Define accounting, and describe the roles of private andpublic accountants.

Q: Who is responsible for assessing the accountant's competence? A The American Institute of Certified…

A: AICPA (The American Institute of Certified Public Accountants) is the Certified Public Accountant's…

Q: Describe the various types of individuals who use accounting information and how they use that…

A:

Q: What is the purpose of the Code of Professional Conduct for the accounting profession?

A: A code of ethics must have traditionally been the conventional mechanism whereby a profession…

Q: Explain breifely about the theories of accounting regulation – public interest theory, capture…

A: The four theories of accounting regulation are: Public interest theory, Capture theory, Economic…

Q: explain the relationship between culture and the adoption of accounting practices

A: Culture includes the beliefs, ideas and customs followed by the individuals in a particular society.…

Q: Explain: Understanding the intentions of accounting students to pursue career as a professional…

A: Answer: There are wide variety of scope for accounting field.  Accounting field students have career…

Q: Who is in charge of financial accounting and who is in charge of management accounting?

A: The Answer

Q: Which among the following is an external user of accounting information? a. Government authorities…

A: Accounting information means financial statements and results that are useful for decision makers…

Q: What is meant by the professional designations CPA, CMA,and CIA, and how do these designations add…

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Q: 4.What are the major functions or activities performed by accountants in private industry

A: Private industry refers to a entity which is profit oriented and being operated by non state…

Q: why Chief Financial Officer must have a background on the following subjects: Financial Accounting…

A: why Chief Financial Officer must have a background on the following subjects:  Financial…

Q: Why is a knowledge of accounting terms and concepts use-ful to persons other than professional…

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Q: Which of the following factors should influence business and accounting decisions?a. Economicb.…

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Distinguish and explain how and why accounting is the business language.

A: Introduction: Financial accounting is the process of recording a company's financial transactions…

Q: Why are stakeholders important in accounting ethics?

A: Stakeholders' refers to the person(s) or a group who has some interest in a company and can be…

Q: Who among the following is a direct user of accounting information? Labor association Financial…

A: Users of accounting information is classified into 2 categories:  a. Direct users  b. Indirect users…

Q: opines on the professional responsibilities of the accountant in his practice of accounting and…

A: Professional Responsibility of Accountant: An Accountant assists organizations in making key…

Q: Discuss the importance of Accounting Research in the practice of of Accounting profession.

A: Accounting research Accounting research examines however accounting is employed by people,…

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

A: External users of accounting information are users outside the organisation that use information for…

Q: What is the relevance of the Accounting Information System in today's accounting practice, and how…

A: SOLUTION THE PURPOSE OF ACCOUNTING INFORMATION SYSTEM IS TO COLLECT ,STORE AND PROCESS FINANCIAL AND…

Q: Who are the most important consumers of accounting information and why do they need it? What kind of…

A: Here is the Answer

Q: Accounting is the process of identifying, recording, analyzing, and communicating financial…

A: Accounting : The accounting is defined as the process of identifying the financial transaction,…

Q: Role of accounting officer

A: An accounting officer is a person who is responsible for the financial record keeping of the…

Q: t

A: Definition of an Accountant An accountant is an expert who is liable for keeping and deciphering…

Q: Why is it necessary for accountants to assume that business entity will remain a going concern?

A: Introduction: The concept of a going concern is crucial to accounting. It presupposes that a…

Q: Identify TWO external consumers of accounting information and explain how that accounting…

A: Introduction: The term "financial statement" refers to any statement, such as an income statement, a…

Q: What elements should accountants examine while developing a company's PPE accounting policy

A: The assets on a company's balance sheet are the things that will bring it money in the future. The…

Q: Who are the key users of accounting information? What type of information does each stakeholder…

A: Accounting: Accounting refers to the information system, where the economic activities of a business…

Q: What is accounting? What type of information is provided by the accountants? How does an…

A: Meaning of Accounting: Accounting is the process of recording financial transactions pertaining to…

Q: Description of Canadian accounting organizations and the services offered by them to support…

A: Canadian accounting organizations are nonprofit organizations that represent accounting…

Q: What are the role of accountants in the organization?

A: Role of accountants in an organization: 1. Collecting and recording accurately all the financial…

Q: Describe the organization of public accounting firms and identify the variousservices that they…

A: A small business might use a public accounting firm to prepare the monthly or quarterly financial…

Q: Which of the following organizations is responsible for the creation and governance of accounting…

A: The answer is option (b.) [i.e, Financial Accounting standards Board (FASB)] Refer Step 2 for…

Q: What is the function of accounting information systems in today's accounting practise

A: Accounting Information System (AIS) is a concept. Generally speaking, an accounting information…

Q: Who regulates financial accounting and who regulates managerial accounting

A: Financial accounting: Financial accounting is different from managerial accounting. Financial…

Q: Explain what the accrual foundation of accounting is and who is required to use it in your…

A: This question explains about the accrual foundation of accounting .

Q: what is professional judgement in financial accounting ?

A: Financial accounting is that branch of accounting which deals in recording of transactions,…

Q: Describe the roles of the following organizations in establishing generally accepted…

A: a. The Financial Accounting standards Board (FASB) is the primary standard-setting body in the…

Q: Which type of accountant typically practices as an individual or as a member of a public accounting…

A: Auditing: Auditing is the process by which assertions made by management about financial…

Q: Many accounting professionals work in one of the following three areas.A. Financial accounting B.…

A: Financial Accounting:   It refers to the process of recording the financial transactions of the…

Q: Explain the difference between public and private accounting

A: SOLUTION-   ACCOUNTING  IS THE PROCESS OF RECORDING FINANCIAL TRANSACTIONS PERTAINING TO A BUSINESS.

Q: Explain the relevance of law to accountants in their capacity as third parties acting for/on behalf…

A: Professional ethics refers to the ideals, guiding principles, and professional agreed standards of…

Q: Discuss how the basic principles of accounting is applied in business organizations. Give examples.

A: The basic principles of accounting that is applied in business organisation are: 1. Business Entity…

Q: Explain certain accounting principles that are important for an understanding of financial…

A: While it would sound exhausting or exclusive, financial accountancy assumes a key half that allows…