Homework Answers
1. Managerial accounting applies to all kind of firms
mangerial accounting by its name is used by internal managers nature being financial and economical information.
like budgets are necessary for future business decisions but these are available to internal managers only
these information is used for any business be it manufacturing/service or be it propeitorship/partnership/company
2.pertains to subunits of the entity and may be very detailed
we have to provide special purpose information for every sub unit for every concerned manager so as to make informed decision
Add Answer to:
PREGUNTA 1 Managerial accounting applies to each of the following types of businesses except service firms....
Can someone help me with questions 1-3 please? Thanks 1.Managerial accounting information a. pertains to the...
Can someone help me with
questions 1-3 please? Thanks
1.Managerial accounting information a. pertains to the entity as a whole and is highly aggregated. b. pertains to subunits of the entity and may be very detailed. c. is prepared only once a year. d. is constrained by the requirements of generally accepted accounting principles. 2.Classifying costs by behavior with changes in volume of activity involves: Identifying fixed cost and variable cost. Identifying both quantitative and qualitative cost factors. Identifying cost...
Question 1 of 4 < > View Policies Current Attempt in Progress Managerial accounting information O...
Question 1 of 4 < > View Policies Current Attempt in Progress Managerial accounting information O is prepared only once a year. O pertains to subunits of the entity and may be very detailed. O pertains to the entity as a whole and is highly aggregated. O is constrained by the requirements of generally accepted accounting principles. e Textbook and Media Save for Later MacBook Ain Directing includes running a department under quality control standards universally accepted. developing a complex...
Condensed financial data of Pharoah Company follow. Pharoah Company Comparative Balance Sheets December 31 Assets 2020...
Condensed financial data of Pharoah Company follow. Pharoah Company Comparative Balance Sheets December 31 Assets 2020 Cash $109,700 Accounts receivable 92,200 Inventory 113,000 Prepaid expenses 29.900 Investments 139,800 Equipment 265,400 Accumulated depreciation equipment (47,200) Total $702,800 2019 $47,900 32,700 101,200 25.900 113,500 242,200 (53,000) $510,400 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $111,800 16.100 118.700 219,400 236,800 $702,800 $67.300 17.100 149,600 174,500 101.900 $510,400 Pharoah Company Question 1 of 4 View...
Which of the following statements is true about managerial accounting?
Which of the following statements is true about managerial accounting?It pertains to a business as a whole.It provides more detailed information than financial accounting does.It must be prepared using generally accepting accounting principles.It is primarily for internal users such as stockholders and managers.
Richard Larkin has prepared the following list of statements about managerial accounting and financial accounting.
Exercise 19-1Richard Larkin has prepared the following list of statements about managerial accounting and financial accounting. Identify each statement as true or false.1. Financial accounting focuses on providing information to internal users.2. Analyzing cost-volume-profit relationships is part of managerial accounting.3. Preparation of budgets is part of financial accounting.4. Managerial accounting applies only to merchandising and manufacturing companies.5. Both managerial accounting and financial accounting deal with many of the same economic events.6. Managerial accounting reports are prepared only quarterly and annually.7....
Managerial accounting information includes all of the following except: Multiple Choice budgets. performance evaluations for example budget-to-actual reports cost reports....
Managerial accounting information includes all of the following except: Multiple Choice budgets. performance evaluations for example budget-to-actual reports cost reports. ports. financial statements prepared in accordance with generally accepted accounting principles.
Indicate whether the following statements describe financial accounting or managerial accounting.
Take me to the textIndicate whether the following statements describe financial accounting or managerial accounting.Largely based on forecasting future sales and cash flows, calculating costs and preparing budgets.is concerned with collecting data of historical nature.Reports are very detailed and provide a wealth of information.Must follow Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) set by professional bodies.Primarily prepared for external users such as creditors and stockholders so that they can make sound financial or investment decisions.Does not...
rious 1-35. Match the following definitions (or partial definitions) of the various types of services to...
rious 1-35. Match the following definitions (or partial definitions) of the various types of services to the appropriate term. Each term may be used once or not at all. Definition (or Partial Definition) Service A government agency authorized to regulate companies seeking approval to issue securities for sale to the public. a. American Institute of Certified Public Accountants 1. b. A representation or declaration made by the responsible party typically management of the entity 2. Assertion 3. Financial Accounting 4....
B) Multiple choices: 60 points: for each statement circle the best answer. 1) The three requirements...
B) Multiple choices: 60 points: for each statement circle the best answer. 1) The three requirements for becoming a CPA include all but which of the following A) Uniform CPA examination requirement B) Educational requirements C) Character requirements D) Experience requirement 2) The International Standards on Auditing (ISAs) A) are issued by the AICPA B) override a country's regulations governing the audit of a company C) has many of the same standards as the Auditing Standards Board (ASB) D) must...
