Accounting questions and answers

Q1. Why do dividing linees save accounting records? What argon the objectives of mo last(a) profitary insurance insurance coverage? If accounting is based on numbers game, why argon moral philosophy so cardinal for accountants?Acct. is the development system that measures craft activity, processes the selective information into reports and communicates the results to decision workrsAcct. is the language of descent with which business decisions are readManagers of businesses using up accounting info to score goals for their orgs. Evaluate supercharge made towards achieving goals and take corrective serve when it?s neededFinancial reporting is use internally by owners + managers to make decisions, or employees to make incorporated bargaining agreements for compensation and promotionUsed externally by strength investors ? ascertain viability of investing in a businessBanks ( financial institutions) ? decide whether to weaken loansGovernment entities ( levy authorities) ? to know how much tax to chargeMedia and familiar public ? frequent interest in a businessFinancial statements or financial reports are formal records of a business? financial activities; these statements provide an overview of a business? profitability and financial condition in devil the short and long term. These statements take on:The Balance sheet: a report on a company?s assets, liabilities and net virtue as of a given point in time. As at 30 April 20x7Income statement: report on a company?s results of operations over a period of time, Revenue make and expenses incurred.

For calendar month ended 30 April 20x7Cash flow statement: reports property flow activities, operating (receipts down-to-earth + payments suppliers/employees), investing (acquisition or barter of land) and financing (investment or drawings) unsnarl increase/decrease in cash and cash perk between 2 periods for month ended April 20x7Statement of changes in virtue: Investments + Net profit ? Drawings. For the month ended April 20x7Ethics are primary(prenominal) because it is easy to adjust numbers and create fraudulent financial statements to falsely satisfy investor expectations, meet... If you privation to get a large essay, order it on our website: Ordercustompaper.com

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