All Matches

Solution Library

Expert Answer

Textbooks

Search Textbook questions, tutors and Books

Oops, something went wrong!

Change your search query and then try again

Result Not Found

Books FREE
Tutors
Study Help
Hire a Tutor
AI Study Help New

Search
Sign In
Register

study help
business
accounting

Questions and Answers of Accounting

Describe what is meant by a ‘qualified audit report’ illustrating your answer with appropriate examples.
Suggest ten items that should be disclosed in a listed company’s periodic summary statement.
Accounting ratios are only as good as the data on which they are based.’ Discuss.
How far do you accept the argument that the return on capital employed ratio can give a misleading impression of an entity’s profitability?
Is ratio analysis useful in understanding how an entity has performed?
You are presented with the following information relating to three companies:Required:Calculate the following accounting ratios:(a) Return on capital employed(b) Capitalgearing.
The following information relates to Helena Limited:Required:Calculate the following accounting ratios for each of the five years from 30 April 2008 to 2012 inclusive:(a) Gross profit(b) Mark-up(c)
You are presented with the following information relating to Hedge public limited company for the year to 31 May 2011:1. The company has an issued and fully paid share capital of £500,000 ordinary
The following information relates to Style Limited for the two years to 30 June 2011 and 2012 respectively:Required:(a) Calculate the following accounting ratios for the two years 2011 and 2012
Examine the prospects of one set of accounting standards being applicable on a worldwide basis.
Assess the likely future of the UK’s Accounting Standards Board?
Explain why revenue recognition is a major problem in financial reporting.
Discuss the relationship between a company’s external auditor and its directors.
Accountants stifle managerial initiative and enterprise.' Discuss.
Do you think that auditors should be responsible for detecting fraud?
The following statement was made by a student: 'I cannot understand why accountants have such a high status and why they have so much influence.' How would you respond to such assertions?
State briefly the main reasons why a company may employ a team of accountants.
Why does a limited liability company have to engage a firm of external auditors?
Assume that you are a personnel officer in a manufacturing company, and that one of your employees is a young engineering manager called Joseph Sykes. Joseph has been chosen to attend the local
Clare Wong spends a lot of her time working for a large local charity. The charity has grown enormously in recent years and the trustees have been advised to overhaul their accounting procedures.
Do you think that when a set of financial accounts is being prepared, neutrality should override prudence?
The law should lay down precise formats, contents and methods for the preparation of limited liability company accounts. Discuss.
The Accounting Standards Board bases its Financial Reporting Standards on what is sometimes called a 'conceptual framework'. How far do you think that this approach is likely to be successful? In
The following is a list of problems which an accountant may well meet in practice.(a) The transfer fee of a footballer.(b) Goods are sold in one period but the cash for them is received in a later
FRS 18 (accounting policies) states that profits shall be treated as realized and included in the profit and loss account only when the cash due 'can be assessed with reasonable certainty' (para.
The adoption of the realization and matching rules in preparing financial accounts requires a great deal of subjective judgment.Required:Write an essay examining whether it would be fairer, easier
Do you think that non-accounting managers need to know anything about double-entry book-keeping?
My accountant has got it all wrong, argued Freda. She's totally mixed up all her debits and credits.'But what makes you say that?' queried Dora.'Oh! I've only to look at my bank statement to see that
Double-entry book-keeping is a waste of time and money because everything has to be recorded twice. Discuss.
Corby is in business as a retail distributor. The following is a list of his transactions for March 2012:1 Goods purchased from Smith on credit.2 Corby introduces further capital in cash into the
Davies buys and sells goods on cash and credit terms. The following is a list of her transactions for April 2010:1 Capital introduced by Davies paid into the bank.2 Goods purchased on credit terms
The following transactions relate to Gordon's business for the month of July 2011:1. Bought goods on credit from Watson.2. Sold some goods for cash.3. Sold some goods on credit to Moon.4. Sent a
Harry started a new business on 1 January 2012. The following transactions cover his first three months in business:1. Harry contributed an amount in cash to start the business.2. He transferred some
The transactions listed below relate to Ken's business for the month of November 2012:1.11.12 Started the business with £150,000 in cash.2.11.12 Transferred £14,000 of the cash to a business bank
Brian started in business on 1 January 2012. The following is a list of his transactions for his first month of trading:1.1.12 Opened a business bank account with £25,000 obtained from private
