Determine when and what types of information must be disclosed for geographic areas.

Q: Define specific identification

A: Method of Inventory: Inventory refers to the current assets that a company expects to sell during…

Q: What information is each type of document supposed to provide?

A: Answer: There are different types of documents which provide various information.

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: 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: The FOB term is used with an identified physical location to determine_

A: FOB (Free On Board) is the term used to indicate who is responsible for the  goods if it is  damaged…

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: What functions does the FASB perform?

A: FASB :                          FASB is defined as "The Financial Accounting Standards Board" is a…

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: Define agency relationship

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

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: Define the term internal users.

A: Internal users are people within a business organization who use financial information. Examples of…

Q: Explain relaxed policy (current assets)

A: Relaxed Policy is just something contrary to a restricted approach.

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: Describe the mission of the FASB.

A: Financial Accounting Standards Board (FASB): FASB is an independent 7 member board, of accounting…

Q: Required: Prepare the entries to be made by the agency.

A: As per IFRS 9 "Financial Instruments", an organization shall measure a financial asset or financial…

Q: What can be understood from Integrated disclosure system.

A: Integrated disclosure system: It is an update in the security exchange commission’s guidelines to…

Q: How are FASB preliminary views and FASB exposure drafts related to FASB “statements”?

A: Financial accounting standards board (FASB): The FASB is an independent, designated, and non-profit…

Q: Explain how copmany approch to planing and its mission can be translated inti action plans

A: Planning: Planning refers to the process which helps in bridging the gap between the point the…

Q: explain the specific identification approach

A: Introduction:   Inventory valuation is an accounting practice used by businesses to determine the…

Q: Where is the IASB located?

A: International Accounting Standards Board (IASB): IASB is the board which frames, develops, approves,…

Q: Define restricted policy (current assets)

A: The assets which are liquidated and converted in cash within a time period of one year and less than…

Q: Define external, external-internal, and internal documentary evidence.

A:

Q: termine ACA and TCSA of the entity? Provide example to explain your answer.​

A: ACA and TCSA-: The capital profit (made in the CGT incident L3) is comparable to the difference…

Q: Describe the mission of the IASB.

A: The International Accounting Standards Board (IASB) is an independent, private-sector body that…

Q: What disclosures are required For areas determined to be reportable operating segments?

A: Definition: Operating segment: Operating segments are different business verticals of a company that…

Q: Make a list and indicate the titles and descriptions of the current IASs and IFRSs .

A: List of International Financial Reporting Standards (IFRS) IAS 1 Presentation of Financial…

Q: In addition to EPS numbers themselves, what additional disclosures should be provided concerning the…

A: Earning per share (EPS) refers to the measure of earnings that are available to each share in a…

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: Which method(s) are required for external reporting? For internal reporting?

A:

Q: What major types of items are reported in the retainedearnings statement?

A:

Q: give practical examples.

A: Appropriation account: Appropriation account is a account prepared for the partnership firm and…

Q: (a) Draft a core Mission and Vision for HHG and justify it in relation to the background information…

A: Mission To provide reliable, high quality service using the latest medical techniques and highly…

Q: signated resources.

A: Board-designated funds refer to those funds or assets which are restrictions free from the donor's…

Q: Which methods are for setting standards?         analysis of historical data         task analysis…

A: The question is multiple choice question.The standards are always set by keeping in view the past…

Q: Methods and rules to be followed in case of reconstitution?

A: Solution- It is often noticed that a partnership firm undergoes restructuring. These changes are…

Q: COA needs to journalize the appropriation and allotment released by DBM. * true or false?

A: The government uses a different way to report their financial statements than the private sector…

Q: Identify and analyze the challenges you may face in reconciling the concept Bill of Lading and…

A: SOLUTION- Document of title:   Document of title refers to an instrument in writing that acts as…

Q: Define specific identification method

A: Define specific identification method?

Q: What is interim reporting?

A: Financial Reporting:   It refers to the disclosure of the financial results of the organization to…