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Reliable information is essential before decision makers can make a sound decision involving the allocation of scarce resources. Accounting information is precious because decision makers are able to use it to evaluate the financial consequences of various alternatives. Accountants eliminate the requirements for a crystal ball to estimate the future. They are able to reduce uncertainty by using professional judgment to quantify the future financial impact of taking action or delaying action.
Even though accounting information plays a significant role in reducing uncertainty within the organization it as well provides financial data for persons outside the company. This information notifies how management has discharged its responsibility for protecting and managing the company's resources. Stockholders comprise the right to know how a company is managing its investments. In fulfilling these compulsion accountants prepare financial statements such like a statement of retained earnings, an income statement, a balance sheet, and a statement of cash flows. Additionally they prepare tax returns for federal and state governments and fulfil other governmental filing requirements.
Q. What is Intangible Assets? Intangible Assets are items likecopyrights, patents, licenses, trademarks, franchises andother kinds of rights or things of value to a company tha
Q. Explain about Classified income statement? An unclassified income statement has merely two categories revenues and expenses. In contrast a classified income statement divide
Q. Explain about Going-concern concept? Except strong evidence exists to the contrary accountants assume that the business entity will continue operations into the indefinite
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Complete a descriptive analysis of the following data elements in the Organizational Assessment Study dataset. Use appropriate graphical tools and descriptive statistics to charact
most consrvatism way of lower cost method
In addition, assume that Anheuser-Busch InBev sold 200 million barrels of beer during the year. Assume that variable costs were 75% of the cost of goods sold and 40% of selling,
Just i need a news about public interest theory which is after 1 Mar 2013 for my assignment.
Why is it important for accounting information to be accurate and timely?
10% preference share 336 ooo ordinary share capital 480 000 prepare a statement of profit or loss
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