Today's homework for everyone is to find limitation of accounting
sir, can we have a discussion about this tomorrow?
okay, class then we will discuss limitaton tomorrow so be prepared
Thank u sir
फिसलना: 3
oh! i total forget that sir today gave us the homework.I should i start searching about it
where should i find ans about it ,should i google it or ank mummy for answer.i think i should ask mom for it
फिसलना: 4
Okay, well how is school?
It's alright. I just have a discussion tomorrow on the limitation of accounting
Well the topic of limitationt accounting is not a hard topic this consist only 4-5 points
What do you mean!is this realy a easy topic?
yes, don't worry. The accounting is a systematic process which can have both pros and cons
फिसलना: 5
hello
So,first is accounting is not fully exact few places estmates are placed like for ex- ascertaining profit or loss. second is unrealistic information estimation of useful life of an asset make the information unrealistic
फिसलना: 6
Third is accounting ignore the qualitative elements- accounting only record monetary matters only and so it ignore qualty or skills, fourth is accounting may leads to window dressing means manuplation of accounts in a manner that vital facts are concealed
That's it?!
Yup! That's it! That's the limitation of accounting !