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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.
Balance Sheet Preparation with a Missing Element The following data are available for Schubert Products Inc. as of December 31, 2012. Cash . . . . . . . . . . . . . . . . . . . . .
Group retained profits Retained profits ideally should be the amounts that can be distributed as dividends. Therefore, in arriving at group retained profits, careful attention s
Flying High Inc. plans to raise $5,000,000 external financing by issuing bonds, and is considering two options: regular bonds & zero couple bonds. The regular bonds will have coup
The New York Jets have decided to go public and are offering new shares for $40. Since the Jets want to build a new stadium, the firm will retain all earnings and will not issue an
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Part A: The following information relates to Company A's defined benefit pension plan during the current fiscal year: Plan assets (beginning of the year) $400 (all number are in $m
Q. Show the goals of managers? The goals of managers may conflict with the objectives of shareholders particularly with the objective of maximisation of shareholder wealth. Man
what are the advantage and disadvantage to mr fish, mr Lobster of forming a partnership rather than a close corporation or a company?
On May 19, 2010, Kim placed in service a LIGHT VAN that cost $54,850. It is used 80% for business each year. What is the maximum cost recovery deduction available for the van in 20
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