As an accountant  you should be conversant with the physical and financial components of an expenditure life cycle. Describe the differences between these two?

Q: discuss the role of a financial manager

A: A financial manager is a professional who is responsibles for the financial health of an…

Q: With regard to a qualitative characteristic of useful financial information, two fundamental…

A: Introduction Fundamental qualitative characteristics of financial statements: There are 2…

Q: Explain the components of income from continuing operations.

A: Continuing operations: The portions of the business which are expected to operate in the future are…

Q: what accounting method will be used to evaluate each of the responsibility centers?

A: Responsibility accounting: Responsibility accounting refers to the various tool used by managerial…

Q: Why is it necessary to make a distinction between Capital and Revenue Receipts and Capital and…

A: Capital receipts: These receipts are income that is earned from the investment and financing…

Q: What are the two essential characteristics of usefulfinancial information? What other…

A: Financial information: Financial information refers to the data of the transactions that are…

Q: Discuss the importance of income from continuing operations and describe itscomponents

A: Continuing operations: The portions of the business which are expected to operate in the future are…

Q: How are organization expenses reported?

A: Expense: It can be defined as the cost of running a company's operations to generate or earn…

Q: Identify some investment objectives. Discuss the role that investing plays or could play in a…

A: Investing is purchasing assets with the expectation of a higher rate of return in the near future.…

Q: Financial reporting information may be described in terms of its qualitative features.

A: This question explains about financial reporting information

Q: Explain the composition and elements of a financial environment and how they interrelate with one…

A: The whole financial system is about getting the money from savers and proving it to who need it…

Q: Highlight the importance and duties of the financial manager.

A: Importance of financial manager are: Helpful in controlling as well as in the analysis of the…

Q: Explain the qualitative characteristics of financial reporting information.

A: Conceptual Framework: The FASB's Conceptual Framework for Financial Reporting states the objectives…

Q: Describe some of the motives and mistakes made by the financial engineers?

A: Motives of financial engineers are discussed as follows: Financial engineers use quantitative…

Q: Give a breakdown of the sources of income and categories of costs for a financial organization.

A: Banking institutions are one of the key financial institution of the economy. They primarily receive…

Q: xplain with examples the qualitative characteristics of financial statement that would made…

A: The primary aim of financial statements seems to be to inform stakeholders regarding their…

Q: What are the quality information with regards to financial reporting?

A: Financial reporting is to communicate the financial position and its soundness to the shareholders,…

Q: ancial st

A: The demand for accounting information by investors, lenders, creditors, etc., creates fundamental…

Q: Distinguish between the terms'making investment choices' and'making financial decisions' as they…

A: Here is the answer :

Q: List and explain the objectives of Financial Reporting.

A: Financial reporting is providing detailed financial information to all relevant parties on the…

Q: Who among the internal users need financial information the most

A: Internal users of financial information refer to the persons within an organisation who use…

Q: what is budgeting is accounting? Explain its significance and applications with examples ?

A: The process of estimating future income and losses is called budgeting. In other words, it is the…

Q: Define financial advisor.

A: A financial advisor gives monetary exhortation or direction to clients for pay. Monetary guides (now…

Q: The fundamental & enhancing qualitative characteristics of financial information?

A: Characteristics of Financial Information: It refers to those characteristics which financial…

Q: Explain the composition and elements of a financial environment and how they interrelate with one…

A: A financial environment consists of banks, insurance companies, stock exchange, pension funds etc.…

Q: How could you apply the concept of a balance sheet to your personal finan- cial planning?

A: Financial Planning is a task or step by step process through which create and manage wealth.…

Q: How might the job of an accountant be redesigned to make it more motivating?

A: Job redesign can be referred to as the process through various elements, processes, tasks and…

Q: Importance of having a financial plan.

A: Financial Plan A financial plan means identifying the financial goals and making a detailed plan to…

Q: EXPLAIN the importance and process of personal financial planning.

A: The reasons why personal financial planning is important are as follows: - Helps us to efficiently…

Q: Topic: Income Taxation Active incom

A: There are two types of income active and passive income.

Q: With regard to a qualitative characteristic of useful financial information, two fundamental…

A: Financial information is referred to as monetary data related to the firm. Financial statements…

Q: Information has the quality of relevance if it influences economic decisions of users by helping…

A: The financial statements  are prepared on some standardized principles. These principles are…

Q: Explain the purpose of a value for money audit

A: Value for money (VFM) audit is a scientific, purposeful, organized and objective examination of…

Q: What is the importance of financial information for entreprenuers? Briefly describe the key…

A: Importance of financial information:Identify business problems: Financial information helps to…

Q: Can you tell us what accounting will be used to evaluate each of the responsibility centers?

A: There are three responsibility centres in accounting  Revenue centre-The revenue centre have…

Q: Emphasize the role of the financial manager and his or her responsibilities.

A: The financial manager and his or her responsibilities:

Q: Distinguish between the terms'making investment judgments' and'making financial decisions' as they…

A: Financial managers are those who are in charge of financial matters in their organizations. Taking…