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 for business

Questions and Answers of Accounting for Business

How would you measure financial risk in the short and long term?
Explain briefly what the difference is between financial risk and business or commercial risk.
What other parts of the annual report would you use in your analysis.
What information would you derive from reading the Chairman's Statement?
What sources of information outside the business are available to you and how would you use this information in your analysis?
What factors do we need to take into account in order to put our analysis in context?
How do the needs of long-term lenders differ from those of equity investors?
Identify the main user groups and their common needs in terms of financial analysis.
Explain how you propose to deal with the following:the balance of £7100, i.e. the profit after drawings;the drawings from the business by Susan and Bob in year 2;the money introduced by Bob in year
What, if any, additional accounts need to be opened in the second year to cope with the fact that the business is now a partnership and for what reason are they needed?
The current partnership agreement between Susan and Bob has the advantage of being simple. If you were advising Susan would you suggest any alternatives to the present agreement and, if so, why?
Describe how the choice of organizational form determines the format of the final accounts.
What are the differences between a sole proprietorship and a limited liability company?
Why is it advantageous to set a business up as a limited company?
Explain the reasons why partnership agreements often contain clauses relating to interest, bonuses, salaries and division of profits.
Explain the difference between a sole proprietorship and a partnership.
Explain the meaning of the term 'final adjustments'.
Explain in your own words the meaning of the terms trial balance and extended trial balance.
Using a worksheet draw up the balance sheet and profit and loss account for the business whose transactions are set out below:Month 1 Bert put in £9000 of his own money and transferred his own car
In each of the following situations discuss the most appropriate method of depreciation giving reasons for your choice.Land and buildings: The land was purchased for £300000 and £400000 was spent
In the chapter we described the profit or loss arising on the disposal of a fixed asset as a paper profit or loss. Explain how this profit differs from that arising on the sale of stock.
An expense has been defined as a past or expired benefit. In what way does depreciation differ from other expenses?
What are the assumptions underlying the two main methods of depreciation?
Describe what is meant by the net book value and the written down value of an asset.
On what basis do we decide what should and should not be included in the cost of a fixed asset?
What factors need to be taken into account in determining the useful life of an asset?
Why is it unlikely that depreciation will provide for replacement of the fixed asset?
On 1 May 1989 Barbara paid £3000 into a business bank account as capital for her new business which she called Barbies Bikes. The transactions during July were as follows.May 3 68 14 16 18 21 23 24
In each of the following situations describe the way that the transaction would be dealt with in the accounts of the business and identify, where appropriate, the effect on the balance sheet and
How do debtors affect the profit and loss account?
Why is it necessary to identify debtors and creditors?
When do prepayments arise and how do they differ from accruals?
Why are debtors and prepayments classified as current assets?
Explain the difference between creditors and accruals.
In your own words describe what a creditor is and when creditors arise.
Discuss the performance of Spain's business for the period.
Draw up a balance sheet at the end of the month and a profit and loss account for the month for Spain.
Spain has recently gone into business manufacturing office chairs.Details of the transactions for the first month arc given below.Day I Opened a bank account and paid in £10000 of own
Comment on the situation as revealed by the balance sheet and profit and loss account of Stern.
Draw up a balance sheet and profit and loss account for Stern.
Draw up a worksheet and enter the transactions outlined in the example above.
Using the information in the example below, discuss the accounting treatment of each transaction and the possible value of the stock at the end of the month.Stern has recently gone into business
Discuss the ways in which your answer to problem would be affected by the use of a marginal cost basis of stock valuation.
In the situation described in the following example discuss which costs, if any, should be included in the stock valuation, and at what point in time they should be included.Hank is in business
Think of examples of types of business where one method of stock valuation would be more appropriate than the others.
Name three methods of stock valuation and describe the differences between them and the effects of those differences.
Of the costs above which would be appropriate to include in arriving at cost under a marginal costing system.
Which of the following costs would be appropriate to include in a marginal costing system?Director's salary Foreman's wages Machine operators' wages Cost of raw materials
Explain in your own words the difference between absorption costing and marginal costing.
Why is it necessary to value stock at the lower of cost and net realizable value?
What are the effects of omitting goods costing £500 from the year end stock figure?
What would be the effect on the profit if goods costing £6000 were excluded from the opening stock figure.
In arriving at a figure for stock in a business that manufactures and assembles furniture, what questions would need to be considered?
What main categories of stock are likely to be held by a manufacturing business?
