Q: discuss in brief the different accounting branches with their major objectives
A: Introduction:- Branches of accounting classified into more than 10 types but The following three…
Q: Explain the difference between management accounting and financial accounting.
A: ANSWER : Basis of difference Management accounting Financial accounting 1. Meaning…
Q: Explain the purpose of financial and management accounting within your chosen organisation. Within…
A: In any organization, Purpose of Management accounting is to provide useful information for internal…
Q: The accounting process generates financial reports forboth internal and external users. Describe…
A:
Q: Describe accounting's internal function in organisations.
A: Introduction: Accounting is transmitting financial data to users such as investors, individuals, and…
Q: Explain the purpose of financial and management accounting within an organisation. provide an…
A: Managerial accounting: Managerial accounting is a system, or a process of gathering and organizing,…
Q: Give an example of how financial statements can be used internally by themanagers of a company.
A: Answer: Financing statements help companies to understand the financial health and are used for…
Q: Financial statements are an important element of any organization. Discuss their significance and…
A: Financial statements give a detailed picture of a company's financial situation at a specific period…
Q: Who is in charge of financial accounting and who is in charge of management accounting?
A: The Answer
Q: What is the basic difference in orientation between financial and management accounting?
A: Introduction: Accounting: Accounting is an art of recording , classifying , summarizing and…
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: What is financial reporting and write the types of reports prepared in business organisation?
A: Financial reports are the reports that to be made available to the stakeholders/public by providing…
Q: Discuss the two main branches of accounting and explain the differences between financial accounting…
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Q: Suppose you are tasked to construct and evaluate complex financial statements, including those…
A: SASB standards are those standards which provide information in relation to the corporate…
Q: Financial accounting is the primary source of information needed for decisio making, planning, and…
A: Note: As per the Policy,We’ll answer the first question since the exact one wasn’t specified. Please…
Q: Explain the purpose of financial and management accounting within an organisation. Within your…
A: Managerial accounting: Managerial accounting is a system, or a process of collecting and organizing,…
Q: differentiate between financial accounting and management accounting
A: Accounting is the process of record of financial data with sorting, storing , retrieving,…
Q: What are the factors that accountants should consider when setting up company accounting policy…
A: The assets are the items in the balance sheet of the company that will generate the future economic…
Q: How do an organization's business activities and lines of business impact the process of designing…
A: Answer: Solution Concept Accounting information system The term accounting information…
Q: What is the role of the accounting function in an organization?
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Q: What impact do a company's activities and business sectors have on the accounting information system…
A: Accounting in the modern environment is done with the help of computers. As businesses are expanding…
Q: Management accounting focuses primarily on providing data for: Oa. internal uses by managers Ob.…
A: There are different types of accounting such as financial accounting, management accounting, cost…
Q: What is the purpose of accounting in an organization?
A: Income Statement: The income statement helps an organisation understand the amounts of revenues…
Q: Compare and contrast financial and managerial accounting. In your own words
A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…
Q: Accounting independence in accounting information system is important. Discuss using examples.
A: Accounting Information System: A system which collects, stores and gathers information about…
Q: What is meant by "financial accounting" and "management accounting"? What is the difference between…
A: Financial Accounting: It is collection of accounting data to create financial statements. It…
Q: measuring, analyzing, and communicating financial nformation needed by management to plan, evaluate,…
A: Reasons along with answers are given below.
Q: Financial accounting is the primary source of information needed for decision- making, planning, and…
A: There are several fields or branches of accounting in practice. One of them is financial accounting.…
Q: Accounting is an information and measurement system that identifies, records and communicates an…
A: Accounting are often outlined because the method of recording, classifying, summarising the money…
Q: Distinguish Financial accounting from Management Accounting
A: Accounting is the process of recording financial transactions that are material to the business. It…
Q: Discuss the terms relevance and faithful representation as they relate to financial accounting…
A: Financial accounting: It can be defined as the branch of accounting that is associated with the…
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: Financial accounting is the primary source of information needed for decisio making, planning, and…
A: Note: As per our guidelines, we will answer the first question for you. Q1. The income statement…
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: Briefly explain the overall objective of a financial manager. Include in your response any one of…
A: The overall objective of a financial manager is: Profit maximization Wealth maximization Creating…
Q: Emphasize the role of the financial manager and his or her responsibilities.
A: The financial manager and his or her responsibilities:
Q: Describe the internal role of accounting for organizations.
A: Accounting refers to the method of communicating financial information to users such as investors,…
Q: Explain how accounting is used to track and monitor the principal business activities of an…
A: Accounting: Accounting can be defined as the process of identifying, classifying and recording the…
Q: Compare ways in which organisations could use management accounting to respond to financial…
A: Identifying financial issues: using budgetary targets, key performance indicators (non-financial and…
Q: Discuss the factors that accountants should consider when setting up company accounting policy…
A: Accounting Policy- Accounting policies are the specific principles, foundations, conventions, rules,…
Q: How do an organization's business processes and lines of business affect the design of its…
A: AIS stands for Accounting information system is defined as the business structure that uses to…
Q: Financial Statements
A: Management reports are the reports that contain the data related to the performance of the company…
Q: An organization needs to keep flow of information with various internal and external parties.…
A: Accounting is defined as the procedure for recording, interpreting as well as summarizing the…
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- Explain how an organisation uses management accounting practices.Explain the importance of accounting information for internal parties—primarily management—in terms of the objectives and the characteristics of that information.Explain the purpose of financial and management accounting within an organisation. provide an outline of the needs of different business stakeholders in relation to this information
- Discuss the key factors that should be considered when designing a management accounting system.Which of the following adequately describes Management Accounting? It is the process of identifying, measuring and: a. analysing financial information b. accumulating information developed for external users c. analysing information d. accumulating information developed for managersExplain the purpose of financial and management accounting within an organisation. Within your answer you must provide an outline of the needs of different business stakeholders in relation to this information.
- What is management accounting information used for? taking exampleExplain the purpose of financial and management accounting within your chosen organisation. Within your answer you must provide an outline of the needs of different business stakeholders in relation to this information.Discuss the relationship between Management Accounting and Financial Accounting
- Explain and give example of the following Management Reports Procedures Activities: Financial StatementsWhich among the following is concerned with Management Accounting? a. Preparation of financial statements b. Book keeping c. Providing useful information for strategic planning d. Taking decisionsAnalyze the integration of management accounting reporting into the organization's operations.