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State the Accounting as an information system
We know that accounting can be seen as provision of a service to 'clients'. Another way of viewing accounting is as a part of business's total information system. Users, both outside and inside the business, have to make decisions concerning allocation of scarce economic resources. To make sure that these resources are efficiently allocated, users need economic information on which to base decisions. It's the role of accounting system to provide that information and this would involve information gathering and communication.
#questionWise Owls, an NFPO, began operations at the beginning of 20X1 to provide free tutoring and homework assistance, as well as a nutrition program, to low-income immigrant chi
Present Value of a Bond 1. Assume that you wish to purchase a 20 year bond that has a maturity value of $1,000 and makes semiannual interest payments of $40. If you require a
what are the types and objectives of international accounting standersds?
Q. Standards for Accounting and Review Services? Statements on Standards for Accounting and Review Services (SSARS) - Statements issued by AMERICAN INSTITUTE OF CERTIFIED PUBLI
Q. Explain the Negative Assurance? Negative Assurance - Report issued by an ACCOUNTANT based on limited procedures which states that nothing has come to accountant's attention
Calculating Present Value [LO1] An investment will pay you $43,000 in 10 years. If the appropriate discount rate is 7 percent compounded daily, what is the present value?
how to record items on this account
When a company sells a product for cash, it generally recognize the revenue. However, there are situations when it is not always clear when a company should recognize the revenue.
How to determine the depreciation To determine depreciation in straight-line method, take cost of the asset, less the trade-in value, and divide by the estimated years of usefu
On December 31, 2010, the stockholders' equity section of Arndt, Inc., was as follows: Common stock, par value $10; authorized 30,000 shares; issued and outstanding 9,000 shares $
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