Various fields of accounting and how do they differ, Financial Accounting

Assignment Help:

1.what are the various fields of accounting and how do they differ?

2. how are revenues and expenses affect the owners' equity account?

3. why are revenues and expenses recorded separately from the owner's equity account?

4. are adjusting entries used in an accrual basis accounting system or in a cash basis accounting system? Why?

Related Discussions:- Various fields of accounting and how do they differ

Ias 1, Dillings Ltd is a wholesaler and distributor of catering of office e...

Dillings Ltd is a wholesaler and distributor of catering of office equipment. The following list of balances was extracted from its books at 31 March 2004: 1428_Prepare the Income

Redemption of debt, Q. Redemption of debt? Equity finance is permanent ...

Q. Redemption of debt? Equity finance is permanent capital that doesn't need to be redeemed while debt finance will need to be redeemed at some future date. Redeeming a huge am

Accounting objectives, Accounting objectives Accounting has two main ob...

Accounting objectives Accounting has two main objectives: To assist control over the assets and liabilities, and the income and expenditure of the enterprise; and To

Rate of return on a stock, Suppose that the risk-free rate is 7% and that t...

Suppose that the risk-free rate is 7% and that the market risk premium is 7%. What is the needed rate of return on a stock with a beta of 1.2? What is the needed rate of retu

Modern accounting techniques, 5 accounting techniques

5 accounting techniques

Which is not necessary in order for corporation to pay cash, Q. Which one o...

Q. Which one of the following is not necessary in order for a corporation to pay a cash dividend? a. Adequate cash b. Approval of stockholders c. Declaration of dividends by the bo

Is the emergency center a wise use of the hospital''s , Consider a not-for-...

Consider a not-for-profit hospital faced with a familiar choice: to open or not to open an emergency center in a new suburban hospital shopping mall. The mall's developers claim t

Internantional financial analysis, what is international financial analysis...

what is international financial analysis

Construct the market value balance sheet, Construct the Market Value Balanc...

Construct the Market Value Balance Sheet XYZ, Inc., another company founded by Larry Davidson in 2005, is currently entirely equity financed. That means the company carries no

Provable debts-bankruptcy and liquidation, PROVABLE DEBTS All debts and...

PROVABLE DEBTS All debts and liabilities present or future, certain or contingent, are provable in bankruptcy, except: 1) Claims for unliquidated damages in tort; 2) Debts

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages