Explanation

The Financial year /tax year of Pakistan starts from 1 July 

It runs for 12 months, starting on July 1st and ending on June 30th 

Designation: It's often referred to by the calendar year in which it ends

Explanation

“Budgetary control is a system of controlling costs which includes the preparation of budgets, coordinating the departments and establishing responsibilities, comparing actual performance with the budgeted and acting upon results to achieve maximum profitability.” 

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RY18012023

Explanation

The 8 Steps of the Accounting Cycle

Step 1: Identify Transactions. The first step in the accounting cycle is identifying transactions. 

Step 2: Record Transactions in a Journal. 

Step 3: Posting. 

Step 5: Worksheet. 

Step 6: Adjusting Journal Entries. 

Step 7: Financial Statements. 

Step 8: Closing the Books.

Explanation

Explanation

" bid " means a tender, or an offer, in response to an invitation, by a person, consultant, firm, company or an organization expressing his or its willingness to undertake a specified task at a price

Explanation

This is why they are also known as productivity ratio, efficiency ratio or more famously as turnover ratios.

Explanation

Window dressing occurs when portfolio managers try to boost a fund's investment performance prior to investor or shareholder presentations.

Explanation

“Budgetary control is a system of controlling costs which includes the preparation of budgets, coordinating the departments and establishing responsibilities, comparing actual performance with the budgeted and acting upon results to achieve maximum profitability.” 

Explanation

Explanation

Auditors are specialists who review the accounts of companies and organisations to ensure the validity and legality of their financial records.