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Weighing up the costs and benefits
You may feel that, when considering a piece of accounting information, provided four main qualities identified are present and it's material it must be gathered and made available to users. Unfortunately, there is one more hurdle to jump. Something may still exclude a piece of accounting information from the reports even when it is considered to be useful.
Theoretically, a particular item of accounting information must only be produced if costs of providing it are less than benefits, or value, to be derived from its use. Figure demonstrates relationship between the costs and value of providing extra accounting information.
Figure: Relationship between costs and the value of providing additional accounting information
in bank reconciliation statement what are the statement to be reconcile
What would be the effect on the balance sheet if adjustments (a) and (f) were omitted at the end of the year?k question #Minimum 100 words accepted#
Create a Trial Balance and Income Statement Cash $18,470 A/R 14,333 A
Fund flow Math problem and solution.
QUESTION 4: Spanking Clean (Ltd) operate a number of car washes and auto valet services. The company has experienced a reasonable trading year. They are deciding whether to pay ou
PROTECTION AGAINST CLAIMS The trustees may protect themselves against claims after discharge in the following ways: 1. As regards liability for rent and other obligations und
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Data for 2013 were as follows: PBO, January 1, $244,000 and December 31, $274,000; pension plan assets (fair value) January 1, $190,000, and December 31, $233,000. The projected be
A business had always made a provision for doubtful debts at the rate of 5% of debtors. On 1 January 2017 the provision for doubtful debts brought forward from the previous year wa
Horton Co. was organized on January 2, 2010, with 500,000 authorized shares of $10 par value common stock. During 2010, Horton had the following capital transactions: January 5-iss
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