The corporate disclosure practice will help all the stakeholders to understand and measure business operation.

Select the best answer for each statement. Revenue is recorded when products and services are Choose. delivered. Each business is accounted for separately from its owner Choose. or owners. Financial statements reflect the assumption that the business continues operating. Choose. A company reports details behind financial statements Choose. that would impact users' decisions. Concepts, assumptions, and guidelines for preparing Choose. financial statements.

Divide into groups as instructed by your professor and discuss the following:a. How does the description of accounting as the “language of business” relate to accounting asbeing useful for investors and creditors?b. Explain how the decisions you would make might differ if you were an external investor or amember of an enterprise’s management team.

Explain how, as a financial manager, you would use financial ratios in daily operations to ensure the success of the organization. (1 Paragraph)

Which of the following statements about accounting information is TRUE? Select answer from the options below Accounting communicates financial information about a business to both internal and external users. Accounting information is useful to external users such as the directors of a company. Accounting information is useful to internal users such as labour unions. Accounting communicates detailed financial information to the competition.

How can the enhancing characteristic comparability (consistency) be improved in high-quality accounting information? Do not simply repeat what it is, provide suggestions as to how a particular part of the enhancing characteristic could be improved. Please provide different answers and explanations than copy and pasting: “Accounting information is comparable, if -it is with consistent accounting standards and policies applied throughout each accounting period, enables users to draw insightful conclusions about the trends and performance of the company over time.”

Financial reporting: Multiple Choice O is designed primarily to meet the needs of banks, taxing authorities, and other Governmental regulatory bodies such as the SEC. O is future oriented in nature, with detailed disclosures about a company's operating plans to allow investors to make accurate earnings projections. is designed primarily for internal planning, control, and decision-making purposes. includes detailed notes and other disclosures about a company's past performance.

A business will construct its financial statements in a particular order because they are interrelated. This means that items formulated in an earlier statement feed into the subsequent statements, and changes to items on one financial statement can have compounding effects on the overall financial position of a company. 1. Which of the following is one reason the statement of owner's equity is prepared after the income statement? 2. Which of the following is one reason the statement of owner's equity is prepared before the balance sheet?

2. Multiple choices, please choose one of the correct choices 1) Which one of the following statements is not true? a) Financial accounting reports are used by investors to make investment decisions while cost and management accounting reports are used by managers to make business decisions. b) Financial accounting summarizes accounting transactions while cost and management accounting presents a detailed analysis of costs, selling prices and any other information required by an entity's management.< c) Financial accounting reports report on what has happened while management accounting reports focus on current activity and future projections. d) Financial accounting reports have an internal user focus while management accounting reports are focused on external users of accounting information.< 2) What kind of cost does the table represent? Output Cost 5,000.00 12,000.00 a) Semi-variable Cost b) Fixed Cost c) Variable Cost 30,000.00 55,000.00 90,000.00 ✔ e A 3) The form and content of…

The following describes Financial Statements, except; * It is an art of recording, classifying, summarizing and interpreting of accounting transaction. A collection of summary-level reports about an organization's financial results which consists of four major financial reports. Financial information which is communicated by an enterprise to external parties Historical in nature but it all depends on management's judgement The objective of financial statement is to * know the financial status of the organization, whether the business is making profit or running at loss, and what corrective action to be taken. form a Private Finance Initiative (PFI) establishment. use accounting techniques such as marginal costing budgetary controls and standard costing. finance hire purchase.