3.What are the conditions for issuing a report modification and give examples

Q: Identify each statement as true or false. If false, indicate how to correct the statement.

A: Hi thanks for the question. The question has multiple sub parts. As per the company guidelines…

Q: Match each concept in Column A with a definition or example in Column B.

A: Matching the definition with the examples presented in column B.

Q: List and explain two important criteria that must be satisfied in order for information to be…

A: Relevant information:   Decision making process requires an understanding of a grasp of illegal…

Q: Which among the following is a time-related attribute of good information? a. Order b. Brevity c.…

A: Introduction:- The following characteristics of quality information as follows:- Accuracy Relevance…

Q: Describe the situations that constitute a change in reporting entity.

A: A change in the reporting entity is referred to as the change in the combination of the companies…

Q: Which type of plan is used to manage an event that has reoccurrence? a. Rules b. Single Use Plan c.…

A: There are various types of plans which are prepared by business organization so that decisions can…

Q: Explain the difference between external events and internal events. Give an example of each type of…

A: An Accounting event is a transaction that is recorded in the books of accounts of the company. There…

Q: Read and interpret anincome statement.

A: It shows the income generated by the company.

Q: Determine which of the segments are reportable and not reportable. Support your answers.

A: CC Co.  engaged in manufacturing and selling garments earlier reported upon the segments as men's…

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: Ratios are an input into which step in the fi nancial statement analysis framework? C .…

A: Ratio analysis is a quantitative approach of looking at the financial statements such as the balance…

Q: Fill in the blank. ______ standards reflect what is expected to occur.

A: Standards are a set of rules that define the threshold of any activity. In accounting, there are…

Q: Describe direct and indirect mehods of reporting.

A: Statement of cash flows: Statement of cash flow is a financial statement that shows the cash and…

Q: All of the following are essential requirement of good report writing except one. O a. Cost…

A: A report is a written document that shows information in an organized way using a specific format…

Q: What is an updated report?

A: Report: It can be defined as a document that provides the information to a specified group of people…

Q: 3- Implementation of planned decisions and evaluating performance is classified as: a. Evaluation…

A: Planning is very important and initial step of business process. This shows what needs to be done,…

Q: ) Which among the following form of reporting is best suited for comparison? a. Descriptive form b.…

A: In accounting, report refers to the statement which presents the data of a company or financial…

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: B. Working trial ba C. Control accoun

A: The correct answer is  a. Lead schedule

Q: describe the steps in the fi nancial statement analysis framework.

A: Introduction: The analysis of financial statements refers to the method of reviewing and evaluating…

Q: This focuses on what happens. a. Technical analysis b. Fundamental analysis c. Both fundamental and…

A: Technical analysis focus on the movement of the stock price and use that data to predict the future…

Q: 20-An information is relevant if it has the ability to. a. Give historical data b. Be uncertain c.…

A: Information is combination of facts that is provided to various stakeholders for their use.…

Q: FASB process of coding and issuing pronouncements.

A:

Q: Compare and explain the data presented

A: Solution Working note Presentation in tabular form   2019 2020 Total assets 1141044000…

Q: Subsequent events – meaning, types, and auditors responsibility on treating each type?

A: An independent auditor's report is generally issued which is connected to historical financial…

Q: appear in the table of contents of the complete report.

A: Management Report - To track your business's performance successfully, you need to have clear goals…

Q: Explain Change in Reporting Entity.

A: A reporting entity is an entity whose general-purpose financial report is used by its users to have…

Q: Differentiate between letters, memo and report?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: Can a turnaround document contain information that is subsequently used as a source document? Why or…

A:

Q: Explain how a Requirements Breakdown Structure (RBS) is typically constructed. What information does…

A: Necessities are conditions or assignments that should be tended to and finished to be acknowledged…

Q: What are the different BIR forms and describe and identify the deadline for submission of each form.…

A: Bureau of Internal Revenue (BIR) refers to the body which is helping various forms of the business,…

Q: What is a MIS report, why is it  prepared?

A: MIS is Management Information System. Management information system is an integrated collection of…

Q: How to make trial balance

A: Trial balance is a statement which shows balances of ledger accounts indicating the debit and credit…

Q: What information is provided by this statement?  Describe the steps to create the statement - choose…

A: In this question, the name of the statement is not given, It is assumed as statement of cash flows…

Q: a) Define the term contra entries?

A: Hi student Since there are multiple questions, we will answer only first question.

Q: Solve the question step-by-step with comprehensive explanation where required.

A: Rate of return consists of two parts capital gains and dividend YEILD. Capital gains are increase in…

Q: Please provide the introductory part and answer for question D.

A: Additional paid-up capital refers to money that investors paid above and beyond the par value price…

Q: 5. Which of the following statements is corrèct? I. The Conceptual Framework sets out the standards…

A: Solution Note : As per the Q&A guideline we are required to answer the first question only .…

Q: Which of the following management assertions is not associated with classes of transactions and…

A: Rights and obligations represent that the company has the right to use the assets and obligation to…

Q: Is it a turnaround document contain information that subsequently used as a source    document?…

A:

Q: Distinguish between managerial and financial accounting on

A: Basis Financial Accounting Managerial Accounting User and decision maker Outsiders like investors,…

Q: 16. Which form of the report should be in proper format with suitable headings, sub-headings, and…

A: Answer: Concept: The reports are presentable in different formats. 1. Graphical 2. Tabular 3.…

Q: Prepare reversing entries and explain their purpose.

A: Hi define reversing entries and explain their purpose is considered as question.

Q: 2. Information that is capable of making a difference in the decisions made by users has this…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: Describe ONE (1) substantive procedure that could be used to verify the existence and rights and…

A: The Substantive procedures can be refers to the methods or the audit tests formed or designed by an…