Why are the realization and matching principles important?

Q: What is the importance of Reconciliation

A: Reconciliation:   It is an accounting process to calculate the correct balance of all accounts. This…

Q: What is the purpose of EDI?

A: Transparency in electronic data exchange: Expanding EDI enables suppliers to get access to a buyer's…

Q: tutes an AD

A: Introduction : An ADT can be understood as the programmer-defined type having the following…

Q: What are the similarities between MRP and DRP?

A: Material Requirement Planning and Distribution Requirement Planning are the essential components…

Q: Explain the call-put parity relation and how it is justified?

A: call-put parity relation 1. It shows the prices of calls and puts , consistency of underlying…

Q: The components of the conceptual framework ?

A:

Q: Explain Matching Principles?

A: Matching concept is an accounting principle which explains the need to match revenue with the…

Q: What assumptions underlie the EOQ model?

A: The model that helps in calculating the optimal amount of quantity needs to be purchase for…

Q: What is meant by cardinality in entity relationship diagrams?

A: An entity relationship diagram is a representation of all the resources that are associated with the…

Q: What is the mechanism via which Naics operates?

A: It is about the mechanism via which Naics operates:

Q: Describe the assumptions underlying CVP analysis?

A: Cost-Volume-Profit Analysis (CVP Analysis): CVP Analysis is a tool of cost accounting that measures…

Q: How are OLTP and OLAP different? Provide some examples to explain.

A: Definition; Computer-based information system: Computer-based information system refers to the…

Q: Explain types of Properties?

A: Tangible Property: This type of properties alludes to a property that can for the most part be…

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: Could someone please explain the DCF model

A: Introduction : Discounted cash flows (also known as discounted cash flows): As discounted cash…

Q: What are some factors thatmight lead to synergy?

A: Introduction: When two companies combine and raise the valuation of the new firms and thereby…

Q: Which method would be more consistent with the matching principle? Why?

A: Definition:

Q: Can two different entities have the same defining attributes? Explain.

A: Entity in the context of database management implies anything regarding which data is required to be…

Q: Explain the relationship between cardinality and association.

A:

Q: What is scalability?

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 FLSA and its purpose.

A: FLSA stands for fair Labor Standards Act. It is an act that aims at protecting the interest of…

Q: What is GAAP and how does it work

A: The accounting is based on various principles that are defined by GAAP or IFRS.

Q: What is the full form of ERP? Explain ERP with examples?

A: ERP means Enterprise Resource Planning, it is a process management software used by organizations to…

Q: Can you explain DCF model?

A: Introduction Discounted cash flows: DCF is abbreviated as discounted cash flows. The concept of…

Q: Describe Caveats?

A: A notice that is given to the court that it must give caveator a fair hearing before making any…

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: What is the DCF method?

A: DCF is a complex tool for valuation which approximates the value of any investment depending upon…

Q: What is the Baumol model, and how is it used?

A: The Baumol model, also known as the Baumol-Allais-Tobin (BAT) model, is a cash management model. In…

Q: What is view integration?

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

Q: In general, relevant information possesses which qualities?

A: Relevance is an important characteristic of accounting information. It refers to how helpful the…

Q: Define the term the matching principle?

A: Matching concept is an accounting principle which explains the need to match revenue with the…

Q: Which qualitative characteristic is an ingredient of relevance? O understandability O materiality O…

A: Answer

Q: What are the major inputs to the MRP system?

A: The preparation of material requirements planning (MRP) is a method for measuring the materials and…

Q: What is SAVANT Framework and what do you understand about it?

A: SAVANT stands for strategy, anticipation, value-adding, negotiating, and transforming. It was…

Q: Why are the realization and matching principles important? Only the importance

A: Accounting principles: These are the assumption, concepts, and guidelines necessary to prepare and…

Q: Why is the content of a proxy statement considered to be so important?

A: Importance of content of a proxy statement: Most of the significant actions undertaken by a company…

Q: What are the types of fundamental analysis?

A: Fundamental analysis basics is the analyzing method used to evaluate the intrinsic value of stocks…

Q: What are the main components of DU pont Analysis? Explain.

A: Introduction Dupont analysis Dupont system of analysis is an approach that can be used to analyse…

Q: What do you understand by IFRS?

A: Financial reporting: Financial reporting is a process of preparing reports which disclose financial…

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: What is managments primary goal?

A: The management’s primary goal is to increase the wealth of the shareholders or the owners.

Audit Procedures

Audit Procedures are methods and techniques performed by the auditor to determine the quality of financial information of clients, thereby expressing an opinion on true & fair view of financial statements and entity position. They are identified and applied at the planning stage of audit after determining audit objectives, scope, approach, and risk assessment.