The accrual basis of accounting creates the need for a statement of cash flows. Explain.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 69% (13 reviews)
The amount of revenue recognized equals the amount of cash the firm expects to collect from customer...View the full answer
Answered By
Benish Ahmad
I'm a professional software engineer. I'm lectutrer at GCUF and I have 3 years of teaching experience. I'm looking forward to getting mostly computer science work including:
Programming fundamentals
Object oriented programming
Data structures
object oriented design and analysis
Database system
Computer networks
Discrete mathematics
Web application
I am expert in different computer languages such as C++, java, JavaScript, Sql, CSS, Python and C#. I'm also have excellent knowledge of essay writing and research. I have worked in other Freelancing website such as Fiverr and Upwork. Now I have finally decided to join the SolutionInn platform to continue with my explicit work of helping dear clients and students to achieve their academic dreams. I deliver plagiarism free work and exceptional projects on time. I am capable of working under high pressure.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1337614689
9th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Question Posted:
Students also viewed these Accounting questions
-
The guiding principles underlying the accrual basis of accounting drive a wedge between a firms reported income and its cash flow. What are some of the reasons for the differences in net income and...
-
Does the cash basis or the accrual basis of accounting provide a better indication of the operating performance of Mostert Music Company in March? Explain. Identifying Revenues Revenues are normally...
-
The accrual basis of accounting implicitly assumes that the firm will continue to operate well into the future such that the result of incomplete transactions will be completed or concluded. This...
-
What is the type of the expressions computed on these two lines? 4 > 5 print (4>5)
-
On January 1, 2014, Perini Company purchased an 85% interest in Silvas Company for $400,000. On this date, Silvas Company had common stock of $90,000 and retained earnings of $210,000. An examination...
-
Express each of the following as a percent. 7/200
-
Modifying default configurations to improve security is called a. encryption hardening b. patching dialing c. hardening d. war dialing
-
Evergreen Company sells lawn and garden products to wholesalers. The company's fiscal year-end is December 31. During 2011, the following transactions related to receivables occurred: Feb. 28 Sold...
-
why is bernie madoff an textbook example of deception and non-verbal communication
-
XYZ is a calendar-year corporation that began business on January 1, 2020. For the year, it reported the following information in its current-year audited income statement. Notes with important tax...
-
Nikes principal business activity involves the design, development, and worldwide marketing of high-quality footwear, apparel, equipment, and accessory products for serious and recreational athletes....
-
Describe how the statement of cash flows is linked to each of the other financial statements (income statement and balance sheet). Also review how the other financial statements are linked with each...
-
(a) What is the approximate speed relative to us of a galaxy near the edge of the known universe, some 10 Gly away? (b) What fraction of the speed of light is this? Note that we have observed...
-
What are the time complexity and space complexity of this function? int f(int n) { } int sum = 0; for(int i = 0; i < n; i=i*2) { sum += 1; } return sum;
-
Identify each cost as a period cost or a product cost. If it is a product cost, further indicate if the cost is direct materials, direct labor, or manufacturing overhead. Then, determine if the...
-
A 10 kg box is being lowered down a 24 inclined plane with a 30 N parallel pushing force directed upward toward the top of the incline. Determine: a. the parallel component of the weight F x , b. the...
-
A 500-kg roller coaster car travels with some initial velocity along a track that is 5 m above the ground. The car goes down a small hill and then coasts back up a higher hill. The second hill is 12...
-
The modulus of longitudinal wave velocity in a lead pipe is equal to 1327 m/s. We consider a series of connected lead pipes with a total length of 104 m. If we hit a hammer blow at one end, why do we...
-
Differentiate between interest rate risk and reinvestment rate risk.
-
In Exercises, find the equation of the tangent line at the given point on each curve. 2y 2 - x = 4; (16, 2)
-
What are some basic and complex measurements associated with digital marketing analytics?
-
Using the following information from the books and records of Grande Corporation, determine Grandes total sales that are subject to State Cs sales tax. Grande operates a retail general store. Sales...
-
Indicate for each transaction whether a sales (S) or use (U) tax applies or whether the transaction is nontaxable (N). Where the laws vary among states, assume that the most common rules apply. All...
-
Dread Corporation operates in a high-tax state. The firm asks you for advice on a plan to outsource administrative work done in its home state to independent contractors. This work now costs the...
-
Future value interest factor of $1 per period at i% for n periods, FVIF(i,n). 1 1.0050 1.0100 1.0150 2 1.0100 1.0201 1.0302 3 1.0151 1.0303 1.0457 4 1.0202 1.0406 5 1.0253 1.0510 1.0773 6 1.0304...
-
After extensive medical and marketing research, Pill, Inc., believes it can penetrate the pain reliever market. It is considering two alternative products. The first is a medication for headache...
-
According to BIS 117 section 2.2, what are some of the ways a tech company can close information gaps and reduce expenses? A) Reducing fixed and marginal costs of producing financial services. B)...
Study smarter with the SolutionInn App