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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.
Q. Theoretical value of shareholding? (i) Theoretical value of shareholding Theoretical ex-rights value = ((No. shares in issue×Market value) + (No. rights shares× righ
Illustration of Deffered Tax A firm bought an item of plant at a total amount of £50,000. During the first year, the firm provided for depreciation of 10,000. The item of plant
Inventory Control Ratios For reasons of monitoring the effectiveness of inventory management this is useful to look at the subsequent ratios and indexes: Overall Inventory Tu
Receiver necessary statement The receiver may, if necessary, require the statement to be submitted by: Past or present officers of the company Persons who have taken
Igor and Angela were married in 2005, separated in 2011, and divorced recently. At the time of marriage, each had some investments and personal assets. They both worked during the
The existing company WACC replicates the company's current gearing level and its existing Ke and Kd and the Ke in turn reflects the shareholders' risk perception of the company's e
Corporation Tax This is the tax payable by companies on their trading activities of a given financial period. The standard doesn’t give the guidelines on how this tax should be
The following items are found in the trial balance of M/s Sharada Enterprise on 31st December, 2000. 10 marks Summer 2013 Sundry Debtors Rs.160000 Bad Debts written off Rs 9000 Dis
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
1) A sales discount correctly taken by the charge customer was debited to Sales at the time the entry was recorded. This error will cause. A) the net income for the period to be un
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