accounting consists of a set of rules, principles, concepts and assumptions which are used by a business entity to account its various monetary transactions. The branches of accounting include cost accounting, financial accounting, management accounting etc.
Answer and Explanation: 1
Fund accounting refers to an accounting system which is used to record such resources whose application is restricted by the individuals, donor,...
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fromChapter 3 / Lesson 7
Learn about recording transactions. Understand what recording transactions is, examine the process of recording transactions, and identify its importance.