Basic concepts in financial accounting In this unit, we turn our attention away from financial accounting and review managerial accounting. Managerial accounting uses some of the same basic concepts in financial accounting with a focus on internal users (e.g., executives, managers, supervisors). The financial reports generated by managerial accountants are usually only made available to … Read more
Duties and liabilities of accountants Discussion Question 1: Explain and discuss the differences between the “Ultramares Rule,” the “Restatement Rule,” and the “Reasonably Foreseeable Users Rule,” regarding the duties and liabilities of accountants or other professionals to third parties. o Discussion Question 2: Discuss four (4) specific provisions of the “Sarbanes-Oxley Act” and its effect … Read more
Accounting techniques Discussion Question 1: Most accountants, CEOs, and CFOs agree that it is unethical to manage earnings using accounting techniques that violate GAAP or are misleading. However, there is not a unified opinion about whether or not it’s unethical to manage earnings using management operations—for example, performing maintenance ahead of schedule in order to … Read more
Methods of depreciation What are the three methods of depreciation? Develop a chart using an example of your choice and calculate the depreciation for 4 years. How do the three methods affect the income statement and the balance sheet? Answer preview to methods of depreciation APA 340 words Get instant access to the full … Read more
Disposals of plant assets How are disposals of plant assets accounted for? How are natural resources and intangible assets accounted for? Why is this important? Answer preview to disposals of plant assets APA 317 words Get instant access to the full solution from yourhomeworksolutions by clicking the purchase button below
