Materiality Principle

Q: Explain CMO Mechanics?

A: Collateralized mortgage obligation: It is a financial instrument that raises funds by…

Q: Explain the characteristics

A:

Q: Explain external event with example.

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

Q: Describe the functions and powers of ASIC

A: Australian securities and investment commission is a commission made in 1998 of Australian…

Q: explain with detailed reason.

A: NCAA stands  for National Collegiate Athletic Association.  NCAA is a nonprofit organization that…

Q: Explain

A: LCNRV method means Lower of cost and net realizable value method.

Q: Realization Test Principle/Theory.

A: Accounting is based on some principles, and to maintain uniformity, everyone must follow accounting…

Q: Explain the figure.

A: Cash Flow Statement This statement provides a complete analysis of the liquidity of the company and…

Q: Give examples

A: Quality auditing is a systematic review of an organization's quality management system (QMS).…

Q: Explain the purpose of the conceptual framework.

A:

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: Explain thoroughly why it is the answer.

A: solution : liabilities are : correct answer is present obligation arising from past events and…

Q: Define Volcker rule

A: Volcker Rule is a regulation that implies restrictions on the banks to involve in the stock market…

Q: Define basis point

A: Answer: A base value is an approximate number, also used as an initial index value. All potential…

Q: What is MM Proposition I?

A: Modigliani and Miller’s approach is an element of economic theory and it forms the basis for modern…

Q: Define Baumol model

A: The main usage of Baumol model is that it helps the firm in determining the cash balances under the…

Q: Define attainable set

A: Attainable SetA set of all the portfolios that are possible to be formed by the group of the number…

Q: Define the term realization principle.

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

Q: Define and explain the significance of the term CMA.

A: Certified Management Accountant (CMA): CMA stands for certified management accountant. CMA…

Q: Explain recourse

A: A recourse is a legal right to demand a compensation  or repayment. it is an legal agreement that…

Q: Explain an example of faithful representation.

A:

Q: Explain the relationship between cardinality and association.

A:

Q: what is the purpose of the conceptual framework?

A: The conceptual framework is comprised of six Financial Accounting Concepts statements that serve as…

Q: explain

A: It is identified that many of the criteria given in the Table I can be met simultaneously. For…

Q: Define the term Net method.

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

Q: Explain what is solvency

A: Introduction:- Solvency play vital role in every organization because it measures companies…

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: Explain

A: There are several forms of business organisation. These are sole proprietorship, partnership and…

Q: What is view integration?

A: View Integration:  Single model which is created for integrating multiple REA diagrams (which were…

Q: Define Will.

A: A will is a legal document in which a person specifies how his property is going to be distributed…

Q: Define Simple interest.

A: Simple interest: The amount of interest computed on the principal amount for a time period at a…

Q: Explain the basic concept of ABC analysis.

A: Answer

Q: Define the term Force account?

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

Q: illustrate with an example how can we determine the IRR?

A: IRR is a method that tells the company how much returns the company will earn on the amount spent on…

Q: for osganizat

A: Business portfolio : In simple words, A business portfolio can be understood as the collection of…

Q: Explain title Mechanics’ Liens?

A: Lien is a right of posession of an asset; in case, debts are not discharged by the owner of the…

Q: Define the term lnvesting activities? Explain with an example?

A: Investing activities are the activities in a business which involves investment done during a…

Q: Define the term precision.

A: Introduction: Precision is the amount of information provided by a number in terms of its digits; it…

Q: Explain materiality Principle in detail with example

A: A set of rules and guidelines that is required to be followed by an entity in the process of…

Q: Explain Prudence concept and provide example.

A: Following accounting concepts & principles are used in accounting:     Business entity principle…

Q: Define cardinality.

A: Cardinality: Cardinality refers to number of possible links of one table with another table.…

Q: Define the term value stream.

A: Definition: Stream: A stream is the sequence or series of data elements. Streams are not processed…

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 discriminant function

A: DISCRIMINANT FUNCTION- If we have a set of K classes then we may define a set of K discriminant…

Q: Define consol

A: consol is a debt instrument.

Q: Define duality.

A: Duality is related to happening of an economic transaction. This concept arises when any transaction…

Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.