How do you think the miss statement of fines will impact the important statement and balance sheet.

Q: What is residual value or salvage value? Why and how is it calculated in accounting?

A: The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage…

Q: How do you view goodwill on the balance sheet - specifically, if certain levels of it would cause…

A: 1.) I see the goodwill on the balance sheet as synergies , which was estimated at the time of the…

Q: Outline the measures used to describe possible loss accurately?

A: The success of a business depends on how accurately they predict future profit or loss arriving…

Q: what are the Benefits and Costs of Delinquency In the field of lending

A: Whenever a customer does not meet their obligation, a cost aries as the payment on the credit sales…

Q: Examine some of the limitations of financial statements and suggest ways to overcome them.

A: Financial Statements are organised summaries of detailed information about financial position and…

Q: mptions that need to be considered while preparing  a financial statement.

A: Financial statements are formal records of a company's, individual's, or other entity's financial…

Q: What is meant by a ‘statement of affairs’? How can the profit or loss of atrader be ascertained with…

A: What is meant by a ‘statement of affairs’?    It refers to a statement of assets and liabilities of…

Q: AAP should require fair value measurement of either more o

A: A fair value measurement is used to determine the worth of a certain asset or liability. As a…

Q: What is the difference between experience versus assets with an example?

A: Experience and assets are both important components of an individual or organization, but they have…

Q: Why does balance of payments contain an account called statistical discrepancy?

A: The equilibrium of installments (BOP), otherwise referred to as equilibrium of worldwide…

Q: What element should be assessed when considering the quality of profit and loss and balance sheet.

A: The elements are as follows: Leverage is a measurement of the business's ability to meet long-term…

Q: What is the auditor’s role with respect to the fixed asset system?

A: Definition: Fixed Assets: It refers to the long-term assets having a useful life of more than a year…

Q: advantages of taking amount (measurement bases)

A: Measurement bases are bases at which elements of financial statements are recognized.

Q: What are the impacts on your financial statement if you account the transactions not accurately

A: Financial Reporting refers to the recording of the financial transactions of a company for a desired…

Q: Do you think that credit policy decisions are made more on thebasis of numerical analyses or on…

A: Providing credit will positively expand deals or sales income which would be useful for the business…

Q: he profit and loss account's negative balance should b

A: One of a firm's business accounts, an income statement, also known as a profit and loss account,…

Q: What are the different risks associated in the accounting of inventories?

A: Answer: Inventories are the current assets of the company which are realizable within 12 months from…

Q: what basic criteria are commonly used in evaluating credit risk?

A: Credit risk is the risk of facing a loss due to a counterpart's failure to repay the debt in part or…

Q: Which one of the following is not a type of measure used in the Balance scorecard?

A: The business organizations has employees in their various departments and on different level…

Q: How will the approach for verifying repair expense differfrom that used to audit depreciation…

A: Auditing:   In auditing, auditors verify the correctness and fair presentation of financial…

Q: What is the primary purpose of analyzing interest expense? Giventhis purpose, what primary…

A: Interest: Interest is the amount of interest paid on the issue price of the notes by the issuer at…

Q: Describe the difference between rules-based and principles- based financial statements.  Which do…

A: SOLUTION ACCOUNTING IS THE SYSTEM OF RECORDING SUMMARIZING BUSINESS AND FINANCIAL TRANSACTIONS AND…

Q: How can the quality of financial statements be compromised? Discuss fully and explain, giving a…

A: Financial statements are documents that provide valuable insight into the financial health of a…

Q: at is regular underw

A: Regular Underwriting is the method through that a private or establishment takes on…

Q: How are accounting judgments regarding internally generated intangible influenced by accountants’…

A: Step 1: Accounting judgement is the sharing of the judgements or sharing of knowledge and…

Q: What is more important for asset valuation? Cash flow or accounting profit? Please fully explain the…

A: Introduction:- Any resource that a business or economic organisation owns or controls is referred to…

Q: What makes an account significant or an assertion relevant?

A: Significant Account  An account is said to be significant when there is a chance that the account…

Q: Common examples of financial abuse include:?

A: Financial abuse typically involves a family member or another person whom the older adult trusts…

Q: Why might disinflation prove favorable to financial assets?

A: Disinflation is the reduction or lowering of the pace of inflation. In other words in situation of…

Q: As to why financial statements of the same size might be advantageous. How do they vary from…

A: Here is the Answer :

Q: Identify if the following financial inputs are relevant or irrelevant and motivate why you have…

A: In financial decision making, relevant costs are costs that will be affected by the decision at…

Q: iscuss the role of a receiver. How does the role of a receiver differ from that of the administrator…

A: Step 1 An  Receiver is appointed  by the Insolvency Service Board  on the orders of  court to act in…

Q: IASB requires the use of _____ as a measurement basis. a. historical cost b. not given c. current…

A: Introduction:- The International Accounting Standards Board (IASB) issued Framework for the…

Q: When it comes to financial instruments, what distinguishes one from another? Please give us a…

A: Introduction: The money market is the market in which buyers and sellers engage to buy and sell…

Contingent Liabilities and Provisions

A contingent liability can be defined as a liability the occurrence of which is dependent upon the happening of an uncertain future event. It is generally recorded in the books only when the amount of liability can be reasonably estimated and the contingency is likely to occur shortly.