Describe four decisions for which ABC information is useful.

Q: 3. Describe four decisions for which ABC information is useful.

A: ABC is referred to as "Activity Based Costing".

Q: Discuss and give examples on tje 3 fundamental information system objectives

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

Q: What are the three major sections of the CAFR?

A: CAFR is basically stands for Comprehensive Annual Financial Report which basically helps in…

Q: What is CVP and four uses of it

A: Cost volume profit analysis -   - CVP analysis helps in determining how changes in costs and volume…

Q: three differences between REA diagrams and ER dia

A: REA diagram REA diagram is a technique used to establish the relationship between resource, events…

Q: Identify and explain five criteria by which a taccounting heory may be evaluated?

A: The accounting theory is considered as a branch of accounting that consists of all the set…

Q: Define statement of operations.

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

Q: In your own words, explain any 3 roles inventory with the use of your own examples

A: Inventory Basically management of the inventory system is one of the challenging task of the…

Q: Explain the three authorized controls

A:

Q: Outline the five-step sequence in a decision process.

A: Five-step decision-making process: Five-step decision-making process not only helps in planning the…

Q: Describe the six decision m evaluate their effectiveness

A: CAPITAL BUDGETING: The process through which a company evaluates possible big projects or…

Q: Describe three types of standards and provide examples of each?

A: Three Types of Standards are :-  a) Basic Standards. b) Current Standard. c) Normal Standards

Q: e and explain activities alonc n them in det core activity.

A: Value chain refers to the concept which elaborates the range of activities involved in transforming…

Q: explain each item

A: The ratio is the process of determining the relationship between the two variables. In accounting,…

Q: List the four types of responsibility centers, and briefly describe each.

A: Types of Responsibility centers: 1) Cost Center 2) Revenue Center 3) Profit Center 4) Investment…

Q: Discuss and give examples on the 3 fundamental information system objectives

A:

Q: Name the three types of documents.

A: Documents: Document refers to a record of economic activity initiated by an entity. It serves as a…

Q: Identify three activities measures calculated by FCI.

A: Activity measures: Activity measures initially focus on how efficiently the assets are used. For…

Q: Describe the minimum number and types of events that an REA diagram must include.

A:

Q: An information system must meet three fundamental objectives. Discuss why three objectives cannot…

A: Information System Information system refers to a set of factors or components used for data…

Q: What are the four major groups of providers and users? For eachgroup, state whether it is a net…

A: Four major groups of providers and users :

Q: Describe the primary roles of the PCAOB.

A: PCAOB indicates to a non-profit organization stated in US and set up by Sarbanes-Oxley Act in…

Q: What are the five most important design principles for source documents

A: Answer: There is important design principles for source documents so that the documents are…

Q: Describe four signs that help indicate when ABC systems are likely to provide the most benefits.

A: Activity based costing is one of the methods of costing to identify the activities performed to…

Q: List and define the seven report attributes.

A: The formal document used for providing information to the managers is called report. The information…

Q: Define a provision, and give three examples of a provision.

A: Definition:   Liability: Liability is an agreement made by a company to pay a certain amount for the…

Q: Explain what is included in Form 10-Q and why is it needed.

A: Form 10-Q The Form 10-Q is a comprehensive report of a company's performance submitted quarterly by…

Q: Evaluate three accounting system controls.

A: A set of interconnected accounting operations and controls is referred to as an accounting system.…

Q: Steps involved in classification of ABC analysis.

A: ABC analysis is the technique of inventory management. Under this analysis, inventory items are…

Q: What are the five control objectives of an operating system?

A:

Q: Describe and explain in detail the importance of all FIVE (5) components of COSO

A:

Q: Name the three most common ways to segment an organization.

A: On the basis of ownership, companies can be classified into the following three categories:…

Q: state and explain six factors that make information useful

A: Accounting information provides a base for the user in decision making. The information provided…

Q: Give three examples of application controls.

A: Internal Controls: Internal controls are the controls established within an organization to check…

Q: Name three types/categories of external stakeholders

A: Stakeholders is the wider term, it means group of people which help to run a business successfully.…

Q: Lists five measurement attributes employed in GAAP.

A: There are three measurement attributes employed in GAAP: Historical Cost Net Realisable Value…

Q: What is significant influence as defined by IAS 28 and give four examples of how significant…

A: Significant influence seems to be the ability to engage in an entity's operational and financial…

Q: Include external stakeholders by naming three different kinds or groups

A: External stakeholders are the ones who are not directly related to the company but are affected by…

Q: List and define the four basic management activities.

A: Definition: Managerial accounting: Managerial accounting is a system, or a process of collecting…