What do you understand by an economic entity

Assignment Help Financial Accounting
Reference no: EM13513191

The role of an Accountant within an economic entity is vital and cannot be brushed aside, as he produces the Financial Statements to meet the requirements of various users.

(a) What do you understand by an economic entity?? Give relevant examples.

(b) List FOUR important roles of an accountant within an economic entity.

List THREE characteristics each of Financial Statements as to the contents and presentation of information therein.

Reference no: EM13513191

Questions Cloud

Define the standard enthalpy of formation of gaseous water : The standard enthalpy of formation of gaseous water is -241.82 kj/mol at 298 K. Estimate this value at 370 K. The molar heat capacities of hydrogen, oxygen, and gaseous water are 28.82, 29.36, and 33.58 J/(K x mol).
Define the conversion factor is in the numerator : When you convert units, how do you decide which part of the conversion factor is in the numerator and which is in the denominator
What is the speed of the block after the bullet exits : A 3.1kg block of wood sits on a table. A 3.0g bullet, fired horizontally at a speed of 370m/s, What is the speed of the block immediately after the bullet exits
Explain the molar enthalpies of neutralization : How would you compare the molar enthalpies of neutralization for a monoprotic acid, a diprotic acid, and a triprotic acid? Write the balanced chemical equations and include molar enthalpy values of each chemical reaction to support your conclusion..
What do you understand by an economic entity : What do you understand by an economic entity Give relevant examples - list FOUR important roles of an accountant within an economic entity.
Voluntary withdrawal is a concern in most organizations : A. Voluntary withdrawal is a concern in most organizations. What makes people unhappy enough to leave their job? How can managers see this coming and work to keep the productive employee?
Prepare the closing entries for the above accounts : Sales Discounts $3,600, Cost of Goods Sold $110,000, Rental Revenue $6,000, Freight-out $1,800, Rent Expense $8,800, and Salaries and Wages Expense $22,000. Prepare the closing entries for the above accounts.
Find how long should you sustain the firing of retro-rocket : You are piloting a spacecraft whose total mass is 1150 kg and attempting to dock with a space station in deep space. Assume for simplicity that the station is stationary, that your spacecraft is moving at 1.15 m/s toward the station, How long shou..
Expecting to be the outcome of their ritual practices : The Article ”In John They Trust” describes a cargo cult in Melanesia. How did such religious practices come about and what is it that people are expecting to be the outcome of their ritual practices? Do we do any thing similar?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

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

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.

  Financial accounting assignment

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

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

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 frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

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

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd