‘Accounting is irrelevant in decision making because the information it provides relates only to the past.’ Evaluate this remark.
(a) ‘Accounting is irrelevant in decision making because the information it provides
relates only to the past.’ Evaluate this remark.
(b) Describe three ways you would identify if a financial statement is a special
purpose financial statement or a general purpose financial statement.
There are various differet charactristics of special purpose financial statement and general purpose financial statement. We can easily identify them by those characteristics. Some of major character which helps us to identify either it is general purpose financial structure or it is special purpose financial statement are coined below,
(c) Users of accounting information can be identified as internal and external users.
List two of users in each category and the type of information they require.(d) You have decided that now is the time to buy a new laptop for your MPA studies.
List the factors that are important in choosing a new laptop. Given that you have a
maximum of $1600 to spend, identify which model you will buy and discuss the
reasons for your choice. Present your answer so as to illustrate the steps required in
the decision-making process.
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