Which of the following is not one of the general ledger and reporting activities? A. Updating the general ledger by posting entries from the accounting subsystems and treasurer B. Posting adjusting entries to the general ledger C. Preparation of managerial reports D. Recording entries in general journal

Q: A Primary Objective of an accounting information system (AIS) is: Select one: a. To control the…

A: An accounting information system is a system of collecting, storing and processing financial data…

Q: GENERAL LEDGER/REPORTING SYSTEM. Please explain how each cycles in the business process/transaction…

A: General Ledger Reporting system The preparation of the general Ledger is one of the important…

Q: Which item below is not considered a major input to the general ledger and reporting system?…

A: Introduction: Statement of cash flows: All cash in and out flows are recorded in statement of cash…

Q: Give an example of how financial statements can be used internally by themanagers of a company.

A: Answer: Financing statements help companies to understand the financial health and are used for…

Q: Why are traditional accounting events such as recording a transaction in a journal or posting to…

A: The traditional accounting events such as recording transaction in a journal not modelled in REA…

Q: Which of the following is a feature of the transaction file? Conceptually similar to the ledger in…

A: A transaction file is the file which contains the list of transactions. It is used to update the…

Q: The area of accounting concerned with providing internal users with information is called O a.…

A: There are mainly two types of users of accounting information - the external and . The external…

Q: The basic Objective of the management accounting is to supply the accounting information to…

A: Management accounting is a form or branch of accounting which helps in decision making by managers…

Q: Compare managerial accounting and financial accounting in terms of the following: • types of…

A: Solution:- Introduction:- Managerial accounting used by managers and directors to make decisions…

Q: What is the purpose of Financial Reporting Releases and Staff Accounting Bulletins?

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Q: What can be understood by Staff Accounting Bulletins?

A: International Financial Reporting Standards (IFRS):  International Financial Reporting Standards is…

Q: Please select the aspect of accounting associated with the following activities   1. analyzing and…

A: The aspect of accounting through which all accounting process is operate the aspects are identifying…

Q: The general journal organizes accounting information in:

A: In any business entity , whenever any event occurs or a transaction takes place it is recorded in a…

Q: Policies and procedures that client management has established to meet its objectives for financial…

A: Financial reporting means circulation and sending of financial information and financial statements…

Q: The ledger that contains the financial statement accounts of a company is the a. General journal. d.…

A: The ledger that contains the financial statement accounts of a company is the General Ledger  option…

Q: Distinguish between managerial and financial accounting in terms of the key consumers of their…

A: Introduction : When a company's transactions and economic activity throughout time are recorded and…

Q: The ledger that contains the financial statement accounts of a company is the Choose General journal…

A: In terms of accountancy,  a ledger can be defined as an accounting book that contains all…

Q: Distinguish between managerial and financial accounting

A: Managerial Accounting is the application of various analysis, measurements, identification,…

Q: Distinguish  between Managerial Accounting and Financial Accounting with respect to the primary…

A: The process of recording, summarising, and reporting to the public or regulators the flow of…

Q: Which transaction cycle includes interactions between an organization and its suppliers? Select one:…

A: Transaction cycle is set of various business transactions which can be aggregated to small number of…

Q: Identify and discuss several professional organizations that play important roles in preparing…

A: The organizations listed below formulate and execute policies for the interest of investors in the…

Q: Identify the following users of accounting information as either an (a) external or (b) internal…

A: External users of accounting information are those persons which are external to the organisation…

Q: This approach is useful for compliance reviews where operators should do what the contract, law,…

A: Answer: The correct answer is option (b) Value stream map Value stream Map gives the clear overview…

Q: PLEASE ANSWER ALL OF THE ITEMS Write ‘True” if the statement is true and write “False” if the…

A: Managerial accounting involves the presentation of financial information for internal purposes to be…

Q: Identify the following users of accounting information as either an (a) external or (b) internal…

A: Internal users: Internal users of the financial statement are the inside individuals or the members…

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Q: The accounting cycle refers to a series of sequential steps or procedures performed to accomplish…

A: 1) The accounting cycle is the process of identifying, recording, classifying, and summarizing the…

Q: Use the flowchart to answer these questions:a. What accounting document is represented by symbol…

A:

Q: What are the limitations of a manual accounting information system in business? How simple is the…

A: Limitations of manual accounting information system Manual accounting system is the system where…

Q: Which of the following is an internal user of a company's financial information? a. company…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: Identifying users of accounting information For each of the users of accounting information,…

A:

Q: Explain Staff Accounting Bulletins.

A: Securities Exchange Commission (SEC): This is the government agency governs the working of financial…

Q: The following are subsystems of the Accounting Information System, EXCEPTa. Transaction Processing…

A:

Q: In the accounting book-keeping process, what is the difference between the general journal and the…

A: General Journal The purpose of preparing the general journal entry which is the transaction which…

Q: Management accounting information is used by internal users for various types making. What are the…

A: Management accounting information refers to the collective form of all the desired reports and files…

Q: An organization needs to keep flow of information with various internal and external parties.…

A: Accounting is defined as the procedure for recording, interpreting as well as summarizing the…