a. Information is factual and is characterized by objectivity, reliability, consistency, and accuracy. Financial accountingselected answer correct b. Information is reported continuously and has a current or future orientation. Managerial accountingselect
Indicate whether each of the following items is representative of managerial or of financial accounting.
Homework Answers
a. Information is factual and is characterized by objectivity, reliability, consistency, and accuracy. -Financial accounting b. Information is reported continuously and has a current or future orientation. -Managerial accounting c. Information is provided to outsiders, including investors, creditors, government agencies, analysts, and reporters. -Financial accounting d. Information is regulated by the SEC, FASB, and other sources of GAAP. -Financial accounting e. Information is based on estimates that are bounded by relevance and timeliness. -Managerial accounting f. Information is historically based and usually reported annually. -Financial accounting g. Information is local and pertains to subunits of the organization. -Managerial accounting h. Information includes economic and nonfinancial data as well as financial data. -Managerial accounting i. Information is global and pertains to the company as a whole. -Financial accounting j. Information is provided to insiders, including executives, managers, and employees. -Managerial accounting |
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a. Information is factual and is characterized by objectivity, reliability, consistency, and accuracy. Financial accountingselected answer correct b. Information is reported continuously and has a current or future orientation. Managerial accountingselect
Indicate whether each of the following items is representative of managerial or of financial accounting: Information...
Indicate whether each of the following items is representative of managerial or of financial accounting: Information is factual and is characterized by objectivity, reliability, consistency, and accuracy. Information is reported continuously and has a current or future orientation. Information is provided to outsiders, including investors, creditors, government agencies, analysts, and reporters. Information is regulated by the SEC, FASB, and other sources of GAAP. Information is based on estimates that are bounded by relevance and timeliness. Information is historically based and...
[A Financial accounting information and managerial accounting information have a number of distinguishing characteristics. To submit...
[A Financial accounting information and managerial accounting information have a number of distinguishing characteristics. To submit your answer, number your answer space 1 through 10 (corresponding to the numbering of the items below). For each of the characteristics listed below, indicate which characteristics are more closely related to financial accounting by placing the letter "F" in the space to the left of the item and indicate those characteristics which are more closely associated with managerial accounting by placing the letter...
A Financial accounting information and managerial accounting information have a number of distinguishing characteristics. To submit...
A Financial accounting information and managerial accounting information have a number of distinguishing characteristics. To submit your answer, number your answer space 1 through 10 (corresponding to the numbering of the items below). For each of the characteristics listed below, indicate which characteristics are more closely related to financial accounting by placing the letter "F" in the space to the left of the item and indicate those characteristics which are more closely associated with managerial accounting by placing the letter...
For each of the following users of financial securing information and managerial accounting information, specify whether...
For each of the following users of financial securing information and managerial accounting information, specify whether the user would primarily use financial accounting information or managerial accounting information or both 1. 2. Financing omation Managerial courting information Financiering information 3. 4 Reporter from The Wall Street Journal Regional division managers Portwestors Bookkeeping Department Manager of the Service Department Wala analyst Division contre Stax agency auctor Extems auditor puble scoring firm Loan officer at the company's bar Mararicoring information Francong information...
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....
4. Нер IOC 14-1 Sources of accounting information LO C1 Save & Ext Suba Both managerial...
4. Нер IOC 14-1 Sources of accounting information LO C1 Save & Ext Suba Both managerial accounting and financial accounting provide useful information to decision makers. Indicate in the following table the primary source of information for each business decision. Business Decision Primary Information Source Managerial 1. Determine location and size for a new plant 2. Determine whether to buy another compagy's stock 3. Determine whether to expand into a new market Evaluate a purchasing department's performance 5. Prepare budgets...
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...
All the following are differences between financial and managerial accounting in how accounting information is used...
All the following are differences between financial and managerial accounting in how accounting information is used except to a. plan and control company's operations. b. decide whether to invest in the company. c. evaluate borrowing capacity to determine the extent of a loan to grant. d. All the answer choices are correct.
Indicate whether each of the following items will be reported on the statement of financial position...
Indicate whether each of the following items will be reported on
the statement of financial position (SFP), statement of income
(SI), both the statement of financial position and statement of
income (B), or neither statement (N)—for example, it might appear
only on the statement of cash flows.
Indicate whether each of the following items will be reported on the statement of financial position (SFP), statement of income (SI), both the statement of financial position and statement of income (B), or...
The following information was taken from Finch Corporation's SEC filings. Number of employees Revenues (in millions)...
The following information was taken from Finch Corporation's SEC filings. Number of employees Revenues (in millions) Properties (in thousands) Total assets (in millions) Company-owned stores Net earnings (in millions) Fiscal Year Ended October 1, 2017 October 2, 2016 312,000 268,000 $ 33,587 $ 32,516 6,532 square feet 6,487 square feet $ 14,604 $ 14,551 30, 775 12,886 $ 4,985 $ 4,918 Required a. Indicate whether each line of information in the table above would best be described as being primarily...
[A Financial accounting information and managerial accounting information have a number of distinguishing characteristics. To submit your answer, number your answer space 1 through 10 (corresponding to the numbering of the items below). For each of the characteristics listed below, indicate which characteristics are more closely related to financial accounting by placing the letter "F" in the space to the left of the item and indicate those characteristics which are more closely associated with managerial accounting by placing the letter...
A Financial accounting information and managerial accounting information have a number of distinguishing characteristics. To submit your answer, number your answer space 1 through 10 (corresponding to the numbering of the items below). For each of the characteristics listed below, indicate which characteristics are more closely related to financial accounting by placing the letter "F" in the space to the left of the item and indicate those characteristics which are more closely associated with managerial accounting by placing the letter...
For each of the following users of financial securing information and managerial accounting information, specify whether the user would primarily use financial accounting information or managerial accounting information or both 1. 2. Financing omation Managerial courting information Financiering information 3. 4 Reporter from The Wall Street Journal Regional division managers Portwestors Bookkeeping Department Manager of the Service Department Wala analyst Division contre Stax agency auctor Extems auditor puble scoring firm Loan officer at the company's bar Mararicoring information Francong information...
4. Нер IOC 14-1 Sources of accounting information LO C1 Save & Ext Suba Both managerial accounting and financial accounting provide useful information to decision makers. Indicate in the following table the primary source of information for each business decision. Business Decision Primary Information Source Managerial 1. Determine location and size for a new plant 2. Determine whether to buy another compagy's stock 3. Determine whether to expand into a new market Evaluate a purchasing department's performance 5. Prepare budgets...
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...
Indicate whether each of the following items will be reported on
the statement of financial position (SFP), statement of income
(SI), both the statement of financial position and statement of
income (B), or neither statement (N)—for example, it might appear
only on the statement of cash flows.
Indicate whether each of the following items will be reported on the statement of financial position (SFP), statement of income (SI), both the statement of financial position and statement of income (B), or...
The following information was taken from Finch Corporation's SEC filings. Number of employees Revenues (in millions) Properties (in thousands) Total assets (in millions) Company-owned stores Net earnings (in millions) Fiscal Year Ended October 1, 2017 October 2, 2016 312,000 268,000 $ 33,587 $ 32,516 6,532 square feet 6,487 square feet $ 14,604 $ 14,551 30, 775 12,886 $ 4,985 $ 4,918 Required a. Indicate whether each line of information in the table above would best be described as being primarily...
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