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Regulation and revenue tax – Accounting helps a business to pay back the appropriate tax it owes to the government Together with the help of your recorded e-book of accounts. Additionally, it acts being an evidence in the courtroom of legislation.
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The Conceptual Framework can be a overall body of interrelated aims and fundamentals that gives the FASB having a find out Basis for location standards and principles to implement as applications for resolving accounting and reporting concerns.
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