Discuss what is meant by the statement, “The accounting system is a conceptual flow of                  information that represents physical personnel, machinery, and flows of raw materials and cashthrough the organization.”

Q: The objective of financial accounting information is to provide information about the business…

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: GENERAL LEDGER/REPORTING SYSTEM. Please explain how each cycles in the business process/transaction…

A: General Ledger Reporting system The preparation of the general Ledger is one of the important…

Q: The accounting process generates financial reports forboth internal and external users. Describe…

A:

Q: Accounting function definition in a firm. Whence comes the function, and why is it required? What…

A: Accounting is the systematic and detailed documentation of a company's financial transactions in a…

Q: What are the functions of the financial balance sheet in assisting in management's decision-making…

A: The question is based on the usage of balance sheet in financial decision making  by managers.

Q: Which of the following is NOT one of the definitions of Management Accounting? Select one: a. Any…

A: Management accounting is the accounting that helps the management in planning and taking better…

Q: Describe a company's accounting system. Why is this function significant and what does it do? What…

A: Every company involved in carrying out business transactions is required to keep a proper record of…

Q: Which of the following statements is the best definition of an accounting information system? A. A…

A: It is a systems used for collecting, storing, managing, processing, retrieving and reporting of…

Q: Is the value chain in a managerial accounting a tool that primarily assists in the valuation of…

A:

Q: What processes are used to be able to ensure that all related financial details are allocated for…

A: For being able to make sound business decisions it is very important to ensure that all the related…

Q: True (t) or False (f) ______ Financial accounting is the process of identifying, measuring,…

A: The Statement is "True (t)".

Q: How do an organization's business activities and lines of business impact the process of designing…

A: Answer: Solution Concept Accounting information system               The term accounting information…

Q: What is the role of the accounting function in an organization?

A:

Q: Explain whether the cost of accounting systems primarily support internal or external reporting

A: Cost Accounting System: Cost accounting system can be defined as a framework designed by the…

Q: How do an organization's activities and lines of business impact the design of an Accounting…

A: Accounting Information Systems or AIS is the system which includes processing, gathering and storing…

Q: What is the significant contribution of the Accounting Information System in the business value…

A: In most businesses, the accounting department is the single most frequent user of the accounting…

Q: Prepare an entity relationship diagram, in good form, for the expenditure cycle, which consists of…

A:

Q: company analysis and value based on accounting data

A: The Answer

Q: Accounting role of a business organization explained. Whence comes the function, and why is it…

A: Accounting functions involve tracking, storing, documenting, analyzing, summarizing, and reporting a…

Q: Which is one of the most important roles of the accounting function within an organization?

A: Accounting Function: Accounting function are the functions related to maintenance of records of the…

Q: Accounting is an information and measurement system that identifies, records and communicates an…

A: Accounting are often outlined because the method of recording, classifying, summarising the money…

Q: Who are the focused users/stakeholders of financial accounting and cost accounting?

A: Financial and Cost accounting are the major accounting area in an organization. It will helpful to…

Q: Which of the following is not a function of financial management? Options: A) Handling decisions…

A: Financial management is the function of planning and executing the financial policies of the firm.…

Q: How do the business processes and lines of business of a company influence the design of its…

A: The business processes and lines of business of a company influence the design of its accounting…

Q: Explain the use of the general ledger in the financial management process.

A: A general ledger is a financial data record-keeping method that contains debit and credit account…

Q: Accounting function of a firm explained. Why is the function needed and what is its purpose? What…

A: The accounting function of a firm is referred to as a set of financial systems that help in the…

Q: Classify which area in the organization these functions belong: Finance, Accounting, Marketing,…

A: Various department of the company does various function for example production department is related…

Q: One output of the accounting information system is the balance sheet. Transactions commonly…

A: Accounting information system is one of the important system that is being used for maintaining and…

Q: Which of the following is not a function of financial management? Options: A) Handling decisions…

A: Financial management includes the decision that impacts the overall financing mechanism of the…

Q: Describe the internal role of accounting for organizations.

A: Accounting refers to the method of communicating financial information to users such as investors,…

Q: Determining the cost of producing specific products or providing services and analyzing for cost…

A: The answer is stated below:             Note: Answering the first three subparts as there are…

Q: Accounting is the information system that Measures business activities. Communicates the results to…

A: " All of the above is the correct option" as accounting is the information system that examines the…

Q: Components of an accounting information system Measures working people hardware all of the above

A: The accounting information systems records and process both the financial and non financial…

Q: Which of the following would be least likely to be considered a managerial accounting report? a.a…

A: The correct answer is option b i.e. a statement of stockholders' equity. Because out of the other…

Q: Classify the following as to whether they are normally related or not to accounting and finance…

A: The recording and analysis of company activities are referred to as accounting and finance.…

Q: This concerns ensuring that company assets are being used efficiently.    a. Financial planning b.…

A: Financial planning is the detailed plan to reach to a financial goal. Financial controls are the…

Q: Why is accounting data so useful to users and stakeholders both inside and outside the business?

A: Stockholders own a portion of the company's capital stock. They are the business's actual owners.

Q: What are the key activities and the logical tasks, sources and uses of information, and movement of…

A: The spending or the expenditure cycle also known as the buy and pay cycle, invoices all processes…

Q: When it comes to the design of an Accounting Information System, how do an organization's business…

A: The Answer

Q: How do an organization's business processes and lines of business affect the design of its…

A: AIS stands for Accounting information system is defined as the business structure that uses to…

Q: An organization needs to keep flow of information with various internal and external parties.…

A: Accounting is defined as the procedure for recording, interpreting as well as summarizing the…