An accounts clerk has compiled Trent's trial balance as at 31 March 2010 as follows:Required:Compile Trent's corrected trial balance as at 31 March2010.
Donald’s transactions for the month of March 2012 are as follows:Cash receipts ............... £Capital contributed ............6 000Sales to customers .............3 000Cash paymentsGoods for
Explain why an increase in cash during a particular accounting period does not necessarily mean that an entity has made a profit.
The differentiation between so-called capital and revenue expenditure is quite arbitrary and unnecessary.' Discuss.
How far does a balance sheet tell users how much an entity is worth?
Depreciation methods and rates should be prescribed by law.' Discuss.
Explain why it is quite easy to manipulate the level of gross profit when preparing a trading account.
How far is it possible for an entity to build up hidden amounts of profit (known as secret reserves) by making some adjustments in the profit and loss account for bad and doubtful debts?
The following trial balance has been extracted from Jody's books of account as at 30 April 2012:Required:Prepare Jody's trading and profit and loss account for the year to 30 April 2012 and a balance
The following trial balance has been extracted from the books of Garswood as at 31 March 2010:Required:Prepare Garswood's trading and profit and loss account for the year to 31 March 2010 and a
Pete has extracted the following trial balance from his books of account as at 31 May 2011:Required:Prepare Pete's trading and profit and loss account for the year to 31 May 2011 and a balance sheet
Rufford presents you with the following information for the year to 31 March 2011:£Purchases ...............48 000Purchases returns ............ 3 000Sales ................82 000Sales returns
Witton commenced business on 1 July 2009. The following trial balance was extracted from his books of account as at 30 June 2010:Additional information:1 Stock at 30 June 2010: Â£2000.2 The motor
The following is an extract from Barrow's balance sheet at 31 August 2011:Barrow's depreciation policy is as follows:1. A full year's depreciation is charged in the year of acquisition, but none in
The following information relates to Astley for the year to 30 November 2011:Required:(a) Calculate the charge to the profit and loss account for the year to 30 November 2011 for each of the above
Duxbury started in business on 1 January 2012. The following is his trial balance as at 31 December 2012:Additional information:1. Stock at 31 December 2012 was valued at Â£10 000.2. At 31 December
Beech is a retailer. Most of his sales are made on credit terms. The following information relates to the first four years that he has been in business:The trade is one that experiences a high level
The following is Ash's trial balance as at 31 March 2011:Additional information:1 Stock at 31 March 2011: Â£15 000.2 At 31 March 2011 there was a specific bad debt of Â£6000. This was to be
Lime's business has had liquidity problems for some months. The following trial balance was extracted from his books of account as at 30 September 2012:Additional information:1. Stock at 30 September
The concept of limited liability is an out-of-date nineteenth-century concept.' Discuss.
Appleton used to operate her business as a sole trader entity. She has recently converted it into a limited liability company. Appleton owns 80 per cent of the ordinary (voting) shares, the remaining
How far do you think that the information presented in a limited liability company's profit and loss account and balance sheet is useful to the owners of a small business?
The following trial balance has been extracted from Carol Ltd as at 30 April 2012:Additional information:1. Stock at 30 April 2012 was valued at Â£140,000.2. Depreciation for the year of Â£28,000
Nelson Ltd was incorporated in 2003 with an authorized share capital of 500,000 Â£1 ordinary shares, and 200,000 5 per cent cumulative preference shares of Â£1 each. The following trial balance
The following trial balance has been extracted from the books of Keith Ltd as at 30 June 2011:Additional information:1 Stock at 30 June 2011 valued at cost amounted to Â£155,000.2 Depreciation is
A direct cost has been defined as 'a cost that that can be easily and economically identified with a particular department, section product or unit'. Critically examine this definition from a
Although a manufacturing account may contain a great deal of information, how far do you think that it helps managers who are in charge of production cost centres?
It has been asserted that the main objective of a profit-making entity is to make a profit, while that of not-for-profit entity is to provide a service. Discuss this assertion in the context of the
The following balances have been extracted from the books of Stuart for the year to 31 March 2012:£000Administration: Factory ............ 230Direct wages ............... 330Purchases of raw
The following balances have been extracted from the books of the David and Peter Manufacturing Company as at 30 April 2011:£000Direct wages ............... 70Factory equipment: at cost
Proprietors are more interested in cash than profit.' Discuss.
