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Describe the following questions:-
Q.1 Explain how financial statements assist in the capital allocation process. How are financial statements limited? Which financial statement is the most useful?Q.2 Explain why net income is not always the best measuring stick for a company?Q.3 Research and discuss at least two different forms of business organizations (ex. sole proprietorship, partnership, corporation, LLC, etc.). Discuss why accounting record keeping is important to the success of the organization and how accounting systems can help by increasing efficiency and effectiveness.
what is the implication of applying accounting concept wrongly
Income Statement 2013 2012 2011 Vertical Anaylsis Vertical Anayl Horizontal Net revenue 5,075,390 4,763,180 4,158,507 year 1 year 2 Anaylsis Cost of goods 1,377,242 1,297,102 1,134
Question 1 Define Accounting. Briefly explain the ‘Entity Concept' and ‘Money Measurement Concept' of accounting Question 2 What is rectification of errors? List and explain the
Your firm has been hired to examine the financial statements of Bonanza Development Corp. for possible irregularities. As part of this task, you reviewed certain land transactions
THE SURPLUS CAPITAL METHOD Under this method, the initial amounts repaid to partners are in order to reduce their capitals to amounts such that these are now in the same ratio
Occasionally cash flows may have to be discounted more often than once a year semi- monthly, daily, annually or quarterly. The outcome of this is as fold (i) The number of per
The following market data are available for interest rates and volatilities associated with standard maturities: Suppose you are holding a bond portfolio which invests in a
The Deficiency Account Purpose of deficiency account : The purpose of the deficiency account is to explain the deficit shown on the statement of affairs. The deficiency acc
what is cum interest
mportance of recognition revenue..
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