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Any processes that involve the extraction of raw materials from the earth to be used by consumers The extractive industry consists of any operations that remove metals, mineral and aggregates from the earth Examples of extractive processes include oil and gas extraction, mining, dredging and quarrying...
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Co-operative societies are business organization though in the class of non profit seeking form of business organization whether a business is profit oriented or non profit oriented, it should hare an accounting system...
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Accounting for the oil, gas and mining industries Accounting for the extractive industries is a specialist area that requires expertise and an understanding of the business...
Depletion Method of Depreciation - AccountingExplanation
Thus if a stone quarry estimated to contain 100,000 tonnes of stone, is acquired for $5,000, the amount of depreciation to be provided will be 5 cents per tonnes of stone raised Example: The SM limited leased a manganese ore mine on June 30th 2002 for a sum of $500,000...
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Carrying out an audit on a company that own of a subsidiary, the carrying value of which is £2 million This is the carryin value at cost in 2007, however the subsidiary only has one asset which is a quarry...
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In accounting the term variance usually refers to the difference between an actual amount and a planned or budgeted amount For example, if a company's budget for repairs expense is $50,000 and the actual amount ends up being $45,000 or $63,000, there,...
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A quarry is a site where a stone or gravel producer extracts a variety of raw materials from the earth Common types of material extracted in quarrying activities include limestone, granite and sand...
The System for integrated Environmental and Economic Accounting (SEEA) was developed by the United Nations to provide a conceptual basis for implementing a 1993 SNA (satellite) system for integrated environmental and economic accounting...
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Cloud accounting software means using web-based software to manage your business financ Put simply, it allows you to work securely on your business whenever and wherever you want The cloud is a more collective term describing any remote server, or computer, that stores your data...
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