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Question: Reply to student response in 150 words
1. Financial accounting deals with the organization as a whole, reporting to parties outside the organization, is highly regulated and primarily uses historical data, also uses GAAP.
2. Managerial accounting deals with responsibilities centered within the organization as well as with the organization as a whole, deals with activities inside an organization, is unregulated, use projections about the future
Financial accounting is mandatory as per the statutory requirement. Financial accounting is preferred, because legally every company is bound to disclose right and accurate information to the potential and existing investors.
Financial Statement Analysis and Preparation
Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.
This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
Prepare general journal entries for Goela Ltd
Prepare the journal entry to record the acquisition of the assets.
Prepare general journal entries to record the transactions, assuming use of the periodic inventory system
Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.
Explain the IASB Conceptual Framework's perspective of users and their decisions.
T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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