Accounting Questions

1. What are the different methods of depreciation and how do they impact financial statements?
2. Explain the concept of goodwill in accounting and its implications for businesses.
3. How does the matching principle guide the recognition of expenses in accounting?
4. What are the key differences between accrual accounting and cash accounting?
5. How does the use of LIFO and FIFO inventory valuation methods affect a company's financial statements?