Discuss meaning of the principle of financial accountability

Assignment Help Managerial Accounting
Reference no: EM13183439

A) Explain in your own words the following:

1. With reference to an example as to which monies received should be deposited and withdrawn from each bank account, the difference between Business and Trust banking accounts.

2. With reference to an example as to what type of transactions should be recorded in each book of account, the difference between Business and Trust books of account.

B) is the principle of financial accountability applicable to legal practices in Africa and if so, in what way?

C) Discuss the meaning of the principle of financial accountability?

Reference no: EM13183439

Questions Cloud

What is the expected utility of this lottery : Suppose that you have utility as a function of income (I) given by the equation: \(U = \sqrt{501}\) Consider a lottery that provides a payoff of $0 with probability 0.75 and $200 with probability 0.25. What is your utility if you receive a sure..
State what is the smallest number of packages of buns : What is the smallest number of packages of buns, packages of patties, and jars of pickles, respectively? Express your answer as three integers separated by commas.
Does the production function display economies of scale : Assuming that input prices do not vary with the level of output, does this production function display economies of scale? b.The firm is producing in the short run with capital fixed at 9 units. The fixed costs of the firm are $1000 in the short ru..
What is deltah density and specific heat as water : The reaction caused the temperature of the solution to rise from 22.06 C to 26.42 C. If the solution has the same density and specific heat as water, what is deltaH for this reaction (per mole of H2O produced)?
Discuss meaning of the principle of financial accountability : Is the principle of financial accountability applicable to legal practices in Africa and if so, in what way and discuss the meaning of the principle of financial accountability?
What is the economically efficient level of production : Where Q measures the number of units of the public good and P is the price in dollars. The marginal cost of providing the public good is $180. a) What is the economically efficient level of production (Q*) of the good? b) Illustrate your answer on ..
Depict lewis structures for the three species : The acid forms two ions, HC2O4- and C2O42-, by the sequential loss of H+ ins. Draw lewis structures for the three species and comment on the relative lengths and strengths of their carbon-oxygen bonds.
What is the minimum cost of producing : Find the firm's marginal production function exhibit diminishing marginal returns to labor? explain b. Capital is r=$5 per unit and that labor costs w=$20 per unit. What is the cost of producing q=100 units of K and 100 units of L? c. What is the m..
What is the heat of combustion of a particular compound : At constant volume, the heat of combustion of a particular compound is -3698.0 KJ/mol. When 1.895 g of this compound (molar mass=181.06 g/mol) was burned in a bomb calorimeter

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Cost implication of bp gulf oil spill

dentify the cost implications of the spill and how best they might be recognized by BP (and others). Should the accountant take a positive approach or a normative approach when trying to quantify the costs?

  Cost driver for the material handling activity

Under a costing system that allocates overhead on the basis of direct-labor hours, the material handling costs allocated to one mirror would be what amount?

  Cost allocation for kleyman company

The controller of Kleyman Company estimates the amount of materials handling overhead cost that should be allocated to the company's two products using the data that are given below:

  Equivalent units-assigning costs using production cost

Calculate the cost per equivalent unit for each of the 3 cost items and in total. Calculate the cost of items completed in Aug and the cost of ending work in process inventory. Reconcile the sum of the 2 costs in part b to the sum of beginning WIP an..

  Edge worth box and pareto efficiency

How a Pareto Superior allocation can be achieved that will help some people without hurting others. Make sure you define efficiency and Pareto Superiority.

  About the merger and acquisition activity of the coca cola

Select one acquisition the company has undertaken during recent history and explain details of the deal. About the merger and acquisition activity of the Coca Cola

  Job costing-process costing differentiated

What are the major differences between job-order costing and process costing systems?

  Unit cost using actual and normal costing

Triple Play Sports manufactures baseball gloves. Information related to a recent production period is as follows: What might have caused the amount of overhead applied to be different from the actual amount.

  Low cost or a differentiated product strategy

Prestige Computers is trying to decide whether to produce and sell a new home computer software package that includes the ability to interface with a sewing machine and a vacuum cleaner. There is no such software currently on the market.

  Process costing-solution set

The following information relates to activities in the mixing departments for June: Beginning WIP, June 1, 100,000 pounds. Cost in beginning WIP inventory were as follows:

  Elements of manufacturing cost

Group the costs of manufacturing candles. Indicate whether each of the following items should be classified as direct materials (DM), direct labor (DL), overhead (O), or none of these (N). Also indicate whether each is a prime cost (PC), a convers..

  Forecast for 2010 federal budget deficit

Research what is the FORECAST for Federal Budget Deficit for fiscal year 2010. What are the economic implications of Government running a deficit year after year?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd