Posts By Ann R

Difference Between FHA and Conventional Appraisals

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Over the past couple of years, there have been dramatic changes in the market, thereby reducing home foreclosures. However, with the reduction in foreclosure numbers, the market requirements have increased. Home appraisal demand is very&hellip

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Difference between GAAP and Budgetary basis

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In the world of accounting, GAAP are the accounting principles that are acceptable in general. They are the ones that govern how and what is reported in the records of accounting. This is however not&hellip

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Difference between GAAP and ASPE

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Generally Accepted Accounting Principles, also abbreviated as GAAP are guidelines and accounting principles used by most companies based in the US. These foundational principles usually help the owners of small businesses in the US to&hellip

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Difference between GAAP and FASB

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When a brand of new accounting standards were set by IASB, several countries adopted these standards before they fit in their country’s accounting standards. In turn, these standards as set by the particular accounting standard&hellip

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Difference between GAAP and Cash Accounting

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The conventions and standards applied in U.S for purposes of offering uniformity in the financial statements and also in accounting are known as the Generally Accepted Accounting Principles (GAAP). The recommended accounting method by GAAP&hellip

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Difference between GAAP and IFRS consolidation

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The decision on whether a reporting entity can consolidate another entity under GAAP and IFRS should is based on control. IFRS favors a model of control in consolidation, whereas the risk and reward model is&hellip

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Difference between GAAP and IFRS Balance sheet

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Generally Accepted Accounting Principles (GAAP) are those accounting standards used in the United States. International Financial Reporting Standards (IFRS) are the other set of accounting standards used in more than 110 countries across the globe.&hellip

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Differences Between Available Balance and Ledger Balance

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Various financial transactions are carried out by individuals on a daily basis, usually through bank accounts. As time go by, the transactions can become complex. Banks and financial institutions use different financial terms in their&hellip

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Difference between Gaap And Accrual

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Accrual accounting In the accrual system of accounting, revenue is recorded after the completion of specified work and not when cash is received. This means that revenue is recorded when earned even though the customer&hellip

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Difference between available balance and posted balance

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In order to successfully manage your funds, it is paramount to have an understanding of banking activities and how your account balance is affected by these activities. Nowadays, almost every individual has a bank account&hellip

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Difference between Loss Payee and Mortgagee

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Insurance refers to an important contract whereby a person pays an amount of money as consideration in exchange of compensation for the risk in terms of financial losses that are uncertain. It is therefore important&hellip

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Difference between GAAP Accounting and Tax Accounting

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All accounting reports are not equal as illustrated by different methods of accounting applied in the United States. Business accounting shows financial transactions recording of a business’ financial transactions. For public companies, the required accounting&hellip

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Difference between Itemized Deduction and Standard Deduction

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In the U.S, couples or individuals filing tax returns jointly are given alternatives when making preparations for Federal tax returns on their income. Once they calculate the Adjusted Gross income, tax payers then proceed to&hellip

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Difference between available balance and current balance

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Available Balance This is the bank balance that can be accessed immediately. If the available balance level is exceeded, then an overdraft balance will form even though one is within limits of the current balance.&hellip

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Difference between CIMA and ACMA

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The significance of management accounting has in the past few decades increased since it offers crucial information which is crucial for purposes of decision making. Management accounting plays a crucial role in the success of&hellip

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