1. Branch of accounting that deals with external reporting: a. Financial Accounting b. Management Accounting c....
1. Branch of accounting that deals with external reporting:
a. Financial Accounting
b. Management Accounting
c. Tax Accounting
Homework Answers
Answer:
Correct option is a. Financial Accounting.
Explanation:
Financial accounting is accounting which involves classifying , analysis , preparing and presenting of financial statements for internal and external stakeholders.
So we can say Branch Accounting that deals with external reporting is a financial accounting.
Add Answer to:
1. Branch of accounting that deals with external reporting:
a. Financial Accounting
b. Management Accounting
c....
For financial accounting and external reporting purposes, all selling and administrative expenses are treated as
For financial accounting and external reporting purposes, all selling and administrative expenses are treated as
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)...
Cost accounting differs from financial accounting in that financial accounting:
Cost accounting differs from financial accounting in that financial accounting:a. Provides the additional information required for special reports to management.b. Is mostly concerned with external financial reporting.c. Is mostly concerned with individual departments of the company.d. Puts more emphasis on future operations.
"Management accounting deals only with costs. Do you agree? Explain. O A. Yes Management accounting only...
"Management accounting deals only with costs. Do you agree? Explain. O A. Yes Management accounting only measures, analyzes and reports financial and nonfinancial information relating to the costs of acquiring or using in an organization OB. No Management accounting only analyzes the manufacturing of products for customers in order to assess product and customer profitability O C. No Management accounting does not use cost information, it only records financial activities of the company in accordance with GAAP OD. No. Management...
1. Accounting is a branch of applied economics and provides information about business and financial transactions...
1. Accounting is a branch of applied economics and provides information about business and financial transactions to users to facilitate resources allocation decisions. What distinguishes international accounting? 2. The importance of international accounting is growing. Within financial innovations, risk management is a key area. List three concerns that are critical for effective risk management.
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)...
Managerial accounting differs from financial accounting in that financial accounting is
Managerial accounting differs from financial accounting in that financial accounting isa) More oriented toward the futureb) Primarily concerned with external financial reportingc) Related to nonquantitative informationd) Heavily involved with decision analysis and implementation of decisions
Management of an organization has the responsibility for all of the following except A. preparing financial...
Management of an organization has the responsibility for all of the following except A. preparing financial statements and disclosures B.designing and assessing internal controls over financial reporting C. applying accounting principles used in financial reporting D. hiring an external auditor
The primary goal of managerial accounting is to provide information to a. external auditors b. management...
The primary goal of managerial accounting is to provide information to a. external auditors b. management c. creditors d. investors
All of the above Question 9 Financial reporting primarily deals with: O Future transactions such as...
All of the above Question 9 Financial reporting primarily deals with: O Future transactions such as projecting outcomes and preparing budgets Transactions that have already occurred O Both transactions that have already occurred and certain future transactions DQuestion 10 1 pts
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)...
"Management accounting deals only with costs. Do you agree? Explain. O A. Yes Management accounting only measures, analyzes and reports financial and nonfinancial information relating to the costs of acquiring or using in an organization OB. No Management accounting only analyzes the manufacturing of products for customers in order to assess product and customer profitability O C. No Management accounting does not use cost information, it only records financial activities of the company in accordance with GAAP OD. No. Management...
1. Accounting is a branch of applied economics and provides information about business and financial transactions to users to facilitate resources allocation decisions. What distinguishes international accounting? 2. The importance of international accounting is growing. Within financial innovations, risk management is a key area. List three concerns that are critical for effective risk management.
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)...
Management of an organization has the responsibility for all of the following except A. preparing financial statements and disclosures B.designing and assessing internal controls over financial reporting C. applying accounting principles used in financial reporting D. hiring an external auditor
All of the above Question 9 Financial reporting primarily deals with: O Future transactions such as projecting outcomes and preparing budgets Transactions that have already occurred O Both transactions that have already occurred and certain future transactions DQuestion 10 1 pts
Most questions answered within 3 hours.
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