This makes Sales Return and Allowances rarely seen in the records and financial statements of a service business. Furthermore, the provision of trade terms is also essential in attracting more customers. Trade terms like 2/15, n/30 makes wholesalers and even retailers buy in bulk and avail of the new products offered for sale. With this, the importance of monitoring sales returns and bad debts are critical to ensure the revenues stay up-to- date and are not affected by fraudulent or dissenting customers. This makes companies like Pearson successfully manage their sales operations and continue to operate on a global scale. Accounts Receivable Management: Pearson PLC Pearson PLC is a multinational learning company headquartered in London, England. The company is known for its business divisions centered on education, publishing, and business information. It is a leading publishing company and is one of the most successful learning businesses in the world. In fact, if you check on some books at a bookstore, most of the books may have been published by Pearson. Because of its multinational base and British foundation, Pearson follows the International Financial Reporting Standards (IFRS) instead of Generally Accepted Accounting Principles (GAAP) of the United States. This is an important distinction since both standards have different terminologies and applications concerning accounts receivable. Historically, all of Pearson's sales are made in credit, so the company must consider the recognition of Sales Return and Allowances, Allowance for Bad Debts, and Bad Debts Expense. These are common accounts for merchandising and manufacturing businesses since goods sold may be returned or payments may go beyond due date. As opposed to merchandising businesses, services rendered are almost impossible to return. This makes Sales Return and Allowances rarely seen in the records and financial statements of a service business. Furthermore, the provision of trade terms is also essential in attracting more customers. Trade terms like 2/15, n/30

Solve this question with steps please. The subject is fundamental of financial accounting.

Consider the following statements. For each one of them state whether the statement is true or false and provide a brief explanation to support your answer. a) Financial accounting is targeted at external users while management accounting focuses on internal users. b)  The trial balance is part of a company’s financial statements. c)  Bank loans are always non-current liabilities.   d)  In accounting, revenues are recognised whenever there is a cash transfer. e)  As understandability is one of the key characteristics of accounting according to the IASB conceptual framework, transactions that are too difficult should not be recognised in the accounts.

2. Multiple choices, please choose one of the correct choices 1) Which one of the following statements is not true? a) Financial accounting reports are used by investors to make investment decisions while cost and management accounting reports are used by managers to make business decisions. b) Financial accounting summarizes accounting transactions while cost and management accounting presents a detailed analysis of costs, selling prices and any other information required by an entity's management.< c) Financial accounting reports report on what has happened while management accounting reports focus on current activity and future projections. d) Financial accounting reports have an internal user focus while management accounting reports are focused on external users of accounting information.< 2) What kind of cost does the table represent? Output Cost 5,000.00 12,000.00 a) Semi-variable Cost b) Fixed Cost c) Variable Cost 30,000.00 55,000.00 90,000.00 ✔ e A 3) The form and content of…

Where can I find the net profit after tax of a company? I am looking at a balance sheet and I do not see it. I am trying to calculate the ROA of Carnival (CCL)

1. Using the information in appendix 1 only, comment on the financial performance of the business (briefly consider growth, profitability and credit management)  II. Explain why non-financial information, such as the type shown in appendix 2, is likely to give a better indication of the likely future success of the business than the financial information given in appendix 1.  III. Using the data given in appendix 2, comment on the performance of the business. Include comments on internal business processes, customer knowledge and learning/growth, and provide a concluding comment on the overall performance of the business