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Q. External users of accounting information?
The external users of accounting information grouped into groups; everyone has different interests in the company and wants answers to unique questions. The six groups and some of their possible questions are:
• Owners and potential owners. Has the company earn satisfactory income on its total investment? Necessity an investment is made in this company? Must the present investment be decreased, increased or retained at the same level? Be able to the company install costly pollution control equipment and still be profitable?
• The Lenders and Creditors. Must a loan be granted to the company? Will the company can pay its debts as they become due?
• The Employees with their unions. Does the company have the capability to pay increased wages? Is the company financially capable to offer long-term employment for its workforce?
• Customers. Does the company tender useful products at fair prices? Will the company continue to exist long enough to honour its product warranties?
• Governmental units. Is the company such like a local public utility charging a fair rate for its services?
• General public. Is the company providing valuable products and gainful employment for citizens without causing serious environmental problems?
Q. Show Debit and Credit column? - Debit column. In the debit column the sum of the debit is on the same line as the title of the account debited. - Credit column. In the cr
What are the accounting Principles?
Hi Team, I want to get an accounting assignment to be done according to NZ university standards. It''s from basic accounting (introduction to accounting). Need to be done by 10th
What is procedure for testing after implementation as functional consultant? Ans) Testing involves a step by step check of several transactions configured in the SAP system.
Q. Describe the Cost of sales? Cost of sales, cost of goods sold -- expense or cost of all items sold during an accountingperiod. Every unit sold has a cost of sales or cost of
Breakeven Analysis - I really need help calculating this. Our company's breakeven point occurs after the agency consecutively yields two months of positive net income. This a
Q. Explain about Freight collect? Freight collect indicates the buyer should initially pay the freight bill on the arrival of the goods. To demonstrate the use of these terms s
Determine the concept of Closing entries-(REID) 1) Close Sales account and other income statement accounts with credit balances to Income Summary. 2) Close each expense ac
The Company changed its process of accounting for pre-opening costs. These changes had no cash impact and the pro forma amounts accessible in the consolidated statement of income r
Q. What is Sales Discounts account? The Sales Discounts account is the contra revenue account to the Sales account. In the income statement the seller deducts this contra reven
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