What is one of the major differences between an economic P&L versus an accounting P&L The...
- What is one of the major differences between an economic P&L versus an accounting P&L
- The application of GAAP
- The treatment of Non-cash (eg depreciation, amortization, etc)
- The treatment of deferred revenue
- A and B
- B and C
Homework Answers
Answer: Option d is correct
Accounting profit is determined by GAAP whereas economic profit is
determined using economic principles. The treatment of non cash
items is also different in both the cases.
Add Answer to:
What is one of the major differences between an economic
P&L versus an accounting P&L
The...
What are the major differences between managerial and financial accounting?
What are the major differences between managerial and financial accounting?
Assignment Questions: 1. One of the differences between Managerial Accounting and Financial Accounting is reporting flexibility....
Assignment Questions: 1. One of the differences between Managerial Accounting and Financial Accounting is reporting flexibility. Financial reporting is restricted by Generally Accepted Accounting Principles whereas reporting in Managerial Accounting has fewer rules. a) Why is it permissible to violate Generally Accepted Accounting Principles when preparing reports used strictly by company management? b) Should external users always have the same information as internal users? Explain. 2. The United States uses accounting standards developed by the Financial Accounting Standards Board (FASB)...
what are the major differences between expenditures and expenses as used in governmental Accounting
what are the major differences between expenditures and expenses as used in governmental Accounting
What are the major differences between a web application and a windows application? What are the...
What are the major differences between a web application and a windows application? What are the advantages and disadvantages of Web-based systems and windows-based systems? Why would you use one instead of the other?
What are some of the major demographic and social-economic differences between the opioid epidemic as compared...
What are some of the major demographic and social-economic differences between the opioid epidemic as compared to prior street drug outbreaks? What are some of the policy responses to this social problem?
Discussion Questions 1. What are the major differences between managerial accounting and financial accounting? 2. a....
Discussion Questions 1. What are the major differences between managerial accounting and financial accounting? 2. a. Differentiate between a department with line responsibility and a department with staff re- sponsibility. b. In an organization that has a Sales Department and a Personnel Department, among others, which of the two departments has (1) line re- sponsibility and (2) staff responsibility? 3. What manufacturing cost term is used to describe the cost of materials that are an integral part of the manufactured...
What are the differences between the financial and managerial accounting? Discuss. Financial accounting is a language...
What are the differences between the financial and managerial accounting? Discuss. Financial accounting is a language used for communicating financial information that helps users make better economic decision. Discuss. What is meant by the accrual basis of accounting? Discuss. What are the differences between sole proprietorship, partnership, and corporations? Financial accounting information should have some characteristics in order to enhance the decision making. Discuss. Discuss how the choice of depreciation method can be used as a tool to increase reported...
What are the differences between interest payments made by a corporation versus dividend payments? From an...
What are the differences between interest payments made by a corporation versus dividend payments? From an accounting point of view.
What are the major differences between correlational studies and experimental reaserch ? What methods are used...
What are the major differences between correlational studies and experimental reaserch ? What methods are used in both what are the results etc
7. Choose the correct statement with regard to temporary differences (P). a. income tax expense r...
7. Choose the correct statement with regard to temporary differences (P). a. income tax expense reflects the GAAP treatment for T b. income tax expense reflects the income tax code treatment for T c. income tax expense reflects the GAAP treatment for P d. pretax accounting income usually equals taxable income when there are both current year P and T e corect statement with regard to temporary differences () and permanent (nontemporary) 8. The current year is 20x5 and is...
Assignment Questions: 1. One of the differences between Managerial Accounting and Financial Accounting is reporting flexibility. Financial reporting is restricted by Generally Accepted Accounting Principles whereas reporting in Managerial Accounting has fewer rules. a) Why is it permissible to violate Generally Accepted Accounting Principles when preparing reports used strictly by company management? b) Should external users always have the same information as internal users? Explain. 2. The United States uses accounting standards developed by the Financial Accounting Standards Board (FASB)...
Discussion Questions 1. What are the major differences between managerial accounting and financial accounting? 2. a. Differentiate between a department with line responsibility and a department with staff re- sponsibility. b. In an organization that has a Sales Department and a Personnel Department, among others, which of the two departments has (1) line re- sponsibility and (2) staff responsibility? 3. What manufacturing cost term is used to describe the cost of materials that are an integral part of the manufactured...
7. Choose the correct statement with regard to temporary differences (P). a. income tax expense reflects the GAAP treatment for T b. income tax expense reflects the income tax code treatment for T c. income tax expense reflects the GAAP treatment for P d. pretax accounting income usually equals taxable income when there are both current year P and T e corect statement with regard to temporary differences () and permanent (nontemporary) 8. The current year is 20x5 and is...
Most questions answered within 3 hours.
-
a) summarize the challenges facing New Britain today
b) identify some of its strengths
c) suggest...
asked 1 minute ago -
**86 at 40 not 88. please show how got Tr in calculations thank
you
2) The...
asked 2 minutes ago -
McGlaun Company pays its employees every two weeks. The firm
last paid its employees on September...
asked 15 minutes ago -
You have been gifted a Mogwai as a pet and decide to do a little
online...
asked 20 minutes ago -
given the standard of 200 mg/dl and the absorbance of that
standard is 0.640. What is...
asked 23 minutes ago -
Exercise 8-51 Algo
An accounting professor is notorious for being stingy in giving
out good letter...
asked 31 minutes ago -
month
total distribution cost
level of activity (unit produced)
july
230.000
3500
august
250.000
3750
september...
asked 32 minutes ago -
A smoke detector system uses two devices, A and B. If smoke is
present, the probability...
asked 1 hour ago -
Your division head has assigned another important project to you
and your team. This project is...
asked 45 minutes ago -
Under normal use conditions, the Mean Time To Failure of a
heating coil can be modeled...
asked 1 hour ago -
Consider the probability that fewer than 34 out of 116 CDs will
be defective. Assume the...
asked 1 hour ago -
4J Manufacturing Company uses a job order cost accounting system
and keeps perpetual inventory records. Prepare...
asked 49 minutes ago