How reported accounting numbers can affect an individual's perceptions and actions.

Q: How does the time period assumption affect an accountant's analysis of business transactions ?

A: Time period assumption state that business organizations are required to prepare and present their…

Q: How do you find gross profit in financial accounting?

A: Gross profit is the income earned by the company after deducting the cost of goods sold from the…

Q: consulting revenues under the accrual basis of accounting

A: Under accrual basis of accounting, revenue should be recognized when the right to receive it has…

Q: Who are the primary users of financial accounting information?

A: Primarily there are 2 types of users of financial accounting information: Internal users External…

Q: financial accounting focuses on providing information to internal users , is it true or false ?

A: Financial accounting is referred to a branch of accounting which keeps a complete record of all the…

Q: How are changes in accounting policies accounted for and disclosed?

A: Accounting policy: These are basically the rules, conventions and principles that are applied by the…

Q: What is accounting own words

A: Introduction:- Accounting may be defined as the process of recording and summarizing business and…

Q: Why would a client ask an accountant to report on a financial statement element?

A: Definition:

Q: What is the significance of accounting to people?

A: SOLUTION-   ACCOUNTING TO PEOPLE  MEANS ACCOUNTING TO USERS . THERE ARE SOME USERS OF ACCOUNTING ARE…

Q: How does financial statements help employees in decision making?

A: Financial statements are statements or reports that are prepared at the end of the accounting period…

Q: Why is a knowledge of accounting terms and concepts use-ful to persons other than professional…

A:

Q: n the role of the accounting system according to the agency theory

A: Agency theory is one of the common problem in the organization form of the system and that exist due…

Q: what is real account ?

A: There are three types of accounts that are used in accounting: 1. Personal 2. Real 3. Nominal Real…

Q: Why is it important to know the background in accounting research?

A: Accounting is the procedure followed by businesses to record their financial information…

Q: What type of internal and external accounting reports will you use in the process of making…

A: Internal accounting reports are managerial reports which are generated for use by managers at…

Q: Why are stakeholders important in accounting ethics?

A: Stakeholders' refers to the person(s) or a group who has some interest in a company and can be…

Q: 1. Explain the difference between the social role of accounting and the traditional role of…

A: Accounting is being a vast concept, effected by various internal and external users. Traditionally…

Q: Define Accounting and its importance in the field of business.Define owner’s equity and how it is…

A: Accounting is a system that identifies ,records and communicates relevant information that is…

Q: What is the difference between accounting and bookkeeping

A: Bookkeeping and accounting are both are relatable and most essential for business transactions to be…

Q: Role of accounting officer

A: An accounting officer is a person who is responsible for the financial record keeping of the…

Q: t

A: Definition of an Accountant An accountant is an expert who is liable for keeping and deciphering…

Q: Accounting includes activities such as identifying, measuring, and communicating financial…

A: Being the language of business, accounting acts as the bridge between the business and the users of…

Q: Who are the èxternal user's of accounting information

A: The accounting information is used by the external user and internal user. The External users are…

Q: PURPOSE OF ACCOUNTING Describe the kind of information needed by the users listed.Owners (present…

A: Accounting serves the purpose of rendering the required information to different users of financial…

Q: Identify TWO external consumers of accounting information and explain how that accounting…

A: Introduction: The term "financial statement" refers to any statement, such as an income statement, a…

Q: How can you ensure that your accounting records are accurate?

A:

Q: Who are the key users of accounting information? What type of information does each stakeholder…

A: Accounting: Accounting refers to the information system, where the economic activities of a business…

Q: Why is having knowledge of accounting terms useful to persons other than in an accounting…

A: Accounting terminology refers to complete description of associated terms that are used and for the…

Q: What is accounting? What type of information is provided by the accountants? How does an…

A: Meaning of Accounting: Accounting is the process of recording financial transactions pertaining to…

Q: Shareholders are external user of accounting information . The answer is true or false

A: The objective of the financial statement or accounting information is to provide information about…

Q: Is accounting theory really necessary for the making of accounting rules?

A: Solution:- Is accounting theory really necessary for the making of accounting rules:- Accounting…

Q: what are the difficulties may users of financial statements face it in using financial or accounting…

A: Accounting disclosure information: It is information that shows expenses and revenues of the…

Q: How do you maintain accounting accuracy?

A: Maintaining accuracy in the accounting records is an essential requirement for every entity involved…

Q: efine what is accounting? How accounting used in our daily activities? What is the nature of…

A: Accounting has emerged as a subject for students that can be used in wide range of activities, say…

Q: Why do people care about accounting?

A: This question discusses accounting.

Q: Explain how and why some changes in accounting principle are reportedprospectively.

A: Changes in accounting principle: A change in accounting principle is said to be a change in a…

Q: You are approached to comment on a company’s accounting disclosure quality. As an accounting…

A: Accounting disclosures are the information that the company discloses with the financial information…

Q: what is professional judgement in financial accounting ?

A: Financial accounting is that branch of accounting which deals in recording of transactions,…

Q: The accounting and disclosure requirements for changes in accounting policie

A: This question explains about the accounting and disclosure requirements for changes in accounting…

Q: Will the profits and expenses of a company impact disclosure and transparency?

A: Transparency refers to the access and disclosures of financial information. As financial information…

Q: Which came first? Accounting regulations or the need for accounting regulations? Explain.

A: Accounting regulations are important part of accounting and regulation of accounting make accounting…

Q: Which of the following statement is true about purpose of accounting? Select one: a. The purpose…

A: Introduction: Accounting: Accounting is an art of recording , classifying , summarizing and…