Briefly explain what is meant by transaction analysis. Whatare the two principles underlying transaction analysis?

Q: Explain in detail and also give example. Business Entity concept

A: Accounting concepts: Accounting concepts laid the foundation for recording all the financial…

Q: Why transactions is complex?

A: The transaction is referred to the complete agreement, which is between the purchaser as well as the…

Q: Why is accounting a service activity and also a process or system?

A: Accounting is adopted by every business irrespective of its nature.

Q: What is tally accounting, and how does it work?

A: Tally is an accounting program that lets you track and manage all of your accounts, sales, debts,…

Q: s an information syste

A: Accounting Information Systems helps to perform the tasks in the job of Budget Analysis. An…

Q: Analyze the effects of transactions on the accounting equation

A: Accounting equation:   Accounting equation is an accounting tool expressed in the form of equation,…

Q: What is the importance of recording business transaction?

A: Business Transactions are the transactions carried out in the business in the financial year. It…

Q: What two different accounting equalities must be maintained in transaction analysis?

A: In transaction analysis, accounting equalities are:  Assets = Laibilities + Shareholders Equity…

Q: a) Explain the many objectives of accounting.

A: Disclaimer: “Since you have asked multiple question, we will solve the first question for you. If…

Q: What is a computerized accounting system? Write its advantages and disadvantages?

A: Computerized Accounting System It is a system where accounting Transactions are recorded using a…

Q: How are the three transaction cycle relate to each other?

A: Transaction Cycle is grouping of similar functions of business together under same head. Transaction…

Q: What are the three cycles of transaction processing systems?

A:

Q: What purpose is served by the output devices of an accounting system?

A: Output devices: Output devices help in taking the information out of the system and provide it to…

Q: What are management’s responsibilities related to maintaining a transaction trail?

A: A transaction tail defines the sequence of evidences which helps in reconstruction of transaction…

Q: How to create journalizing transaction with this kind of problem?

A: Journal entries recording is the initial step in accounting cycle process. Under this, atleast one…

Q: Match each transaction with its related term: Terms Definitions

A: Adjusting entries: Adjusting entries are those entries which are recorded at the end of the year, to…

Q: Which is better and accurate; manual or * ?computerized accounting system and why

A: Manual accounting system involves physical registers, books of accounts and vouchers for recording…

Q: Describe what is meant by transaction analysis.

A: Accounting Equation: Accounting equation is the mathematical representation of the relationship…

Q: What are the three elements that distinguish structured and unstructured problems? Give an example…

A: Transaction Process System: Transaction process system can be defined as a system designed to…

Q: Show the effect of the following transactions

A:

Q: Describe the process of transaction analysis.

A: Process of Transaction analysis: The process of transaction analysis involves the selection of…

Q: Discuss transaction cycles.

A: A transaction cycle is an interlocking set of the  business deals. Utmost of these deals can be…

Q: How are the three transaction cyles relate to each other?

A: All type of business whether it is profit or non-profit organization has three types of transaction…

Q: What is business entity concept?

A: PLEASE GIVE A LIKE   .    It is a concept of accounting which refers to the transactions taking…

Q: Explain and distinguish the difference between a transaction, an event and an arrangement.

A: The accounting equation is expressed in the form al an equation, that is, an asset must be equal to…

Q: important to manage transaction exposure

A: The RISK - posed by firms participating in international commerce that currency exchange rates will…

Q: Each external transaction will have a dual effect on the accounting equation. Explain what this…

A:

Q: Which of the following options best describes TVU's accounting information system (AIS)? Select one:

A: The answer for the multiple choice question and relevant explanation are presented hereunder :…

Q: What different accounting transaction process needs a data warehouse? Why?

A: Accounting Information system is a set of components used for gathering, making, storing, preparing,…

Q: Accounting deals with quantifiable information.

A: Accounting means recording the financial transactions and converting them into reports to the…

Q: Explain the steps in processing transactions and the role of source documents.

A: Accounting cycle: It can be defined as the collective process of identifying, recording, and…

Q: For what purpose are entity relationship diagrams used?

A:

Q: three major subsystems of the transaction processing system

A: The transaction processing system is one of the three major subsystems of Accounting Information…

Q: Explain business entity concept in detail with example.

A: Introduction: Accounting: Accounting is an art of recording , classifying , summarizing and…

Q: How a transaction is determine to be Accretive or Dilutive and what does it means

A: Earnings per share: Earnings per share represent the amount of income earned per share of…

Q: 1. What is a business transaction?

A: Hi student Since there are multiple questions, we will answer only first question.

Q: What are the steps used when analyzing a business transaction?

A:

Q: explain in detail, what is a firm, why firms exist and what are Coasian transaction c osts?

A: Firm is referred to as the for-profit business organization like - limited liability company (LLC),…

Audit Procedures

Audit Procedures are methods and techniques performed by the auditor to determine the quality of financial information of clients, thereby expressing an opinion on true & fair view of financial statements and entity position. They are identified and applied at the planning stage of audit after determining audit objectives, scope, approach, and risk assessment.