Accountants refer to an economic event as a

Q: What are some financial goals

A: Financial goals are the targets to aim at when it comes to managing money. Involves saving,…

Q: How does the financial system function?

A: Financial system function  has from starting gathering of funds This funds are used for capital…

Q: What is financial service corporation?

A: Financial services sector refer to the services provided by the finance market. Their role is mainly…

Q: Distinguish between economic events and support events and provide examples of each.

A: Definition: Economic event: Economic event means events that include transferring the ownership…

Q: How do you find gross profit in financial accounting?

A: Gross profit is the income earned by the company after deducting the cost of goods sold from the…

Q: Distinguish between economic and financial capital.

A: Capital resource:  The equipment and goods that are being used for the purpose of generating other…

Q: What are economic events?

A:

Q: An objective of financial reporting is

A: Financial reporting uses financial statements to disclose financial data that indicates the…

Q: Explain the major component of financial system?

A: The financial system is critical to the functioning of the economy because it facilitates the flow…

Q: Financial reporting information may be described in terms of its qualitative features.

A: This question explains about financial reporting information

Q: Define the role of a finance manager and how does it differ from accountant

A: A finance manager is responsible for managing the financial activities of an organization, such as…

Q: Who uses the financial reporting model?

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: What are the uses and limitations of economic data?

A: In this question, we need to explain the Economic data.   Economic data: The economic data indicates…

Q: What do you think is the importance of Economic Development in relation to the field of study…

A: Accounting plays an essential role in the economic development. high quality…

Q: Explain how managerial finance function relates to Economics.

A: Managerial finance is referred as the part of finance which considers the managerial application of…

Q: Explain the relationship of Social and Economic Accounting to Financial What are the features of the…

A: Answer: Social and economic accounting and financial are all related with each other. The basic…

Q: what the difference between accounting income and economic income?

A: Accounting income can be defined as an estimate of the performance in the operations of the company.…

Q: What is financial reporting environment?

A: A short introduction to Financial Reporting- Basically it is a standard accounting practice that…

Q: Who Uses Financial Reporting and Analysis

A: Financial reporting is a day-to-day practice which helps the organization to keep the business…

Q: In finance, how essential is accounting?

A: Accounting is recording of the transactions occurring in the company. Accounting is very essential…

Q: List the types of transaction costs in the financial markets

A: Transaction costs are expenses incurred when buying and selling the product or services.

Q: Explain in detail the difference between accounting value and market value.

A: The objective of this question is to understand the difference between accounting value and market…

Q: Define financial system?

A: Financial System is a set of institutions which includes banks, insurance companies, and stock…

Q: How calclus techniques applied in accounting and Finance

A: One of the most significant areas of mathematics that deals with continuous change is calculus.…

Q: What is the objective of a financial analysis?

A: Financial analysis is the process of evaluating businesses, projects to determine whether the entity…

Q: What is the relationship among economics, finance, and accounting?

A: Accounting, finance and social science are all connected fields, and every one typically specialize…

Q: 2. What do you mean by Event? Differentiate between Economic Events and Non-Economic Events with…

A: Business- The selling and buying of goods and incurring or providing services to the customers to…

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is