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Define the term Relevance - accounting information
Accounting information should have the ability to influence decisions. Except this characteristic is present, there is actually no point in producing the information. Information may be relevant to prediction of future events (for instance, in predicting how much profit is likely to be earned subsequent year) or relevant in helping to confirm past events (for instance, in establishing how much profit was earned last year). Role of accounting in confirming past events is significant since users often wish to check the accuracy of earlier predictions that they have made. Accuracy (or inaccuracy) of earlier predictions may help users to judge the accuracy of current predictions. To influence a decision, information should, of course, be available when decision is being made. Hence, relevant information should be timely.
Limited Liability Company (LLC) - Form of doing business combining limited liability for all owners (known as members) with taxation as a PARTNERSHIP. An LLC is formed by filing AR
what if 50% of customers who switch from pisa pizza who switch from original pizza to healthier pizza then switch to another brand from healthier pizza.
DELEGATION A trustee cannot deleget unless: 1. It is necessary or in the ordinary course of administration; or 2. Authorised by the trust instrument; or 3. Authorise
2000
Nine years ago, Goodwynn& Wolf Incorporated sold a 16-year bond issue with a 11% yearly coupon rate and a 10% call premium. Today, G&W known as the bonds. The bonds originally were
Evaluate the importance of leverage in financial management of a small scale company
Problem1 Derive from first principles an expression for the variance of the benefits payable under an endowment assurance with benefits payable at the end of the year of death.
Calculation of Efficiency ratios - 2008 2009 2010 M Net Sales
Allie forms Broadbill Corporation by transferring land (basis of $125,000, fair market value of $775,000), which is subject to a mortgage of $375,000. One month prior to incorporat
PROVABLE DEBTS All debts and liabilities present or future, certain or contingent, are provable in bankruptcy, except: 1) Claims for unliquidated damages in tort; 2) Debts
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