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A novelty item is an object which is specifically designed to serve no practical purpose, and is sold for its uniqueness, humor, or simply as something new (hence "novelty", or newness). The term also applies to practical items with fanciful or nonfunctional additions, such as novelty aprons , slippers , or toilet paper .
Journal entries can record unique items or recurring items such as depreciation or bond amortization. In accounting software, journal entries are usually entered using a separate module from accounts payable, which typically has its own subledger, that indirectly affects the general ledger. As a result, journal entries directly change the ...
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Examples include such items as cancelled checks, paid bills, payrolls, subsidiary ledgers, bank reconciliations. [1] Accounting records can be in physical or electronic formats. In some states, accounting bodies set rules on dealing with records from a presentation of financial statements or auditing perspective. Rules vary in different ...
Accounting History covers a wide variety of topics in the field of accounting. In the article, there are many topics of papers chronicling histories, the records of accounting, and theories about accounting. These topics are covered to further initiate more research or discussion in the field of accounting. [5]
Under the historical cost basis of accounting, assets and liabilities are recorded at their values when first acquired. They are not then generally restated for changes in values. Costs recorded in the Income Statement are based on the historical cost of items sold or used, rather than their replacement costs. For example,
The Academy of Accounting Historians' Journal and Notebook contain, respectively, scholarly research on accounting history and information on the activities of the Academy. The Accounting Pamphlets - Full-Text collection contains searchable full-text accounting pamphlets that are not under copyright.
A chart of accounts (COA) is a list of financial accounts and reference numbers, grouped into categories, such as assets, liabilities, equity, revenue and expenses, and used for recording transactions in the organization's general ledger.