Showtime Sound & Lighting (SSL) Inc. is one of three small businesses owned by Tom Smith....
Showtime Sound & Lighting (SSL) Inc. is one of three small businesses owned by Tom Smith. SSL’s line of business is centered on providing services for the local entertainment industry as well as other organizations such as civic groups and churches in need of support for large gatherings. SSL’s services range from simple DJ services to rental and sale of audio, video, and lighting equipment. Support may be provided on either a continuous or a one-time basis. SSL has noticed...
Can someone help me with
questions 1-3 please? Thanks
1.Managerial accounting information a. pertains to the entity as a whole and is highly aggregated. b. pertains to subunits of the entity and may be very detailed. c. is prepared only once a year. d. is constrained by the requirements of generally accepted accounting principles. 2.Classifying costs by behavior with changes in volume of activity involves: Identifying fixed cost and variable cost. Identifying both quantitative and qualitative cost factors. Identifying cost...
Question 1 of 4 < > View Policies Current Attempt in Progress Managerial accounting information O is prepared only once a year. O pertains to subunits of the entity and may be very detailed. O pertains to the entity as a whole and is highly aggregated. O is constrained by the requirements of generally accepted accounting principles. e Textbook and Media Save for Later MacBook Ain Directing includes running a department under quality control standards universally accepted. developing a complex...
Condensed financial data of Pharoah Company follow. Pharoah Company Comparative Balance Sheets December 31 Assets 2020 Cash $109,700 Accounts receivable 92,200 Inventory 113,000 Prepaid expenses 29.900 Investments 139,800 Equipment 265,400 Accumulated depreciation equipment (47,200) Total $702,800 2019 $47,900 32,700 101,200 25.900 113,500 242,200 (53,000) $510,400 Liabilities and Stockholders' Equity Accounts payable Accrued expenses payable Bonds payable Common stock Retained earnings Total $111,800 16.100 118.700 219,400 236,800 $702,800 $67.300 17.100 149,600 174,500 101.900 $510,400 Pharoah Company Question 1 of 4 View...
Managerial accounting information includes all of the following except: Multiple Choice budgets. performance evaluations for example budget-to-actual reports cost reports. ports. financial statements prepared in accordance with generally accepted accounting principles.
Take me to the textIndicate whether the following statements describe financial accounting or managerial accounting.Largely based on forecasting future sales and cash flows, calculating costs and preparing budgets.is concerned with collecting data of historical nature.Reports are very detailed and provide a wealth of information.Must follow Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) set by professional bodies.Primarily prepared for external users such as creditors and stockholders so that they can make sound financial or investment decisions.Does not...
rious 1-35. Match the following definitions (or partial definitions) of the various types of services to the appropriate term. Each term may be used once or not at all. Definition (or Partial Definition) Service A government agency authorized to regulate companies seeking approval to issue securities for sale to the public. a. American Institute of Certified Public Accountants 1. b. A representation or declaration made by the responsible party typically management of the entity 2. Assertion 3. Financial Accounting 4....
B) Multiple choices: 60 points: for each statement circle the best answer. 1) The three requirements for becoming a CPA include all but which of the following A) Uniform CPA examination requirement B) Educational requirements C) Character requirements D) Experience requirement 2) The International Standards on Auditing (ISAs) A) are issued by the AICPA B) override a country's regulations governing the audit of a company C) has many of the same standards as the Auditing Standards Board (ASB) D) must...
Most questions answered within 3 hours.
-
Identify and assess an intrapreneurial
opportunities within Bank of America and
intrapreneurial assessment. Assess its impact...
asked 3 minutes ago -
How do I figure out the range of possible numbers that can be
represented by the...
asked 5 minutes ago -
A 0.48-kg metal sphere oscillates at the end of a vertical
spring. As the spring stretches...
asked 8 minutes ago -
If a block of Si is doped with 10^17 Boron atom/cm^3 and 5X10^16
Arsenic atoms/cm^3,
(a)...
asked 35 minutes ago -
Why would natural selection not minimize costs (in the form of
symptoms) of evolved defenses? (choose...
asked 53 minutes ago -
What is true about a critical task?
Latest finish time - latest start time = 0...
asked 55 minutes ago -
A company uses a
process costing system. Its Assembly Department's beginning
inventory consisted of 56,800 units,...
asked 55 minutes ago -
a
sealed glass cylinder contains 325 g of N2 gas at 1.02 atm at 20 c....
asked 59 minutes ago -
The main difference between an equity and a nonequity alliance
is that
A
equity alliances are...
asked 57 minutes ago -
Need help with this, in JAVA, using netbeans. A
complete response will receive a positive comment...
asked 1 hour ago -
An imprest petty cash fund of $600 was established for minor
disbursements. At the end of...
asked 1 hour ago -
Sharpe Cutter is a small company that produces specialty knives
for paper cutting machinery. The annual...
asked 1 hour ago