Briefly explain how research and development (R&D) expenditure should be accounted for according to the requirements of  IAS 38.  Briefly explain the potential impacts of the accounting rules for R&D expenditure under  IAS 38 on the firm.  Briefly explain why employee skill is not recognised as an asset.

Q: Managerial accounting a. is primarily for external users. b. has no mandatory rules. c, provides…

A: Managerial accounting is focused on providing information to managers.   This helps the managers in…

Q: What responsibility would internal auditing go under? managerial accounting, tax accounting or…

A: There are different branch of accounting that help in the recording of transactions and analysis of…

Q: Which among the three different compensation models, commission, hybrid, and salary, which model can…

A: Commission-based model: In a commission-based model, financial advisors are primarily incentivized…

Q: What are the ethical and professional expectations for CPA's by the accounting prefession?

A: Auditors work on behalf of shareholders and various other stakeholders; whereas, they are required…

Q: The duty of performance requires agents to live up to which of the following standards?     Good…

A: Agents are obligated under the duty of performance to carry out their tasks with reasonable care and…

Q: 65. Accounting, as a support function, should include: O A. Financial accounting. OB. Cost and…

A: Accounting is the process of identifying, collecting, organizing, summarizing, grouping,…

Q: A company's disclosures regarding contracts should include reconciliation of the opening and…

A: Contract is a verbal or written agreement, particularly one concerning work, deals, or occupancy…

Q: The cost management information system provides information *       A. that the accountant needs to…

A: Answer: The cost management information system provides information *   B. that the manager…

Q: How do the content of reports and the verification of reports differ between managerial and…

A: The content of reports and the verification process in managerial and financial accounting differ in…

Q: Which of the following policy decisions directly affectsemployees’ attitudes and work behaviors?…

A: employees are an inseparable part of any organization. All the planning done by the top management…

Q: Which of the following are characteristics of management accounting information?  a) Unregulated…

A: Answer -    The following are characteristics of management accounting information-  verifiability,…

Q: Discuss the implications of material errors on financial statements and the potential consequences…

A: An organization's reputation refers to the overall perception, opinion, and evaluation that…

Q: How would cost accounting information help managers in a not-for-profit organization? Is it as…

A: Answer:- Not- for profit organization meaning:- An organization which is established for not for…

Q: Which of the following is not a characteristic of useful managerial accounting reports?…

A: Managerial accounting reports are meant for the internal management of a company and not for…

Q: is not an objective of managerial accounting? a. To prepare external reports for investors,…

A: Management accounting is important because it help us to  analyse in order to make better decisions…

Q: The techniques and practices of management accounting are usually constrained by: Select one: O A.…

A: Managerial accounting, also called management accounting, is a method of accounting that creates…

Q: Explain the relevance of contract law to accountants. Include any ethical factors that might need to…

A: Answer: The basic principles of contract law embrace mutual assent, thought, capacity and legality…

Q: Any situation where a potential conflict can arise between the firm's owners and its managers is…

A: Variable in the question:Any situation where a potential conflict can arise between the firm's…

Q: Clear lines of authority and responsibility are essential to establishing a responsibility…

A: Responsibility Accounting System:  Its a system which Divides the Entire Organization in to multiple…

Q: Evaluating employee performance and making strategic decisions are two examples of how managerial…

A: Examples of how managerial accounting information is used, Evaluating Employees Performance Making…

Q: The major reporting standards and principles for presenting managerial accounting information are…

A: The major reporting standards and principles for presenting managerial accounting information are…

Q: Why are externally presented reports required to be prepared according to generally accepted…

A: GAAP principles are a set of world-renowned accounting principles that defines the rules and…

Management Information Systems

While undertaking any business decisions, data is the most important aspect. An information system (IS) is a set of data, computing devices and management methods that support routine company operations. A management information system (MIS) is a specific subset of IS.