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Classificazione

  • Note di Apprendimento
  • Revisione degli argomenti
    BabaJide Martins F.
    TR
    BabaJide Martins F.

    Classification gives prompt to handle accounting of any firm and of which is designed to produce two outcomes: control and planning.

    Morne V.
    ZA
    Morne V.

    Classification is the division of data into classes or categories to enable the more effective provision of information from financial reports. Classification occurs in both records and reports. Classification is designed to produce two outcomes- control planning When discussing the reasons for classification ultimately you must come back to planning and control. Records The special journals are exclusive in the data they contain, for instance, the cash receipts journal only contains cash receipts.

    Morne V.
    ZA
    Morne V.

    Classification is made in such a way that two (2) outcomes of controlling and planning can be produced. This enables to have a more effective provision of information from financial reports.

    Sunday O.
    NG
    Sunday O.

    Classification is enabling you to know on how to handle your account

    Thomas Haingura M.
    NA
    Thomas Haingura M.

    Classification of the balance sheet is discussed under that heading. Questions on classification of the balance sheet are common and often include the need to recognise current assets and current liabilities. The most common classification error is the treatment of a 'loan' as being exclusively non-current.

    Rutagengwa H.
    RW
    Rutagengwa H.

    When discussing the reasons for classification ultimately you must come back to planning and control.

    Odongo M.
    UG
    Odongo M.

    Accounting -> Topics -> Preparation of reports: classification Classification Classification is the division of data into classes or categories to enable the more effective provision of information from financial reports. Classification occurs in both records and reports. Classification is designed to produce two outcomes- control planning When discussing the reasons for classification ultimately you must come back to planning and control. Records The special journals are exclusive in the data they contain, for instance, the cash receipts journal only contains cash receipts. Within the journal the different sources of data may also be classified. The cash receipts may be classified according to the source of those receipts, whether they be from cash sales, debtors or other sources. Functional classification Functional classification refers to the manner in which expenses are grouped in the Profit and Loss statement. The expenses are classified according to the function they perform and usually correspond to the cost centres of the firm. The advantages of functional classification include- the opportunity to delegate responsibility, for instance, the sales manager is responsible for the sales department expenses the capacity to compare one cost centre with another, with that of similar firms, to benchmarks or with targets set by the firm to set limits on spending for particular cost centres decisions may be made on the basis of information provided, such as considering whether an increase in advertising leads to an increase in sales When a group of motels gets a chance to have all their cleaning undertaken by a central linen service an informed decision to do so can not be made without a cost centre figure for their own cleaning costs. Classification of the balance sheet is discussed under that heading. Questions on classification of the balance sheet are common and often include the need to recognise current assets and current liabilities. The most common classification error is the treatment of a 'loan' as being exclusively non-current.

    ود د.
    SD
    ود د.

    DONE

    Nana Amankwah K.
    GH
    Nana Amankwah K.

    Classification make business more simpler, and data of the business can be access easily

    Manish K.
    NP
    Manish K.

    Data should be classified into different categories for providing accurate financial reports. Majorly, classification is designed to produce two things: control and planning. Different departments should maintain financial records as per the requirement. For stance, sales department, purchase department, etc should make appropriate accounting. Overall, this chapter gives information about classification of data clearly.

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