Define a subsequent event.

Q: Define OLAP, and give some examples.

A:

Q: later, the pre etting up the

A: Working notes :-                                        Break-even point = Contribution is…

Q: Explain the difference between external events and internal events. Give an example of each type of…

A: An Accounting event is a transaction that is recorded in the books of accounts of the company. There…

Q: Explain types of Properties?

A: Tangible Property: This type of properties alludes to a property that can for the most part be…

Q: Explain the difference between the two types of subsequent events.

A: Subsequent events refers to events which occur after the end of reporting period but before…

Q: Describe the revaluation model.

A: Introduction: The revaluation model stretches a business the option of carrying a fixed asset at its…

Q: Explain the periodicity assumption.

A: Definition:   Generally Accepted Accounting Principles (GAAP): These are the guidelines necessary to…

Q: What is a prior-period adjustment?

A: Statement of retained earnings: This is a financial statement that shows the amount of net income…

Q: Distinguish between an activity’s trigger and its root cause. Give an example of each.

A:

Q: What is an updated report?

A: Report: It can be defined as a document that provides the information to a specified group of people…

Q: What is a subsequent event?

A: Financial statements are the records containing the trading account, profit and loss account and the…

Q: Define the term Time-based methods.

A: Allocation method: It is a method in which allocation base is expected to be consumed during the…

Q: What are Subsequent Events and what do they require?

A: Auditing:   It is a systematic verification of the books of accounts of an organization by an…

Q: What is a condition subsequent? Briefly explain with examples.

A: Condition subsequent: Condition subsequent refers to an event which bring an contract to an end…

Q: Describe about the NOL.

A: NOL means Net Operating Loss. This is a situation when company's deductions are more than it's…

Q: ) The time is progressed by using the event count method.

A: Event count method is the process of measure the no. Of discrete events over period of time.

Q: Define APR

A: Annual Percentage Rate (APR) is annual interest rate charged for borrowing money. APR is cost for…

Q: Discus the elements of GAAS, how does it relate to GAAP?

A: GAAS(Generally Accepted Auditing Standards) :- provides standards by which the prepared financial…

Q: Define regular interest

A: The investment in securities like bonds, investors receive interest which is either accrued or…

Q: Define Will.

A: A will is a legal document in which a person specifies how his property is going to be distributed…

Q: To incorporate,

A:

Q: Define claim

A: Corporation - An organization that has been registered as a corporation under a corporation act has…

Q: Explain an example of prepayments.

A: The outflow of money to reduce the liabilities occurred in the current accounting period refers to…

Q: Define Simple interest.

A: Simple interest: The amount of interest computed on the principal amount for a time period at a…

Q: Determine the IRR

A: IRR is the discount rate where NPV of the cashflows calculated using IRR will be Zeera, which means…

Q: for osganizat

A: Business portfolio : In simple words, A business portfolio can be understood as the collection of…

Q: Describe internal event with example.

A: Definition:   Accounting event: An accounting event is a transaction that is recorded in the books…

Q: Define vesting

A: The process by which a secured the right of present or future deployment is given to the holder…

Q: Distinguish between the two general types of subsequent eventsand explain how they differ. Give two…

A: Auditing: Auditing is an independent examination of financial statements. The set of financial…

Q: Describe EVA.

A: EVA (Economic Value Added):

Q: Define principal

A: Principal can refer to an amount of money you invest, the face amount of a bond, or the balance you…

Q: Explain an example of external events.

A: Accounting event is a transaction that is recorded in the books of accounts of the company. There…

Q: Describe the steps required to apply the compressed APVapproach.

A: Steps required to apply the compressed APV approach: Step 1: Prepare forecasted cash flows As with…

Q: Define Transaction exposure

A: Transaction exposure is the sensitivity of realized domestic currency values of the firm's…

Q: Define consol

A: consol is a debt instrument.

Q: What is the purpose of the timeline chart?

A: A timeline is a visual representation of a list of events in chronological sequence.  It is usually…

Q: Explain subsequently discovered fact.

A: Auditor plays very important role in verifying and examining the authenticity of books of account…

Q: Define Periodicity assumption.

A: Generally Accepted Accounting Principles (GAAP): These are the guidelines necessary to create…

Q: Define the following:a. Asset

A: Definition of Assets is given below,