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What is accounting?
Accounting is concerned with analysing, collecting as well as communicating financial information. Purpose is to help people who use this info to make more informed decisions. If financial information which is communicated isn't capable of improving the quality of decisions made, there would be no point in producing it. Sometimes impression is given that purpose of accounting is basically to prepare financial reports consistently. Though it's true that accountants undertake this kind of work, it doesn't signify an end in itself. Ultimate purpose of the accountant's work is to give people better financial information on which to base their decisions.
Write down what processes and data you would analyse when looking at the following scenarios and write down any improvements you could include to ensure that the problem would be l
1. Describe the approach Zetar Plc uses to determine goodwill impairment losses. How does this approach differ from US GAAP? 2. Zetar Plc does not report any research and develo
Disclaimer The liquidator may disclaim onerous property consisting of: 1. Land burdened with onerous covenants; 2. Stocks and shares; 3. Unprofitable contracts, or 4.
THE INCOME STATEMENT It shows the financial performance of the company during the given financial period. It discloses the income and expenses and thus the net profit for the per
Find the annual reports of the acquiring firm and answer the following questions for the five years before merger took place I) What information is provided about merger a
The Operating Cycle Two Wheeler Cycle Shop buys all of its bikes from one manufacturer, Baxter Bikes. On average, bikes are on hand for 45 days before Two Wheeler sells them. The c
1. When preparing the operating activities section of the statement of cash flows using the indirect method, a decrease in accounts recievable is subtracted from net income. True o
Can you do the attacched quections by Monday?
Let us assume that you deposit Rs.1000 in a bank that pays 10 percent interest compounded yearly for a period of 3 years. The deposit will grow as given details: Fir
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