Explain why net income calculated using cash accounting can be different from net income calculated using accrual
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (18 reviews)
Net income calculated using the cash basis only includes transactions in which cash has ...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Explain why net income isn't equal to cash from operations.
-
Explain why net income results in an increase in owners' equity.
-
Explain why net income is not the same as taxable income.
-
Prove that, the area of the traverse is equal to the algebraic sum of the products of the total latitude of each point and algebraic sum of the departures of the lines meeting at that point.
-
Both Alan Greenspan and Ben Bernanke have claimed that monetary policy was not responsible for the housing bubble. Instead, they blame a change in the relationship between short-term interest rates...
-
Variable and Fixed Costs Analyses Blade Corporation manufactures two types of inline skatesa basic model and a racing model. During the year 2009, Blade accumulated the following summary information...
-
The actual cost of buying or selling the product or service. LO.1
-
Use computer software to develop a regression model for the data in Problem 4-19. Explain what this output indicates about the usefulness of this model.
-
Mike's Radiator Services specializes in the repair and replacement of radiators for passenger vehicles. Variable and fixed costs related to installation activities for the most recent month ( January...
-
Question 7 The following balances were extracted from the books of Kopiko Sdn Bhd for the year ended 31 December 2018. Land Building Motor vehicles Plant and machinery Retained profit as at...
-
What are general purpose financial statements? What problems does any individual stakeholder have with using general purpose statements?
-
Explain each of the following terms in your own words and give an example of each: a. Asset b. Liability c. Owners' equity d. Dividend e. Revenue f. Expense
-
Why were hospitality fi rms some of the fi rst to internationalize?
-
Analysts and investors often use return on equity ( ROE ) to compare profitability of a company with other firms in the industry. ROE is considered a very important measure, and managers strive to...
-
Provide a brief summary of the case. Respond to the following: 1. Discuss the factors which contributed to the success of the change process in terms of unfreeze, move, and refreeze stages in force...
-
Prepare a proposal where a government agency meets with consumer groups and producers on how to address the shortages in rice, sugar, onions, and fuel, i.e. oil, gasoline and the like. Use the format...
-
Decided to embark on a personal improvement project centered around time management after reviewing the insightful workbook by Neuhauser et al. (2004). My decision was influenced by my recognition...
-
You are the Senior Manager of IAuditYou LLP, you were recently assigned to take over a very important client for the company, The engagement partner, Max Roff, has been the audit partner for the past...
-
Based on their solubility parameters, do you think the following are miscible in water, ethanol, or diethyl ether? a. Furfural b. Phenol c. Toluene d. Epichlorohydrin
-
Wimot Trucking Corporation uses the units-of-production depreciation method because units-of-production best measures wear and tear on the trucks. Consider these facts about one Mack truck in the...
-
When Kathryn Minshew was 12, her family moved from Dallas to Washington, D.C. She decided she wanted to be a diplomat or an ambassador or work for the CIA. She spent years studying political science...
-
What desirable behavioral consequences are likely as people focus on improving the BET metric?
-
Explain why using percentage of revenues from new products as a performance metric may fail to stimulate the creation of highly innovative products.
-
What are some nonfinancial measures that a company might use in order to motivate achieving the objective of anticipating future customer needs?
-
Suppose I have computed the cost of carbon per mile for my car at 0 . 0 1 2 per mile. Assume that the interest rate is 4 % and that I drive the car 2 8 , 0 0 0 miles per year. What is the present...
-
Imagine that in stable growth period, the firm earns ROIC of 10% and has after tax EBIT of 200 and reinvestment $ of 40. What is the steady state growth rate? 20% O 10% 2%
-
Tanner-UNF Corporation acquired as a long-term investment $160 million of 5.0% bonds, dated July 1, on July 1, 2021. Company management has the positive intent and ability to hold the bonds until...
Study smarter with the SolutionInn App