What determines the order of the information shown on thebalance sheet?

Q: Define Unclassifi ed balance sheet

A: Introduction: Unclassified balance sheets are typically utilized only for internal purposes.…

Q: What

A: Introduction:- The following one of the conditions is required to satisfied for segment reporting as…

Q: What are the distinguishing characteristics between REIT data and the NCREIF Property Index?

A: NCREIF property index helps in measuring the performance of the investment made in real estate with…

Q: What concept underlies the temporal method of translation? What concept underlies the current rate…

A: The basic objective underlying the temporal method of translation is to produce a set of U.S.…

Q: How do I compute for the Started,completed, and transferred-out in Weighted Average EUP?

A: Started units are units at total number of units at the start of the process. Completed and…

Q: What is the basis for distinguishing between operating and nonoperating items?

A:

Q: What is a registration statement?

A: Statement: It can be defined as any sentence or a line that provides information in a definite or a…

Q: Describe the Declining-Balance Method with examples?

A:

Q: What does MYOB use the Historical Balancing account for?

A: MYOB: It is often defined as an international accounting software that is used by the businesses for…

Q: What are the valuing inventories?

A: Cost:   It is the economic value incurred by an organization to manufacture a product or to render a…

Q: What are some of the techniques of disclosure for thebalance sheet?

A: Balance Sheet: Balance Sheet is one of the financial statements which summarize the assets, the…

Q: Trial Balance?

A: Trail balance is the statement which is prepared by the business so that it can be assured that the…

Q: Explain the effect of compensating balance with example.

A: Compensating Balance Compensating Balance is refer as the minimum amount of the money which are…

Q: Define adjustment entries and how they are passed?

A: Adjusting entries are those entries which are made at the end of the accounting period, to record…

Q: What is the difference between mark up and margin?

A: a) Mark up is the amount which is added to the cost of a product to determine the selling price,…

Q: Explain rebalance

A: Rebalancing is the strategy for realigning portfolio weightings. Rebalancing incorporates buying or…

Q: What is meant by noting of bill ?

A: Meaning of Noting of BillWhen a bill (draft or promissory note) has been presented for acceptance or…

Q: Difference of Perpetual and Peiodic

A: Perpetual:-It is the inventory management system that keeps the record of the inventory in…

Q: Define refunding operation

A: Introduction: Refunding is the method of withdrawal or repayment of an existing bond issue by…

Q: What are the two parts of a registration statement? What does each part contain?

A: Registration statement is composed of two parts 1. Prospectus 2. Informational needs of the staff of…

Q: What IF function can be used to determine whether or not an amount in a certain cell should be a…

A: A journal entry is the first step in including a transaction into the books of accounts. Under the…

Q: How to calculate the mark up

A: The markup is calculated with the following formula:

Q: What are reversing entries? Are they required by GAAP?

A:

Q: Define compensating balance (CB)

A: Compensating balance is a minimum amount a borrower has to maintain with the lender. This is very…

Q: what are opening balances

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Distinguish between substantive tests of transactions and tests ofdetails of balances. Give one…

A: Distinguish between substantive tests of transactions and tests of details of balances.

Q: Do equivalence calculations require a common time basis for comparison?

A: Answer: The calculation of equivalence method is used where duration of the projects is not equal.…

Q: What mathematical relationship is used among proprietary account balances?

A: Answer:-  Mathematical relationship meaning:- A mathematical relationship in the general term can be…

Q: The usefulness of the balance sheet is enhanced by classifying assets and liabilitiesaccording to…

A: Balance Sheet: Balance Sheet is one of the financial statements which summarize the assets, the…

Q: How does the Genral Ledger work?

A: General ledger is the account prepared by the company for each transactions made by the company. It…

Q: What role does the general ledger department play in the conversion cycle?

A: Conversion Cycle: A set of all processes that are used to collect inputs and convert them into final…

Q: What do you mean by adjustment entries ?

A: A journal entry is being used to track a business transaction in a company's accounting records. A…

Q: Define Classifi ed balance sheet

A: Financial statements are statements which report the profitability and financial position of…

Q: What is the purpose of a registration statement?

A: Registration statement is a legal document which is filed with the SEC to register securities for…

Q: What is the concept underlying the current rate method of translation? What is the concept…

A: There are two main methods of currency translation accounting: The current method -when the…

Q: Does the Equivalence Calculations require a common time basis for comparison?

A: Equivalence approach for calculation is used when lives of the projects are not equal. When the…

Q: Define a compensating balance

A: Definition: Compensating balance: A compensating balance is a minimum amount of cash that must be…

Q: How is the LIFO method used to calculate inventories? Is this permissible according to GAAP?

A: Last-in-First-Out (LIFO): In this method, items purchased recently are sold first. So, the value of…

Q: Explain the measurement attributes employed in GAAP.

A: The measurement attributes employed in GAAP are as follows: Historical Cost Net Realisable Value…

Q: What indexes does Target use to measure the LIFO provision?

A: Inventory:   Inventory for a business refers to stock in hand, work in process, raw materials,…

Q: List the steps we use to measure external transactions.

A: Measurement process of external transactions: