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Accounting is most commonly connected with money management but is not restricted to fiscal management. Why is accounting essential
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The accrual principle is the concept that accounting transactions have to be recorded during the time period in which they occur not just within the time period by which you will find linked hard cash flows.
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Phase five: Alter entries that are not created by way of a selected document. For example, depreciation expenditures in which the bought things are recorded as an asset and loss of its benefit with time.
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