Along what two dimensions can we classifytrading procedures?

Q: What are the broad classes of facts that need to be gathered in the system survey?

A: Accounting Information System: AIS collects, records, stores and processes accounting and other data…

Q: In general terms, how does IFRS for SMEs differ from full IFRS?

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

Q: What are the similarities between MRP and DRP?

A: Material Requirement Planning and Distribution Requirement Planning are the essential components…

Q: describe tools and techniques used in fi nancial analysis, including their uses and limitations;

A: Financial analysis can be defined as the evaluation of the profitability, durability and feasibility…

Q: The components of the conceptual framework ?

A:

Q: what does measurement focus mean?

A: Accounting: It is the process of recording, classifying, summarizing all transactions of a business…

Q: What are the steps to achieve conformance to specification?

A: Conformation to specification:   This refers to the regulatory requirements of an organization. The…

Q: What is the purpose of physical contols

A: Physical controls are basically to safeguard the assets of the entity which are highly valuable. It…

Q: What approaches may be employed in applying the LCNRVprocedure? Which approach is normally used and…

A: Lower-of-cost-or-net realizable value: The lower-of-cost-or-net realizable value (LCNRV) is a method…

Q: What are the objectives of application controls?

A: An application control consists of compactness and validity checks, identification, authentication,…

Q: Explain

A: LCNRV method means Lower of cost and net realizable value method.

Q: Describe the assumptions underlying CVP analysis?

A: Cost-Volume-Profit Analysis (CVP Analysis): CVP Analysis is a tool of cost accounting that measures…

Q: How are OLTP and OLAP different? Provide some examples to explain.

A: Definition; Computer-based information system: Computer-based information system refers to the…

Q: mation would be considered

A: The extremely sensitive output can be defined as the information or output that must be guarded from…

Q: Explain the relationship between MRP II and ERP.

A: Material Resource Planning II: An automated system which controls planning of inventory or raw…

Q: What is the heart of ERP system?

A: Given: It is necessary to inquire about the element at the core of the ERP.

Q: Explain the put call parity model. What are the advatages and disavantages of it?

A: Put-call parity characterizes the connection between calls, puts and the underlying assest price or…

Q: What are the relative merits and disadvantages of a current system survey?

A: System Survey: System survey is defined as the process of determining the elements of information of…

Q: Could someone please explain the DCF model

A: Introduction : Discounted cash flows (also known as discounted cash flows): As discounted cash…

Q: Explain the purpose of IFRS for SMEs and how it differs from full IFRS.

A: IFRS or International Financial Reporting Standards are the guidelines of accounting given by the…

Q: explain the specific identification approach

A: Introduction:   Inventory valuation is an accounting practice used by businesses to determine the…

Q: What are the Basic Concepts and Terminology of Replacement-Analysis?a

A: Assets: Assets are those items that provide value for money and future economic benefit for an…

Q: Describe the steps required to apply the APV approach.

A: Adjusted present value is used for estimating the value of projects and the worth of the firms. It…

Q: Summarize what are the MACRS guidelines?

A: The MACRS (Modified Accelerated Cost Recovery System) is the current tax depreciation system in the…

Q: Which of the following are substantive tests?

A: For identifying whether the following are substantive tests or not we need to first identify what is…

Q: What is the DCF method?

A: DCF is a complex tool for valuation which approximates the value of any investment depending upon…

Q: What is view integration?

A: View Integration:  Single model which is created for integrating multiple REA diagrams (which were…

Q: How do CDOs differ from CMBSs?

A: Difference between CDO and CMBS is that CMBS is a subset of CDO. In CMBS the underlying assets are…

Q: what is Reference control ?

A: I assumed as a question, as what is meant by the reference  to cost control?

Q: Define the term the matching principle?

A: Matching concept is an accounting principle which explains the need to match revenue with the…

Q: What are Substantive Procedures?

A: Auditing:   Auditing refers to the procedure for providing independent report over the presentation…

Q: What are two approaches to conceptual systems design?

A: Conceptual Design:   Conceptual design is that structure which provides various conceptual system…

Q: Which of the following is not a dimension of designquality?A. CustomizationB. ServiceabilityC.…

A: The design quality is a technique that helps to serve as a strategic analysis. Its helps the…

Q: What are the three primary CBIS functions that must be separated?

A:

Q: what is the procedure used?

A: Journal entry is a basic accounting entry and is the first step in double entry system of…

Q: Explain the Relationship to the PW Analysis?

A: The question is based on the concept of present worth analysis of a project or cash flows.

Q: Answer of the following question related to these characteristics and constraints. When there is…

A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…

Q: Differentiate between the direct method and the indirect method by discussing each method

A: Definition: Statement of cash flows: This statement reports all the cash transactions which are…

Q: Difference Between Traceability and Controllability? Explain briefly in points.

A: Traceability and controllability are two concepts used in cost accounting. These are the forms of…

Q: What is the difference between FMS - CMS?

A: The differences between dedicated flexible manufacturing system and random-order flexible…

Q: What is the purpose of the FASB’s conceptual framework?

A:

Q: What are the two attributes of OCI?

A: Other Comprehensive Income forms part of Income Statement and it includes revenue, gains, expenses…