Unlike traditional financial accounting, cash flow accounting does not require the accountant to make a series of arbitrary assumptions, apportionments and estimates.How far, therefore, do you think
Does a cash flow statement serve any useful purpose?
You are presented with the following information:Starter commenced business on 1 April 2011.Required:(a) Compile Starter's cash flow statement for the year ended 31 March 2012.(b) What does it tell
The following is a summary of Gregory Limited's accounts for the year ended 30 April 2010.Profit and loss account for the year ended 30 April 2010Â£000Net profit before tax
The following summarized accounts have been prepared for Pill Limited:Additional information:1. There were no sales of fixed assets during the year ended 31 May 2011.2. The debentures were paid back
The following information relates to Brian Limited for the year ended 30 June 2012:Additional information:1 The company purchased some new vehicles during 2012 for Â£75,000.2 During 2012 the
Coca-Cola’s red and white logo is a familiar sight all over the world, from Argentina to Zimbabwe. Battling rival PepsiCo as well as regional soft-drink manufacturers, the Atlanta-based beverage
The United States restricts imports but, at the same time, supports the WTO and international banks whose objective is to enhance world trade. As a member of Congress, how would you justify this
What effects might the devaluation of a nation’s currency have on its business firms? On its consumers? On the debts it owes to other nations?
Should imports to the United States be curtailed by, say, 20 percent to eliminate our trade deficit? What might happen if this were done?
When should a firm consider expanding from strictly domestic trade to international trade? When should it consider becoming further involved in international trade? What factors might affect the
How can a firm obtain the expertise needed to produce and market its products in, for example, the EU?
Through joint ventures with GM and VW, SAIC has gained access to new technology and to well-established car brands that appeal to buyers in China. Its automotive partners have benefited from SAIC’s
What is the difference between an absolute and a comparative advantage in international trade? How are both types of advantages related to the concept of specialization?
What is a favorable balance of trade? In what way is it “favorable”?
List and briefly describe the principal restrictions that may be applied to a nation’s imports.
What reasons generally are given for imposing trade restrictions?
What are the general effects of import restrictions on trade?
Define and describe the major objectives of the World Trade Organization (WTO) and the international economic communities.
Which nations are the principal trading partners of the United States? What are the major U.S. imports and exports?
The methods of engaging in international business may be categorized as either direct or indirect. How would you classify each of the methods described in this chapter? Why?
List some key sources of export assistance. How can these sources be useful to small business firms?
In what ways do Eximbank, multilateral development banks, and the IMF enhance international trade?
Would bagels sell in Hong Kong? Laura Beth Trust and Alan Litchman planned to find out. Trust was in Hong Kong working in the garment manufacturing industry, and Litchman was in real estate, but they
Since its founding in 1984, Fossil has grown into a global company and a world class brand in the fashion accessory industry. The core of the company is its watch division, which sells more than 500
How much influence do stockholders wield over decisions made by and about the board of directors? Many stockholders of Walt Disney have been pushing for more say in key corporate governance issues
If you were to start a business, which ownership form would you choose? What factors might affect your choice?
Why might an investor choose to become a partner in a limited-liability partnership business instead of purchasing the stock of an open corporation?
Discuss the following statement: “Corporations are not really run by their owners.”
What kinds of services do government-owned corporations provide? How might such services be provided without government involvement?
Is growth a good thing for all firms? How does management know when a firm is ready to grow?
S.C. Johnson has not only retained the name of its founder throughout its long history, but it has also chosen to remain a family company, never going public to raise capital. Profits are very
What is a sole proprietorship? What are the major advantages and disadvantages of this form of business ownership?
How does a partnership differ from a sole proprietorship? Which disadvantages of sole proprietorship does the partnership tend to eliminate or reduce?

Showing 27300 - 27400 of 107832

First
267
268
269
270
271
272
273
274
275
276
277
278
279
280
281
Last

Services

Sitemap
Fun
Definitions
Become Tutor
Study Help Categories
Recent Questions
Expert Questions

Company Info

Security
Copyrights
Privacy Policy
Terms & Conditions
SolutionInn Fee
Scholarship

Get In Touch

About Us
Contact Us
Career
Jobs
FAQ
Campus Ambassador

Secure Payment

Download Our App

© 2024 SolutionInn. All Rights Reserved