Whatever the companys transactions all relevant information should be reported?

Q: The principles and objectives that guide the creation of accounting information under accrual…

A: The matching principle, which is related to accrual accounting, asserts that an expense must be…

Q: What is concern of external users of accounting information in GAAP?

A: Accounting information includes all financial statements like Balance Sheet, Income statements and…

Q: A summary of the company’s significant accounting policies is a required disclosure. Why is this…

A: Disclosure of accounting policies: Disclosure of accounting policies means disclosing the accounting…

Q: When making business dec rarious sources of informa inancial statements. A comparison of the infor

A: Financial statements reflect various reports, and documents of a company that reflects its overall…

Q: Which function do accounting information systems provide in current accounting procedures

A: An accounting information system (AIS) constitutes of gathering, storage, and processing of…

Q: information would include ........ .

A: External users are people outsidebusiness entity who use accounting information.external users are…

Q: When fresh start accounting is utilized, how are a company’s assets and its liabilities reported?

A: Except for deferred income taxes, all liabilities at the same time reported as future cash payments…

Q: users of accounting information

A: The financial information is presented in the financial statement of the company that reflect the…

Q: How are changes in accounting policies accounted for and disclosed?

A: Accounting policy: These are basically the rules, conventions and principles that are applied by the…

Q: Why is a company's accounting cycle so important? It is necessary to provide instances of why…

A: The financial accounting cycle of a firm refers to the whole process of recording and processing the…

Q: How do companies use information from their accounting systems and statements?

A: Accounting systems and statements are often used to support management decisions. An income…

Q: a period for which accounting records of a business or a company is maintained

A: Answer is option a)  Accounting period

Q: analyze company disclosures of signifi cant accounting policies

A: Accounting principles are the principles that are framed by the Company to carry on the activities…

Q: Identify the following users of accounting information as either an (a) external or (b) internal…

A: External users of accounting information are users outside the organisation that use information for…

Q: What is meant by GAAP? Why should companies follow GAAP in reporting to external users?

A: Generally Accepted Accounting Principles (GAAP): Generally Accepted Accounting Principles are the…

Q: Identify which of the following characteristics will help the company in relating similar…

A: It is a qualitative characteristic of financial statement that it can compared inter and intra…

Q: which internal users need the accounting information

A: Accounting information data is the data that emerges from business exchanges. When distinguished,…

Q: When is a Form 8–K issued by a company? What specific information does a Form 8–K convey?

A: Form 8-K is issued by a company when there is something significant happening in the company. It is…

Q: how you will use accounting information both as an internal and an external user?

A: The accounting is a process to classify and record the business transactions and prepare the…

Q: plogically record a business's

A: To explain the record of business debit and credit transactions.

Q: Who are the users of accounting information?

A: Users of accounting information means the stakeholders that will use the accounting information for…

Q: Describe the ethics in accounting.

A: Accountants and the accountancy profession exist as a means of public service; the distinction which…

Q: Why accounting information elements that may affect by stakeholders

A: Accounting is the process of recording, classifying and summarizing accounting information in such a…

Q: From the internal parties that the system deals with Accounting information *

A: Basically internal information can be accessed only by the internal users of an organisation. People…

Q: Which principle or concept states that businesses should use the same accounting methods and…

A:

Q: Identify the following users of accounting information as either an (a) external or (b) internal…

A: External users of accounting information are those persons which are external to the organisation…

Q: W

A: According to AICPA, "accounting is an art of recording, classifying, summarizing in a significant…

Q: Identify the following users of accounting information as either an (a) external or (b) internal…

A: Internal users: Internal users of the financial statement are the inside individuals or the members…

Q: Describe about the external and internal events of the accounting.

A: An Accounting event is a transaction that is recorded in the books of accounts of the company. The…

Q: Why is accounting described as a service activity?

A: The activities that are carried out with a view to assist the organisation in the delivery and…

Q: accounting consept

A: Introduction Accounting Concept: Accounting concept refers to the fundamental assumptions,…

Q: Discuss the purpose balance sheet serve to the company discuss the characteristics that…

A: A balance sheet, which is popularly known as the statement of financial position is a statement,…

Q: what are the accounting standards codification and how companies apply them to their activities?

A: Accounting standard: It is a set of basic rules and principles which is set by the Financial…

Q: Which came first? Accounting regulations or the need for accounting regulations? Explain.

A: Accounting regulations are important part of accounting and regulation of accounting make accounting…

Q: Which of the following accounting principles prescribes that a company record its ex- penses…

A: Expense recognition principle says that all expense for the particular period should match with the…

Q: a) Discuss the related party disclosures required in the financial statements of Terrier plc only.…

A: Here discuss about the details of the related party information which are involved with the…