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External Users
How can your role as an accountant ensure that the information presented do not include errors and how would you support your claims?
The best way to make certain that all information is correct is to have different facts and calculations double checked. At the same time, the balance sheet will show these transactions in the total figures that are presented. This means that if there are any errors, they can be identified through conducting simple mathematics (i.e. addition, subtraction, multiplication and division). The best way to support any kind of claims is to include the actual documentation with these figures. Then, any possible research reports would be provided to illustrate future projections from these activities. ("Accountant's Guide to Financial Management," 2006)
How can information on past transactions be used to predict future cash flows? Explain.
Past transactions can be utilized to determine the impact of changes in the economy and customer demand on the bottom line results of the firm. These shifts can give actuaries insights about future trends and their effect on the company's free cash flow. This helps managers in providing guidance about future events. ("Accountant's...
The drawbacks of this system include: not as much detailed information is communicated and the activities of the firm are harder to understand. (Adams, 2012)
What two types of comparison may external uses make in their financial decision making? Why is knowledge of these comparisons important to accountants?
Two external uses that would improve their financial decision making includes: accurately valuing the price of the common stock / bonds and understanding how the firm is managing its liquid assets. The ability to accurately compare these areas will determine the way the firm will deal with adverse situations (over the short to medium term). ("Accountant's Guide to Financial Management," 2006)
What specific principles must a company apply to the reporting of inventories in it interim financial reports?
When reporting any kind of inventories there must be consideration for: the amount of time a particular…
References
Accountant's Guide to Financial Management. (2006). Delta Publications. Retrieved from: http://www.apexcpe.com/publications/771003.pdf
Simple vs. Compound Interest. (2008). Basic Mathematics. Retrieved from: http://www.basic-mathematics.com/simple-vs.-compound-interest.html
Understanding the Time Value of Money. (2012). Investopedia. Retrieved from: http://www.investopedia.com/articles/03/082703.asp#axzz22WVMj6WU
Adams, K. (2012). Major Advantages and Disadvantages. E How. Retrieved from: http://www.ehow.com/info_8569517_major-singlestep-forms-income-statements.html
" (2004) Ricol states in relation to the audit area that "...actions were recommended in two primary areas: 1) Reducing threats to auditor independence; and 2) Strengthening audit quality control processes. (Ricol, 2004) In regards to corporate management and governance, it is related in Ricol's speech that the task force called for corporate boards to "demonstrate greater accountability for the information, financial management and internal controls necessary to produce trustworthy information. Sound corporate
role of management accounting for Bravo plc and discusses its use as an effective management tool. Management accounting, also called managerial accounting, is concerned with providing information to managers inside Bravo, those who direct and control its operation. For management accounting to have strategic value, it must accomplish the three strategic objectives of quality, cost and time. Management accounting achieves its objectives by providing information that links the daily actions
External and Internal Recruitment External recruitment and its strategy at Coca Cola Company Recruitment refers to an act of enabling employees take after the various roles and responsibilities within an organization. The act of selecting and employing procedures that ends in having employees fill up various responsibilities within an organization is referred to as recruitment. External recruitment refers to a recruitment process that the human resource of an organization moves outside the
This also implies inadequacies in fiscal sustainability, which influences investments in private sectors. The second channel happens through the level, composition and quality involved within the public investment, which shows the level at which the public investment replaces the private investments (Schmidt- Hebbel, Serven, & Solimano, 1996). The final channel regards the level of taxation on the corporate earnings and the rules applicable in depreciations. There have been arguments that fiscal policy
It is argued that while land tenure data can be instrumental in addressing land-related conflicts, much of the practical value is lost because of inconsistency of information and because information is not readily accessible, or cannot be combined to allow for greater depth of analysis. In practice, this means that policy-makers cannot make immediate use of the information that is available because additional time and expense are required either
The various e-businesses therefore depend upon various ISP's as well as the internet infrastructure in order to achieve an improved level of convenience as well as unparalleled availability. The merits associated with e-commerce has therefore resulted to rapid adoption of the concept with a heavy reliance on various encryption techniques such as SLL as well as username and password based authentication techniques that rely on authentication files contained within