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what is accounting

Accounting is the process of summarising, classifying, analysing financial statements to enable users of financial information make informed decisions

Answered by Barakat J. • Accounting tutor

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“Provision for depreciation is made to provide funds for replacement of a fixed assest” discuss this statement (6 marks)

Raya has decided to depreciate her fixed assets. She has a printing press which was worth £500 at cost and is estimated to depreciate in value at 15% a year, Reducing balance method. Calculate the NBV at the end of year 3. Showing your working out.

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