Identify and explain types of accounting. Explain cost accounting. Explain GAAP accounting principle. Define the accounting equation and explain briefly what it entails. Explain the accounting process using a specific example. Explain in detail about History of accounting. Identify 6 accounting concepts ...
Explain the role of opportunity costs in differentiating between economic profits and accounting profits. Explain the concepts of opportunity costs and sunk costs. Give two examples for each concept. a) Explain the concepts of fixed cost versus variable cost. Also contrast the con...
GenerallyAcceptedAccountingPrinciplesSeptember 2‚ 2013 NUR/571Generallyacceptedaccountingprinciples(GAAP) is the term “used to describe the body of and requirements that shape the preparation of thefourprimary financial statements (Cleverley & Cameron‚ 2007).” These statements include the balance she...
Write a 1 page essay on the latest developments between the U.S. (SEC and FASB) and the IASB in converging accounting standards and in converging their conceptual frameworks. Explain the currency translation in IAS/ IFRS single-entity financial statements while referrin...
To ensure the record cards are correct, store personnel will then need to at least count a few inventory items every day. This is so-called “continuous count” where it is spread out over the year rather than completed in one count at a designated time....
Benefits or advantagesof decentralization: Easier for senior management to delegate responsibility if the enterprise is split into divisions. By delegating responsibility, the managers might be motivated to work harder Decisions will be made more quickly as the divisional managers ...
That helps explain why Nvidia likes to tell Wall Street about the extensive roster of companies that are building new AI services and “are racing to accelerate development of these applications with the potential for billions of agents to be deployed in the coming years,” Kress said ...
Custom Public Profile Page of Achievements Join PRO Join PRO Plus About the Author For the past 52 years, Harold Averkamp (CPA, MBA) has worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all...
country all the year round and bring warm and wet air from the Atlantic Ocean. Thirdly, Britain is suiTounded by seawaters, which can balance the seasonal differences by heating up the land in winter and cooling it off in summer. 4. What are the present features of the climate of ...
Explain how managers classify costs and how do they use this cost. Describe the purpose and elements of an effective cost accounting system. Differentiate the 3 types of cost accounting systems (job order, process, and hybrid). Include detailed descriptions of each. Question A What is...