Define the term internal users.

Q: Define value of operations, Vop

A: Definition: The Present Value of all future free cash flows which are discounted at the Weighted…

Q: Define composition

A: Composition: The composition is the act of putting something jointly, or the grouping of rudiments…

Q: What is the purpose of EDI?

A: Transparency in electronic data exchange: Expanding EDI enables suppliers to get access to a buyer's…

Q: Explain external event with example.

A: Accounting events: Accounting event refers to the business event that creates an impact in the…

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: What are the major functions performed by the OE/S process?  Explain each functions.

A: Order-to-cash process or revenue process is the process undertaken for making sales and receiving…

Q: Define suppliers.

A: Merchandising businesses: Merchandising companies which buy goods from suppliers, or manufacturers,…

Q: Define agency relationship

A: Agency relationship is the part of business law where it is a legal relationship between the two…

Q: Define statement of operations.

A: Financial statements of an organization includes income statement, balance sheet and cash flow…

Q: Describe WACC and its components.

A: WACC: The weighted average cost of capital (WACC) is a computation of   cost of capitalof a company…

Q: What are the objectives of application controls?

A: An application control consists of compactness and validity checks, identification, authentication,…

Q: Define the term posting process.

A:

Q: Explain what internal and external linkages are.

A: Interior linkage alludes to everything just in extent of an interpretation unit. Outside linkage…

Q: Define clientele effect

A: Clientele effect It clarifies the development in the stock cost of a firm as indicated by its…

Q: Define tangible.

A: Tangible means anything that can be touched and  seen.

Q: Define agency problems,

A: Agency problems occur when the managers use the firm's resources to invest in projects that may not…

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: Define association.

A: Accounting Information System (AIS):   The system which helps to gather, store and process the…

Q: Define Recognition.

A:

Q: What are the functions of the PCAOB?

A: Introduction PCAOB stands for Public Company Accounting Oversight Board. This is a private…

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 and describe what is meant by internal control.

A: Internal control:   Internal control can be defined as a process to ensure achievement of the…

Q: Define Hedging.

A: Hedging is the transfer of risk from a risky financial instrument to another instrument by buying or…

Q: Define operating activities.

A: Explain the meaning of operating activities:Statement of cash flows: This statement reports all the…

Q: Define the term Net method.

A: As per the net method, the company records the amount of purchase by deducting any potential…

Q: Discuss the objectives of segmental information and the requirements for the disclosure of segmental…

A: Segmental information: Segmental information is the way of providing the overall information about…

Q: What are the major functions performed by the OE/S process?  Explain each function.

A:

Q: Write down the characteristics that defines operating segments.

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

Q: Define the term operating activities.

A: Operating activities are the functions of a business directly related to providing its goods and/or…

Q: Identify the following users as either external users (E) or internal users (I). Consumer group

A:

Q: Define Physical location exchange

A: Exchange relates to a platform where the asking and bidding of various securities of different…

Q: What is full form of CIP? Explain about it.

A: Carriage and Insurance Paid to is the full form of CIP

Q: What is a CMO?

A: A collateralize mortgage obligation (CMO) refers to a type of mortgage-backed security that contains…

Q: What are the types of external user?

A: Entity needs to prepare a financial statement for the use of internal and external decisions making.…

Q: Define the term external users.

A: An external user is a person outside of an organization who does not directly run its operations and…

Q: To incorporate,

A:

Q: Define collection policy

A: Introduction: A mutual responsibility between the operating departments, accounts receivables is to…

Q: What are the operating activities? Give some examples?

A: The statement of cash flows is the statement which shows the change in the cash and cash equivalents…

Q: Define service sector.

A: Service Sector: The service sector produces intangible goods, more precisely services instead of…

Q: Define Direct method

A: The Direct Method is Described Below -

Q: What are support events?

A:

Q: What are the components of relevant information? What are the components of faithful representation?

A:

Q: Define the term attest function.

A: