Define specific identification method
Q: determine the initial recognition, initial measurement, and subsequent measurement ofbonds;
A: The face value of a bond is the fixed maturity value and the coupon is the fixed periodic amount…
Q: Requirements:
A: The percentage of completion method is a revenue recognition accounting concept that evaluates how…
Q: Define specific identification
A: Method of Inventory: Inventory refers to the current assets that a company expects to sell during…
Q: Explain the characteristics
A:
Q: Define Assigning.
A: Assigning is a process of assignment. Assignment means a transfer of a right to receive a…
Q: Detailed explanation and steps
A: The amount incurred upon manufacturing or production of goods is known as cost. The total cost…
Q: Explain external event with example.
A: Accounting events: Accounting event refers to the business event that creates an impact in the…
Q: Explain Matching Principles?
A: Matching concept is an accounting principle which explains the need to match revenue with the…
Q: Differentiate between essential and nonessential activities.
A: Production: Production activity consist use of fixed and variable resources to produce final…
Q: Define Reconciliation method
A: Bank reconciliation: Bank statement is prepared by bank. The company maintains its own records from…
Q: analytical procedures
A: First option is correct because analytical procedures assist to identify the risk by comparing the…
Q: Define NRV method.
A: Definition: Product costs: The costs incurred to acquire the merchandise, ship the stock, prepare…
Q: Describe the usefulness of a conceptual framework.
A: A conceptual framework can be defined as a system of ideas and objectives that lead to the creation…
Q: Define tangible.
A: Tangible means anything that can be touched and seen.
Q: How to calculate Specification identification
A: Inventory is considered as the items that kept in a business for production or sale or production.…
Q: Answer of the following question related to these characteristics and constraints. In general,…
A: Relevant information is data that can be applied to solve a problem. The relevance concept can mean…
Q: Define association.
A: Accounting Information System (AIS): The system which helps to gather, store and process the…
Q: Define Recognition.
A:
Q: Explain Matching concept and provide example.
A: In order to record revenue and expense for a company, it should consider the matching concept while…
Q: explain the specific identification approach
A: Introduction: Inventory valuation is an accounting practice used by businesses to determine the…
Q: Define Contingencies.
A: Uncertain events refer to uncertainty regarding the occurrence of an event or the data values…
Q: Define and explain the significance of the term CMA.
A: Certified Management Accountant (CMA): CMA stands for certified management accountant. CMA…
Q: Define Pooling of interests method
A: The pooling of interest is a technique used for the M&A between two companies. In this method,…
Q: Explain the relationship between cardinality and association.
A:
Q: Explain FLSA and its purpose.
A: FLSA stands for fair Labor Standards Act. It is an act that aims at protecting the interest of…
Q: Define Hedging.
A: Hedging is the transfer of risk from a risky financial instrument to another instrument by buying or…
Q: Summarize what are the MACRS guidelines?
A: The MACRS (Modified Accelerated Cost Recovery System) is the current tax depreciation system in the…
Q: Define classified boards
A: In classified board structure, certain board of directors are classified depending on time length of…
Q: List Common Types of Analytical Procedures
A: Definition: Analytical procedures: Analytical procedures are a method by which standard balances…
Q: Explain an example of source documents.
A: Source documents: The documents which contain evidence of accounting data to record the transactions…
Q: Define Physical location exchange
A: Exchange relates to a platform where the asking and bidding of various securities of different…
Q: Define best efforts arrangement
A: Introduction: There are two techniques utilized by the corporations to vend their stocks that is…
Q: what is Reference control ?
A: I assumed as a question, as what is meant by the reference to cost control?
Q: Define FIFO method
A: FIFO stands for , First in first out method , is an asset management and valuation method in which…
Q: Describe internal event with example.
A: Definition: Accounting event: An accounting event is a transaction that is recorded in the books…
Q: Define the term assurance.
A: Assurance: Assurance is a financial coverage that delivers payment for an occurrence that is sure to…
Q: Define vesting
A: The process by which a secured the right of present or future deployment is given to the holder…
Q: Define benchmarking
A: Definition : Benchmarking can be understood as the method of contrasting company procedures and…
Q: Recommend wl decisions.
A: Profitability index is a calculation that divides the current value of expected anticipated cash…
Q: Define Direct method
A: The Direct Method is Described Below -
Q: Define Prepayments.
A: Step 1 The outflow of money to reduce the liabilities occurred in the current accounting period…
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: Define Transaction exposure
A: Transaction exposure is the sensitivity of realized domestic currency values of the firm's…
Q: Define Statement of fi nancial condition
A: The financial statements of any business firm is prepared for telling the financial results of the…
Define specific identification method
Define specific identification method?
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