Explain what accruals are and give an example. Explain what prepayments are and give an example.

Q: What are the responsibilities of an originator?

A: The originator's responsibilities are: Originator communicates with all borrowers of mortgage loans…

Q: Define the term Approval of payment requests?

A: The payment is an amount of money paid by the customer to the seller in exchange of goods and…

Q: Which among the following is a time-related attribute of good information? a. Order b. Brevity c.…

A: Introduction:- The following characteristics of quality information as follows:- Accuracy Relevance…

Q: Explain in detail, using examples where possible, the difference between hedging, speculation

A: In the world of finance and investments hedging and speculation are important concepts. Many…

Q: What does MYOB use the Historical Balancing account for?

A: MYOB: It is often defined as an international accounting software that is used by the businesses for…

Q: hat are the relationship between framing effect and mental accounting?

A: Mental Accounting: Mental accounting refers to the various values an individual places on the same…

Q: When do prepayments occur? Accruals?

A:

Q: What is an estoppel? Why is it used?

A: Estoppel is the legal principle which is helpful for any future contradiction. It means that…

Q: This focuses on what happens. a. Technical analysis b. Fundamental analysis c. Both fundamental and…

A: Technical analysis focus on the movement of the stock price and use that data to predict the future…

Q: What is a condition subsequent? Briefly explain with examples.

A: Condition subsequent: Condition subsequent refers to an event which bring an contract to an end…

Q: Ethics of accruals and deferrals.

A: Lets understand the meaning of accrual and deferrals. Accrual is a recording income and expense in…

Q: What does the intrinsic value formula look like? Please explain the components of the formula.

A: Intrinsic value or the real value is the calculated value or anticipated value of a company’s stock…

Q: Explain the principle of matching and realisation

A: Accounting principal or standards are the principles and rules that organizations should follow when…

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: what is a trial balance?

A: Trial balance is the summary of accounts, where their total debit and credit balances must be equal…

Q: What examples can be used for the client on the advantages of the accrual method?

A: Accrual basis accounting recognizes business revenue and matching expenses when they are…

Q: Define Correlation as a concept

A: Introduction: Usually for any two variables, the change in one variable allows us to forecast change…

Q: Define descriptive and inferential statistics.

A: Descriptive Statistics: Analysis of data that helps in describing, showing or summarizing data in a…

Q: Differentiate between applied and actual FOH with two examples, support your response with…

A: Overhead are those expenses which are not directly consumed to make a product or render service but…

Q: Describe about the Going concern assumption with example.

A: Accounting:   Accounting is the process of recording the financial transaction of the organization…

Q: What are the Effects of Prepayment Illustrated?

A: Prepayments are mainly related with mortgage backed securities & corporate bonds. MBS or…

Q: Define Simple interest.

A: Simple interest: The amount of interest computed on the principal amount for a time period at a…

Q: Explain the basic concept of ABC analysis.

A: Answer

Q: Define the term Force account?

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

Q: What is a trial balance?

A: A business wants to ensure that the proper posting of account balance from journal to ledger is…

Q: Define the term confirmatory value.

A:

Q: Name the assumption relates to the qualitative characteristic of timeliness? Explain it.

A: