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How useful is accounting information?
No one would seriously claim that accounting information fully meets all of the needs of every various user groups. Accounting is still a developing subject and we still have much to learn about user requirements and the ways in which these needs must be met. Yet, information contained in accounting reports must help users make decisions relating to the business. Information must reduce uncertainty about financial position and performance of the business. It must help to answer questions concerning the availability of funds to pay owners a return, to repay loans, to reward employees and so on. Mainly, there is no close substitute for information provided by the financial statements. Hence, if users can't glean required information from the financial statements, it's often unavailable to them. Other sources of information concerning financial health of a business are generally much less useful.
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How should I handle Booking an invoice in one month for Raw material that has not been received until the following month?
Below is the Trial Balance for Clay Employment Services, year ending December 31, 2011. Previous period's information were as follows: net receivables, $290,000 and inventory, $82
Prepare a year trading cash budget: Gary Hart needs to calculate how much working capital he will need in his first year as a restaurateur. An accountant friend recommends he
The chief accountant of kamau ltd
You have just started work for Warren Co. as part of the controller's group involved in current financial reporting problems. Jane Henshaw, controller for Warren, is interested in
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