Select three among the several accounting conventions

Reference no: EM13608179

1. Define the internal and external users of accounting data. What data would each group most likely want to review? Please provide examples of each user type.

2. Describe the role ethics plays in the operation of an accounting system. Include a couple of examples.

3. Select three among the several accounting conventions prescribed by law, regulators, and accounting organizations. For each selection, describe its purpose and provide an example (not from the textbooks) of how it would be applied to an accounting system.

4. Describe each of the three main financial statements-the end products of the work that takes place in an accounting system over a period of time-studied in the course. What does each statement present? Why is it important to prepare these? Who uses the information in the statements? Describe the interrelationship among the three statements.

5. Discuss the rules of debit and credit as applied to each of the account types that would appear on a company's balance sheet and income statement. Identify the normal balance for each account type and provide an example event for each. Analyzing business events requires the accountant to make several judgments about the facts contained in the event.

Reference no: EM13608179

Questions Cloud

If the company plans production based on contribution : balonglong company makes the following products product a product b product c sales price 6.00 10.00 7.50 variable

What is the radioactivity due to k-40 for a person weighing : the human body contains 0.20 natural potassium. k-40 represents 0.0117 of naturally occurring potassium. 1. what is the

On february 15 seacoft buys 7000 shares of kebo common : on february 15 seacoft buys 7000 shares of kebo common stock at 28.53 per share plus a brokerage fee of 400. the stock

If the initial kinetic energy of the electron is 105 ev and : an electron is fired directly toward the center of a large metal plate that has excess negative charge with surface

Select three among the several accounting conventions : 1. define the internal and external users of accounting data. what data would each group most likely want to review?

On april 1 the accounts receivable ledger of grider company : grider companys chart of accounts includes the following selected accounts101 cash 401 sales112 accounts receivable 414

Alamp r 147 an electric heater r 26 and a fan r 52 : a lamp r 147 an electric heater r 26 and a fan r 52 are connected in parallel across a 120 v line. a what total

The pima and southern railroad psrr is a small railroad : the pima and southern railroad psrr is a small railroad operating in rural arizona. it exists by carrying freight to

Calculate the number of radioactive nuclei in the sample at : a sample has a mass of m1g that contains 2 radioactive elements 20 of element one and 80 of element 2 with molar masses

User Account

All Pages