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Financial Accounting FAC 1502

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Financial Accounting FAC 1502

Institution
Financial Accounting FAC 1502
Course
Financial Accounting FAC 1502

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Income


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Increases in economic benefits during the accounting period in the form of
inflows or enhancements of assets




Equity


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Assets - Liabilities




Input Tax

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VAT on those goods or services received




Liabilities


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Present obligations of the entity arising from past events, the settlement of
which is expected to result in an outflow from the entity




Revenue


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Earned from the entity's ordinary activities




Output Tax


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VAT added to goods or services supplied by vendor to other persons




Non-current Assets


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Institution
Financial Accounting FAC 1502
Course
Financial Accounting FAC 1502

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