Describe recognition and measurement concepts.

Q: determine the initial recognition, initial measurement, and subsequent measurement ofbonds;

A: The face value of a bond is the fixed maturity value and the coupon is the fixed periodic amount…

Q: Define composition

A: Composition: The composition is the act of putting something jointly, or the grouping of rudiments…

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: Explain Matching Principles?

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

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: Define agency relationship

A: Agency relationship is the part of business law where it is a legal relationship between the two…

Q: Define roadshow

A: Roadshow: Roadshow is a sequence of conferences across diverse towns in which topmost managers from…

Q: Explain how directmaterials standards and directlabor standards are set

A: Cost Standards: Cost Standards are prepared to analyze the variances between the actual and 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: Explain what asymmetric information is.

A: Asymmetric information is aslo known as information failure, it occurs when one party to an economic…

Q: Describe about the intuitive approach?

A: Supervisors regularly depend on models and intuition to make fast decisions. Intuitive decision…

Q: Differentiate the following terms - External and internal information

A: Internal data is information generated from within the business, covering areas such as operations,…

Q: Define agency problems,

A: Agency problems occur when the managers use the firm's resources to invest in projects that may not…

Q: Discuss the rules for linking events to resources and agents in an REA diagram.

A: REA Diagram: REA diagram is a technique which is used to establish the relationship between…

Q: Describe standards for comparisons in analysis.

A: Financial statement analysis: Financial statement analysis is a valuable measure for evaluating…

Q: explain the requirements for segment reporting, and calculate and interpret segmentratios;

A: Definition: Segment reporting: Segment reporting refers to the process of preparing accounting…

Q: Distinguish between entity relationship diagrams, data flow diagrams, and system flowcharts.

A: Transaction Process System:   Transaction process system can be defined as a system designed to…

Q: What is information system ? Elaborate and describe the details

A: Solution- Information systems-        AN system could be a collection of interconnected elements to…

Q: Discuss how the different between conceptual system and physical system and which function are…

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

Q: Define and explain the significance of the term CMA.

A: Certified Management Accountant (CMA): CMA stands for certified management accountant. CMA…

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: Define Hedging.

A: Hedging is the transfer of risk from a risky financial instrument to another instrument by buying or…

Q: Define agent

A: Introduction: An agent is a party that has oral or written authority to perform for another…

Q: Distinguish between association and cardinality.

A: Definition: Database management: Database management refers to the management of databases held…

Q: Ratios are an input into which step in the fi nancial statement analysis framework? A . Process…

A: The analysis of financial statements is the method of review for the decision-making of a firm's…

Q: Describe the connection between planning feedback, and controlling.

A: The management of the company is the main responsible for preparing the financial statements which…

Q: Can services be delivered by means of process operations? Support your answer with an example.

A: Process Costing: Process costing is a method of cost accounting in which all the costs that are…

Q: Define the term understand ability.

A: The financial information refers to the data related to the monetary transactions of the business.…

Q: Define simulation analysis

A: The Simulation Analysis is a method for analysis, wherein the infinite number of calculations are…

Q: Explain an example of external users.

A: Financial Statement:   They are annual reports of an organization summarizing the financial…

Q: Define benchmarking

A: Definition : Benchmarking can be understood as the method of contrasting company procedures and…

Q: Explain the objectives of FIFO method.

A: First-in-First-Out: In First-in-First-Out method, the costs of the initially purchased items are…

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: Describe attestation and attestation engagement.

A: Attestation is the process of getting financial statements or accounting information attested or…

Q: Distinguish between conceptual and physical systems.

A: Accounting Information System: The system which helps to gather, store and process the accounting…

Q: Define controller

A: The controller generally reports to the chief financial officer of the company. In small companies,…

Q: Explain the measurement attributes employed in GAAP.

A: The measurement attributes employed in GAAP are as follows: Historical Cost Net Realisable Value…

Q: Define the term attest function.

A:

Q: Define specific identification method

A: Define specific identification method?