What is the qualitative characteristic of comparability? Why is it important in preparing financial statements?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (17 reviews)
Comparability is the quality of accounting information that allows comparisons ...View the full answer
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1133161646
7th Edition
Authors: Gary A. Porter, Curtis L. Norton
Question Posted:
Students also viewed these Accounting questions
-
What is a stepping-stone year? Why is it important in determining a ventures value?
-
Why is it important in a report to explain how you dealt with an outlier?
-
What is a placebo, and why is it important in an experiment to test the effectiveness of a drug?
-
Pick a Nigerian brand that has been very successful competing against the bigger global brands in its product category. What are the elements of its strategy that have enabled it to achieve this...
-
Sung Corporation, a manufacturer of steel products, began operations on October 1, 2016. Sung's accounting department has begun to prepare the capital asset and depreciation schedule that follows....
-
Express the general solution of dy/dx = 1 + 2xy in terms of the error function erf(x) = 2 e-1 dt.
-
3. Divide the class into teams of four or five. Select (or ask for a volunteer) one member of each team to play the role of a newcomer to the school (the newcomer might pose as a transfer student, a...
-
Tifton & Co. had the following cash transactions during the current year: Proceeds from issuance of common stock ........ $400,000 Payment of dividends .................. 100,000 Payment for purchase...
-
The outstanding bonds of Dane Corp. have ten years to maturity, 6.50% coupon rate, annual coupon, and a price of $93 per $100 face value. What is the estimate of the pretax cost of debt if the tax...
-
Write pseudocode agent programs for the goal-based and utility-based agents. The following exercises all concern the implementation of environments and agents for the vacuum-cleaner world.
-
What does relevance mean with regard to the use of accounting information?
-
What is the difference between comparability and consistency as they relate to the use of accounting information?
-
The audit of KBC Solutions by Carlson and Smith, CPAs, was scheduled to end on February 28, 2019. However, Rick Carlson was uncertain whether it could happen. As the review partner, he had just...
-
Experiment 3 19. Now click on Circuit 5 and set the values for the Resistors and Voltage as follows: a. R1 =10.0 W, R2 = 20.0 W, R3 = 50.0 W, R4=50.0 W, V=10.0 V. b. Using the formula for adding...
-
This problem is based on the JA Tires data that was first introduced in problem 6-35. If you have not already accessed the data, it can be downloaded from the textbook website or from the attached...
-
Based in Miramichi, New Brunswick, Abenaki Associates Ltd. has been providing information and computer software technology to First Nation customers for more than thirty years. Abenaki Associates is...
-
a = [1,2,3,4] b= a -1 print(b) What is the output? The code does not make errors. Q3. (10 pts) What is the output? The code does not make errors. n=3 for k in range (n) : for m in range (k):...
-
Rodriguez Corporation issues 12,000 shares of its common stock for $62,000 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The...
-
Explain the difference between intracompany and intercompany analysis. TYK-1
-
Refer to the table to answer the following questions. Year Nominal GDP (in billions) Total Federal Spending (in billions) Real GDP (in billions) Real Federal Spending (in billions) 2000 9,817 578...
-
Outline the structure of equity markets in the United States. Distinguish between auction markets and negotiated markets.
-
Assume that a company is preparing a bank reconciliation for the month of June. It reconciles the bank balance and the book balance to the correct balance. For each of the following items, indicate...
-
The university drama club is planning a raffle. The president overheard you talking about internal control to another accounting student, so she asked you to set up some guidelines to make sure that...
-
The following tasks are performed by three employees, each of whom is capable of performing all of the tasks. Do not be concerned with the time required to perform the tasks, but with the need to...
-
nformation pertaining to Noskey Corporation s sales revenue follows: November 2 0 2 1 ( Actual ) December 2 0 2 1 ( Budgeted ) January 2 0 2 2 ( Budgeted ) Cash sales $ 1 0 5 , 0 0 0 $ 1 1 5 , 0 0 0...
-
The management team of Netflix maintains a stable dividend using the Lintner model: Dt+1 = Dt + EPS Target Payout Where Dt (Dt+1) = dividend in the current period t (the next period t + 1) EPSt =...
-
#1 #2 hapter 50 10 D Werences lav Help Required information [The following information applies to the questions displayed below) Archer Company is a wholesaler of custom-built air-conditioning units...
Study smarter with the SolutionInn App