Chapter 1, Problem 1CRC

Accounting professionals apply many technology tools to aid them in their everyday tasks and decision making. The General Ledger tool in Connect automates several of the procedural steps in the accounting cycle so the accounting professional can focus on the impacts of each transaction on the full set of financial statements. use this tool in helping students see the advantages of technology and, in particular, the power of the General Ledger tool in accounting practice, including financial analysis and “what-if” scenarios. How much are total expenses for Apple for the current year?

You are employed by a business consulting firm as an information systems specialist. You havejust begun an assignment with a startup company and are discussing with the owner her need for anaccounting system. How would you respond to the following questions from the owner?a. What is the meaning of the term accounting system?b. What is the purpose of an accounting system and what are its basic functions?c. Who is responsible for designing and implementing an accounting system?

Choose TWO of the following questions to discuss: In your opinion, what was the most important topic or subject you studied in this course? Explain your answer. What topic or subject did you struggle with most in this course? What did you find most surprising about this course?  What did you learn in this course that you think will benefit you in your future studies or career path? This course completes your study of the foundations of accounting. After completing this course, what area of accounting are you interested in pursuing?

In your own words, what does relevance mean to you?  After tackling this topic, then research characteristics of relevance from an Accounting standards perspective and explain.

Fill in the blanks below with the accounting principle, assumption, or related item that best completes the sentence. ________________________ and _______________________ are the two fundamental qualities that make accounting information useful for decision making.   Information that helps users confirm or correct prior expectations has _________________            ___________________.   ________________________ enables users to identify the real similarities and differences in economic events between companies.   _________________ is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.   Information is _______________________ if omitting it or misstating it could influence decisions that users make on the basis of the reported financial information.   The ________________________ characteristic requires that the same accounting method be used from one accounting…

As an accountant doing an accounting evaluation for the case study, give a brief introduction.

What are the best accounting and finance resources? Note: I want to know the best accounting and finance learning resources that I can study from and refer to in case I want to relearn something related to finance or accounting again.

Using the knowledge you have acquired in this course and as per guidance from IAS I and IPSAS 1, what would you consider a complete final Accounts ready for publication?     State what you would expect to find in the Notes to general purpose financial statements giving its rationale  ?

Write a research paper discussing where accounting records are kept.