Leech has recently gone into business selling office chairs. Details of her transactions for the first month are given below.Day 1 Opened a bank account and paid in £5000 of her own
In each of the following situations discuss the potential effect on the business and suggest possible ways in which those effects could be reflected on the worksheet.(a) The owner starts up a new
If some doubt still remains how should a choice be made? Explain any principles involved.
In situations where doubt exists as to whether a transaction has resulted in an asset or expense what questions should be posed?
In each of the following cases describe the two entries required on the worksheet.(a) The owner pays £500 into the business bank account.(b) A desk is bought for £100 for the business, paid for
Describe in your own words what is meant by the concept of duality.
There are two partners in AB & Co., an electrical retailer. They have each withdrawn £5000 in cash from the business during the year. B has also taken from the business for personal use a washing
Based on your decisions, draw up a profit and loss account for 1990 using the information above.
In each of the following situations, discuss whether the item would be included in the profit and loss account for the year to 31 December 1990 and at what amount. The business is that of a builder
In what circumstances would it be inappropriate to recognize a cost as either an expense or an asset?
Describe the difference between an expense and an asset.
What is the purpose of a profit and loss account and who would use it?
'Expenses are always the same as costs for a period.' Discuss the truth of this statement using examples to illustrate your argument.
How does an expense differ from a cost?
In your own words define an expense.
At what point should revenue be recognized?
In your own words define revenue.
Fred owns a garage and has tried to get everything together ready for the business accounts to be drawn up. He has drawn up the list of items below. You are required to identify with reasons the
Using the information in Problem 2 above calculate the owner's equity and draw up the balance sheet of Transom Trading as at 31 December 1991.
In each of the following situations identify whether the item should be included in the balance sheet of Transom Trading at 31 December 1991, and if so at what amount and under which heading. Transom
Prepare a balance sheet from the following information and comment on the position of the business as shown by that balance sheet.Stock of goods held for resale Freehold land and building Mortgage on
What is the purpose of a balance sheet and what information does it contain?
Explain in your own words what a liability is and the differences between liabilities and owners' equity.
Explain in your own words the difference between fixed assets and current assets and why it is important to classify assets into subgroups.
What are the essential elements of a useful definition of a fixed asset?
What are the deficiencies, if any, in the following definition of an asset?Assets are the things a business owns.
What are the essential elements of a useful definition of an asset?
Having calculated the profit for the first six months discuss whether the profit figure is a useful benchmark for measuring the performance of the business, and also whether it is useful as a guide
Two brothers decided to go into business buying and selling beds.Details of their transactions are set out in the case study below.They initially bought 400 beds at £100 each and a delivery van for
In the example of Alex in the text, no allowance was made for the fact that an item had been in use for some time. Whilst it is intuitively obvious that the utility of most things declines over time,
What effects, if any, do rapid changes in technology have on the appropriateness of each of the alternative ways of assigning a cost or a value to an item.I. Under certain circumstances only one of
In certain situations we said that written-down cost could be used as an alternative. Explain in your own words the difference between cost and written-down cost and suggest when the latter would be
There are a number of different ways in which we can measure wealth.List the alternatives discussed in the chapter together with any drawbacks or problems that were identified with their use.
Profit is normally seen as a flow over time whereas wealth can be described as a stock at a point in time. Explain in your own words the difference between a stock and a flow.
With reference to the example of Sivraj prepare a profit and loss account and balance sheet from the data using worksheets.
What is a master budget? Describe its role in relation to other budgets.
What determines the budget time period?
Explain, giving examples, the main advantages of identifying cash surpluses and deficits in a cash budget.
Discuss the interrelationships between the sales budget and the production budget in a manufacturing organization.
Describe the main differences in the budgeting process for a small retail firm and a iarge manufacturing firm.
Explain why budgets may mean different things to different people within an organization, giving reasons.
What are the main reasons for an organization to introduce budgets?
Coyle Plc at present manufactures all the components that go to make up its finished products. A salesman from a components supplier has just offered to provide the firm's requirements for two
Qualitative factors are often influential in the decision-making process.Describe the nature of qualitative factors and give three examples that may influence a decision to make a component rather
The opportunity cost of a resource, in some circumstances, may be higher than the resource's purchase price. Explain why this may be the case.
Discuss the importance and usefulness of the concept of internal opportunity cost in the making of decisions.

Showing 200 - 300 of 3182

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
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