Answer to: Briefly explain the nature of accounting. By signing up, you'll get thousands of step-by-step solutions to your homework questions. You...
The two major fields of accounting are described below: 1) Management Accounting: The users of management accounting are not outsiders but insiders... Learn more about this topic: Financial & Managerial Accounting | Overview & Differences
In theory, constructing a CPI is simple but there are the following practical problems: The choice of a base year The selection of a representative basket of goods The weighting to the selected items No consideration given to the quality of the item Problem with the accuracy an...
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 w...
Write a short paragraph to explain the concept of depreciation as used in accounting. Explain how to calculate and record depreciation expense under the units-of-activity method. 1. Describe the purpose of depreciation (or cost recovery) deductions. 2. Give an example o...
Question 3 A)Brieflyexplain theformalcommunication channels and spontaneous communication channels? * Communication channels Messages are transmitted through channels of communication channels as discussed. *Formalcommunication channels‚ follows the chain of command and is reco...
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 Briefly Deferred shares. Define or describe the following term: Financial leverage. Management accounting has been described as the eyes and ears of management. What do you think this expression means? Discuss why management is ultimately responsible for the information contained in the financia...
Explain them. What is the purpose of holding inventory? Name several types of inventory and describe their purpose. What are the accounting principles and controls that relate to merchandise inventory? What are kinds of inventories? Describe efficient inventory management. In finance, what...
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....