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05Aug2014

Planned Depreciation Vs. Manual Depreciation

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Depreciation: Depreciation is the wear and tear value of the fixed assets due to usage or lapse of time. As per the statutory requirement of the each country or GAAP followed by the entity, depreciation is required to charge to the profit and loss account on a periodic basis during the Fiscal Year. The depreciation
18Apr2014

Currency in SAP – Fixed Assets

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Currency in Fixed Asset Accounting is a recurring topic of misunderstandings. The following explanations usually apply to all postings to Fixed Assets.  In individual cases, deeper integration may cause differences in postings from FI, or there are advanced options for intervening in the process.
17Apr2014

Accounting Entry in SAP

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The double-entry bookkeeping system was codified in the 15th century and refers to a set of rules for recording financial information in a financial accounting system in which every transaction or event changes at least two different accounts. In modern accounting this is done using debits and credits within the accounting equation: assets = liabilities
17Apr2014

Chart of Accounts

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A list of Account name & number used in a company’s general ledger to record day to day transactions. A company need to publish its state of affairs and operating result for the use of Shareholders, Creditors, Bankers, Employee, Govt. Authorities, etc. To publish the financial statement all the day to day transaction should be