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An appropriation account shows the various ways that company funds have been used. For example funds may have been split between investment, tax payments, making external loans or distribution of dividends.Appropriation accounts are also undertaken by organisations such as local councils and charities.
Appropriation account represents the allocation of earnings into reserves, dividends taxes etc.
Appropriation account is used by a government or private corporations to allocate funds to an agency or project. The funds allocated for a designated purpose will reduce the main account (i.e. Retained Earnings). If the funds stored in an appropriation account are unused as of the end of a budget period, the funds are typically reallocated elsewhere.
General accounting: Part of the income statement (profit and loss account) that explains how a firm profit has been used to pay dividends and to increase reserves indicated in the balance sheet
Appropiration account represents the allocation of organization earnings into provisions, reserves, dividend & tax. Profit after tax is the net earning of the organization.
General accounting: Part of the income statement that explains how a firm's profit has been used to pay dividends, and/or to increase reserves indicated in the balance sheet. It states what happens to profit, instead of how it was earned, and is usually shown separate from the main statement.
Public accounting: Government agency account that is credited when appropriation for it is authorized in a budget.
Appropriation Account indicates how the profits of the organisation are allocated to shareholder/stakeholders, dividendsor reserves. It also shows the profit before taxes and transferred into retained earnings after distributed the Management Fees.
to keep a company's financial data organized, accountants developed a system that sorts transactions into record called accounts, when a company's accounting is set up, the accounts most likely to be affected by the company's transactions are identified and listed out. this list is referred to as the company's chart of accounts. within the chart of accounts the balance sheet accounts are listed first, followed by the income statement accounts in other words, the accounts are organized in the chart of accounts as follow as :
. Assets
.Liabilities
.owners equity
.revenue or income
.expenses
.Gains and losses
retraces the revenue allocated to the financing of a given category of expenditure and the use given to these revenues
Financial accounting an general accounting
