List and explain two important criteria that must be satisfied in order for information to be relevant.

Q: What are the characteristics of good or useful information?

A:

Q: (Audit) When we are looking for completeness how do we match them up?

A: Audit is the term which is used in accounts and it is defined as examination of the different books…

Q: What are the broad classes of facts that need to be gathered in the system survey?

A: Accounting Information System: AIS collects, records, stores and processes accounting and other data…

Q: Describe the purpose of the AICPA. What is the AICPA’s primary function?

A: The American Institute of CPA (AICPA) is a non-profit organization of Certified Public Accountants…

Q: Looking for answers to the below questions

A: Multi-step income statement is prepared in different steps showing gross profit and net profit…

Q: Answer asap please,   With the use of examples, differentiate between: Theoretical expertise and…

A: Sharing and rapid knowledge growth are made easier by information technology. Information technology…

Q: What does the process of providing this information to external users is called? Describe about it…

A: Financial Reporting System:   It refers to monitoring the financial resources of an organization as…

Q: What can be concluded from the provided picture?

A: Statement of cash flow is the one prepared by the company to determine the cash position of the…

Q: define W-3: explain the purpose, and who uses the form.

A:

Q: Define agency relationship

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

Q: What document is used to determine which tables of data are necessary?

A:

Q: Why is a source document important? List some examples of source documents.

A: Source documents refers to the documents pertaining to a business transaction. It captures the key…

Q: Find three key ideas that underpin GAAS and explain why they are so important.

A: Concept: GAAS is generally accepted auditing standards. It is to be followed by the auditors while…

Q: Identify the items from the following list that are likely to serve as source documents.

A: As it is difficult to check the boxes, i am providing the answer manually: The list that can be…

Q: Discuss the rules for linking events to resources and agents in an REA diagram.

A: REA Diagram: REA diagram is a technique which is used to establish the relationship between…

Q: Explain why there is a trade-off between information accuracy and information timeliness. Give an…

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

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: relevance characterisitic

A: Relevance is an important characteristic of accounting or financial information.

Q: What is information system ? Elaborate and describe the details

A: Solution- Information systems-        AN system could be a collection of interconnected elements to…

Q: What are two objectives that enable reports to be considered useful?

A: Report: It can be defined as the document that assists the users and the management in providing…

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

A:

Q: What is one objective of an appraisal program? a. having tho

A: What is the one Objective of an appraisal program ? a. having the employee feel more valued  b.…

Q: Describe the steps required to apply the APV approach.

A: Adjusted present value is used for estimating the value of projects and the worth of the firms. It…

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 is the objective of having a conceptual framework?

A: Conceptual framework means set of rules and guidelines that help the users and preparers in…

Q: Please provide solution and explanation

A: Lease agreement The purpose of lease agreement is to use the assets of the lessor by the lessee for…

Q: Explain an example of source documents.

A: Source documents: The documents which contain evidence of accounting data to record the transactions…

Q: What are the functions of the conceptual framework under IFRS?

A: International Financial Reporting Standards:   IFRS (International Financial Reporting Standards) is…

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

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

Q: describe the roles of fi nancial reporting and fi nancial statement analysis;

A: Financial reporting means representing records maintained by an organization in the form of…

Q: Explain the relationship between the three levels of the data definition language. As a user, which…

A:

Q: Use the following information to answer questions. (Algo)

A: Applied overhead seems to be a sort of direct overhead charge that is documented using the…

Q: Explain the objectives of FIFO method.

A: First-in-First-Out: In First-in-First-Out method, the costs of the initially purchased items are…

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: Answer of the following question related to these characteristics and constraints. When there is…

A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…

Q: What is the purpose of the FASB’s conceptual framework?

A:

Q: what is the summary of this topic?

A: Here ask about the summary of the product which is the important aspect of the packing for the…

Q: Explain the concepts and principles which underlie the SMEs standard

A: The concept and principle of sme standard are as follows

Q: 1. What are externalities?

A: Comment-  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Answers the questions below and provide a solution.

A: Dividends are a percentage of profits declared to the shareholders. It is an income for the…