themselves cannot be significantly disaggregated. I don’t think if the phenomenon of technological innovation can become a stumbling block in prosperity of management accounting since through innovation management accounting discipline and career have been significantly improved. These areas are as follows The Information Revolution: in early years it was cost fully to collect‚ analyses and store accounting information. This was because of inadequacy of infrastructures which were importantly
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Abstract The purpose of this essay is to illustrate the complexity meanings of financial reporting reflect the reality and it can be the creator of social reality. Financial reporting should have an objective “truth” and “fair” view and prepare a faithful presentation for shareholders to deal with the investment. Accounting theory need to continuous change its standards or models in order to meet the future needs. This easy also discuss this statement which relate to the sustainability issues
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Question: 01 What are the three types of activities reported in cash flow statements? Explain. Answer: The statement of Cash Flow is one of the basic financial statements for a business. It reports a company’s major cash income and outflow for a period. Cash flows are classified as operating‚ investing‚ or financing activities on the statement of cash flows‚ depending on the nature of the transaction. Cash Flows from Operating
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Ethical Dimensions of Financial Accounting with Respect to the Keeping of Two Sets of Records. Ateneo Graduate School of Business Managerial Accounting Assignment 1 Submitted to: TSMANACC By AR2012 Financial accounting serves to provide useful financial information to help stakeholders make economic decisions through financial reports. There are various stakeholders that use financial reports to promote their varying interests. Among the various stakeholders with varying
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Module 6 Reporting and Analyzing Operating Assets QUESTIONS Q6-1. When a company increases its allowance for uncollectible accounts‚ it also records bad debt expense in the income statement. If a company overestimates the allowance account‚ bad debt expense is too high and net income is understated. As well‚ accounts receivable (net of the allowance account) and total assets are both understated on the balance sheet. In future periods‚ the company will not need to add as much to its allowance
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1. The accounting process involves all of the following except a. identifying economic transactions that are relevant to the business. b. communicating financial information to users by preparing financial reports. c. recording nonquantifiable economic events. d. analyzing and interpreting financial reports. 2. Financial accounting provides economic and financial information for all of the following except a. creditors. b. investors. c. managers. d. other external users. 3.
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Accounting plays an important role in the life of organizations. There are several types of accounting such as financial‚ management and governmental accounting‚ taxation‚ audit. These types are usually focusing on different types of users that are interested in different types of information. In this essay I will examine the differences between financial accounting and management accounting. The basic difference between financial and management accounting is their target group. Management accounting
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1.Managerial accounting vs financial accounting Managerial accounting information system is an information system that produces outputs using inputs and processes needed to satisfy specific managerial objectives. How do management accounting and financial accounting differ? Management Accounting Financial Accounting 1. Internally focused
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Business Administration- MBA Semester 1 MB0041 – Financial And Management Accounting - 4 Credits (Book ID: B1624) Assignment Set - 1 (60 Marks) Note: Each question carries 10 Marks. Answer all the questions. 1. Explain the process involved in accounting. 2. The salaries paid in 2004 is Rs. 5‚00‚000; Salaries outstanding is Rs. 20‚000; Salaries paid in advance for 2004 is Rs. 30‚000. What is the actual salary expenditure for 2004? Which accounting principle is involved in this and explain that
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Section-A 1. Discuss management accounting as an effective tool of financial control. 2. What do you mean by cash from operating activities? How is it calculated? 3. The “volume-cost-profit relationship provides management with a simplified framework for organizing its thinking on a number of problems.” Discuss 4. Recently a conference speaker discussing budgets & standard costs made the following statement- “Budgets & standard costs are not the same things‚ they have different purposes
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