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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.
Assets 1) The classification of investments in the Balance Sheet will be under a few broad headings with schedules listing the individual assets. Where the Trustees Act has been
Enumerate the scope and utility of management accounting.
Consider two individuals with endowments of 60 hours per week of leisure, nonlabour income of $Y per week, and a wage of $7.50. At this wage assume that workers are constrained by
1. Finco is a wholly owned Finnish manufacturing subsidiary of Winco, a domestic corporation that manufactures and markets residential window products throughout the world. Winco h
A village ordered supplies for its Fire Department at an estimated cost of $16,700. The supplies were received with an invoice for $16,800. The village accepted the shipment and th
conduct a-what-if-analysis
Disclaimer The liquidator may disclaim onerous property consisting of: 1. Land burdened with onerous covenants; 2. Stocks and shares; 3. Unprofitable contracts, or 4.
Voluntary settlements The trustee can claim all property settled by the bankrupt on other persons within two years preceding the bankruptcy unless made: a. Before and in consi
Realisation of assets 1. Divisible property : The ownership of the company's property does not vest in the liquidator (unless the court makes a vesting order: s.240); but
Activity Cost Drivers An element of measurement for the stage (or quantity) of an activity that is performed within a business company. Hence, a movement cost driver represen
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