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: 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: what does measurement focus mean?

A: Accounting: It is the process of recording, classifying, summarizing all transactions of a business…

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: What is Remittances, use information in the text to support your claim.

A: Remittances derives from the word remit which means " to send back " . It is a sum of money sent by…

Q: What is a statement of circumstances?

A: The external auditor is expected to lodge a statement of circumstances at the company's registered…

Q: Define the term predictive value.

A: Predictive value refers to the fact that quality financial information can be used to base…

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: Describe the discounting process?

A: discounting is the process of determining the future value into present value, In discounting time…

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: 2. Equivalent Units or Material is calculated by 500,000 units Transferred Next Department…

A: Under process costing, units transferred to next process and ending work-in-process units are taken…

Q: Draw a figure to explain Elements of required return - establishing a MARR?

A: The figure is represented as below: Note: Values assumed

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: Can you explain the formula for computing APR?

A: APR stands for Annual Percentage Rate and denotes the annual rate of interest on a loan or an…

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: Explain what accruals and deferrals do and give examples of each.

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: Define interest.

A: Interest is the amount charged by the lender for the money lend for specific period.

Q: Describe about the Going concern assumption with example.

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