Accounting deals with

Q: Q8. Which of the following statements about users of accounting information is correct? Present…

A: Accounting information is generally prepared for the users or stakeholders of the organisation.…

Q: 1. Define the term accounting and explain the importance of accounting in a business.

A: Hi Student, since there are multiple question so we will answer only 1st question, if you want…

Q: 1. Which of the following does not describe accounting?a. Language of business.b. Is an end rather…

A: Accounting: It refers to a process of recording and summarizing the financial transactions and…

Q: plain what’s manage define accounting and describe nature and objective of accounting.

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: ow is accounting information used in busi

A: Accounting is the combination of various steps like recording, analyzing, summarizing, and…

Q: - The two main sets of accounting standards followed by businesses are GAAP and IFRS. Briefly…

A: GAAP refers to the Generally Accepted Accounting Principles. It is a set of guidelines which are set…

Q: Elaborate why accounting is the language of business.

A: Accounting is a method through which business entity communicates its figures to its stakeholders.

Q: The system which is used for collecting data of accounting transactions, recording, organizing, and…

A: The accounting information system is used to collecting data of accounting transactions, recording,…

Q: 6. The new term to describe the statement containing the profit or loss items tog other…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: "identifying accounting principles and assumptions C4 Enter the letter A through H for the principle…

A: General accepted accounting principles means those set of standards which is followed while…

Q: 1. Accounting being regarded as the performance of specific actions such as identifying, measuring,…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Why is accounting called the language of business? Support with example

A: Accounting is often called the “Language of business.” It is a means of communicating information…

Q: Part A: Assets and liabilities are important elements of a company's financial position I. II.…

A: Assets means the resources which is owned by business. Liability means the amount which is to be…

Q: Explain how accounting is treated as the language of business. Cite a concrete example.

A: Meaning of Accounting Accounting is the systematic recording of the day to day transactions of a…

Q: 1. Discuss accounting as the language of business and the role of accounting information in making…

A: Accounting can be referred as language of the business, as the financial statements of the firm…

Q: In yesteryear's accounting world, what role does an Accounting Information System

A: Accounting information system (AIS) is a collective mechanism wherein information or data related to…

Q: 4. Using Full PFRS instead of SME’s PFRS in a business supposed to used SME’s PFRS was there a…

A: By using full PFRS instead of SME’s PFRS in business support to used SME’s PFRS considers as a…

Q: An explanation of the accounting role of a business. What is the purpose of the function, and why is…

A: Accounting is the discipline of recording and reporting on a company's financial transactions and…

Q: Examine the purpose of the accounting function within an organization.

A: Accounting is the art and science of identifying, recording, classifying, summarising, and…

Q: Th e collection of all business transactions sorted by account in an accounting system is referred…

A: Financial Accounting Financial accounting is that branch of accounting which is associated with…

Q: ) Describe the advantages and disadvantages of these two approaches to accounting standards setting,…

A: Accounting standards are those standards which state the guidelines, rules and regulations which is…

Q: How Business Analytics is used in the Accounting

A: Accounting's goals include keeping a systematic record of all financial transactions in a book of…

Q: 1. Name some users of accounting information. A group of users can be Business owners, managers,…

A: There are many stakeholders who use accounting information in their decision-making process. The…

Q: 1. IDENTIFYING AND ANALYZING business documents or transaction

A: Business documents are the various documents based on which the transactions are recorded in the…

Q: 2. Explain why companies must follow accounting standards in presenting financial statements.

A: Accounting standards considered to be common set of standards. These are common set of procedures…

Q: 2. Who are users of accounting information, what are its types? Explain with examples.

A: PLEASE LIKE THE ANSWER, YOUR RESPONSE MATTERS    “Since you have asked multiple questions, we will…

Q: Match each business activity with its description.Define accountingBusiness Activities Descriptions…

A: The three types of activity are discussed below , 1. Operating Activity:- It deals with revenue and…

Q: Identify each of the following terms/phrases as either an accounting (a) principle, (b) assumption,…

A: Principles are the rule made for every business.

Q: What is the function of accounting information systems in today's accounting practise

A: Accounting Information System (AIS) is a concept. Generally speaking, an accounting information…

Q: The reporting of accounting theory is related to ........ Select one : a . Principles b .…

A: Accounting refers to the process of systematic recording of the transactions of the business. Such a…

Q: Can every business transaction no matter how simple or complex be expressed in terms of its effect…

A: Financial Accounting:   It refers to the process of recording the financial transactions of the…

Q: Match the transaction to the basis of accounting used by the business

A: Accounting: Accounting is the method of recording money transactions relating a business. The…

Q: Explain in detail what the accounting cycle is and why it is important.

A: Accounting is the process of identifying, recording, classifying, summarising and analysing…

Q: The purpose of financial accounting is: a. Future oriented b. Communicating company position to…

A: The purposes of financial accounting is to provide information about company's performance to its…

Q: Explain the accounting function of a business. What is the purpose of this function, and why is it…

A: Accounting responsibilities: Accounting functions may be divided into two categories: managerial…

Q: Explain the following: 1. Development of accounting rules. 2. How Generally Accepted Accounting…

A: Here discuss about the details of development in the Accounting rules which are incurred in the late…