Account example sentences

Babylonia, known as the city of commerce, used accounting for business to uncover losses taken place due to frauds and lack of efficiency.The Institute tries to persuade the accounting profession for adopting the accounting standards, so that uniformity can be achieved in the presentation of financial statements.The first record we have of cricket being played in India is from 1721, an account of recreational cricket played by English sailors in Cambay.Other items include small savings (Post-Office Savings Accounts, National Savings Certificates, etc), provident funds and net receipts obtained from the sale of shares in Public Sector Undertakings.Maslow has given a detailed account of psychologically healthy people in terms of their attainment of self-actualisation, a state in which people have reached their own fullest potential.We call these actual or accounting values ex post measures of these items.Cash Flow Statement is to be prepared and reported by Indian enterprises according to AS-3 issued by The Institute of Chartered Accountants of India.Redemption of debentures refers to extinguishing or discharging the liability on account of debentures in accordance with the terms of issue.Accounting Standard-3 (AS-3), issued by The Institute of Chartered Accountants of India (ICAI) in june 1981, which dealt with a statement showing 'Changes in Financial Position', (Fund Flow Statement), has been revised and now deals with the preparation and presentation of Cash flow statement.Redemption of debentures means discharge of liability on account of debentures by repayment made to the debentureholders.But, if the accounting policies adopted, say with respect to depreciation in the two years are different, the profit figureures will not be comparable.Assume that the rate of interest prevailing in your savings bank account is equal to 5 per cent.In order to check the accuracy of the ledger accounts, they also prepare a trial balance which facilitate the preparation of accurate Receipt and Payment Account as well as the Income and Expenditure Account and the Balance Sheet.Each transaction, therefore, involves two or more accounts and is recorded at different places in the ledger.Normally, such barriers result on account of use of wrong words, faulty translations, different interpretations etc.

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