Reference no: EM131301122
a. What are the objectives and uses of accounting and who are the users of accounting information? How is accounting related to other disciplines of business management?
b. Why accounting equation is fundamental to understand accounting. What are the three parts of accounting equation? Explain with few transactions as to how you
prepare an accounting equation?
c. Compare and contrast financial accounting, cost accounting and management
accounting. Also list down the decisions taken under each of them?
Case Study
a. Prepare a Income statement
Marketing Expenses 100,000
Opening Inventory 300,000
Depreciation 125,000
Closing inventory 250,000
Sales 3,500,000
Interest expenses 1,00,000
Lease rentals 89,000
Office Salaries 450,000
Purchase of materials 2,100,000
Research expenses 125,000
Repairs and Maintenance 35,000
Sales returns 125,000
income Tax 134,000
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Conduct a needs assessment
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What are the objectives and uses of accounting
: What are the objectives and uses of accounting and who are the users of accounting information? How is accounting related to other disciplines of business management?
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