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How useful is accounting information?
No one would seriously claim that accounting information fully meets all of the needs of every various user groups. Accounting is still a developing subject and we still have much to learn about user requirements and the ways in which these needs must be met. Yet, information contained in accounting reports must help users make decisions relating to the business. Information must reduce uncertainty about financial position and performance of the business. It must help to answer questions concerning the availability of funds to pay owners a return, to repay loans, to reward employees and so on. Mainly, there is no close substitute for information provided by the financial statements. Hence, if users can't glean required information from the financial statements, it's often unavailable to them. Other sources of information concerning financial health of a business are generally much less useful.
Illustrations of Income statement Profit/Loss on disposal of non-current assets Material write down or reversal of write down on assets e.g. PPE inventory and debtors.
The only two countries in the world, Alpha and Omega, face the following production possibilities frontiers (all units measured in tons). Alpha's Production PossibilitiesFrontier
QUESTION 1: The Alpha Company Ltd was registered with Nominal Capital of 60,000 Equity shares of Rs.10 each. The following were the ledger balances on 31st March 2011.
Does a state have the authority to require a U.S.-based multinational corporation to compute its state taxable income on a worldwide combined reporting basis? What about a foreign-
Harry purchased equipment for his business and gave the seller cash and a note due in two years. Larry also purchased business equipment, but financed the transaction with a bank l
Various types of accounting changes can affect the financial statements of a business enterprise differently. Assume that the following list describes changes that have a material
gershwin coporation obtained afranchise fron sonic hedgeehog inc .for a cash payment of $ 120000 on april 1,2010 . the franchise grants gershwin the right to sell certain product a
What are the sailent features of branches
Open "Hoyle CPA: Earnings Per Share." Under "Free Questions" select "Financial Accounting & Reporting."
what managers should know about internal rate of return (IRR) and why?
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