Explain the impact of using direct material on accounting equation.

Q: Describe the basic accounting information system.

A: Definition:   Accounting information system: An accounting information system is a system that is…

Q: Definiton of accounting

A: Introduction: Accounting: Accounting is an art of recording , classifying , summarizing, and…

Q: describe accounting as an information system

A: Accounting as an Information System An Accounting as an information system is the system of storing,…

Q: Describe the Accounting Processing Cycle.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: to be useful, accounting information should be presented using

A: The company will record each and every day to day transactions happened during the operations of the…

Q: Explain the impact of using indirect material on accounting equation.

A: Indirect materials are materials used in the production process, but which cannot be linked to a…

Q: Analyze the effects of transactions on the accounting equation

A: Accounting equation:   Accounting equation is an accounting tool expressed in the form of equation,…

Q: Calculate the missing figure using the basic accounting equation

A: Cash float : It means amount of cash kept in drawer at the beginning of each working day to ease…

Q: Explain the accounting processing cycle.

A:

Q: Describe the steps in accounting processing cycle.

A: The accounting cycle is the holistic process of recording and processing all financial transactions…

Q: What's is the accounting equations

A: Accounting equation is considered as foundation of double entry accounting system. Accounting…

Q: What purpose is served by the output devices of an accounting system?

A: Output devices: Output devices help in taking the information out of the system and provide it to…

Q: Define accounting information system.

A: Accounting Information System (AIS) is a computer-based system used by decision makers to collect,…

Q: Explain an example of accounting process cycle.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: xplain the accounting process in det

A: Answer: Accounting process is the process which involves maintaining books of accounts and record…

Q: explain the purpose and importance of accounting

A: 1. The purpose of Accounting :    The purpose of accounting is to gather and report on financial…

Q: Define accounting equation

A: Financial Accounting:   It refers to the process of recording the financial transactions of the…

Q: What are the basic accounting formulas for beginning and intermediate accounting?

A: The basic accounting formula / equation for beginining Accounting and intermediate accounting…

Q: Write down the general expression of accounting equation.

A: Accounting equation: Accounting equation is an accounting tool expressed in the form of the…

Q: explain the accounting equation in its basic and expanded forms

A: The accounting equation is used as the basis of the accounting method of dual entry. The balance…

Q: Explain in your own words the process of Accounting cycle.

A: The accounting cycle refers to a process that is followed in preparing and recording all the…

Q: What is the most important basic accounting operation? Explain the procedure.

A: Introduction : Accounting is the discipline of recording a business's financial transactions. The…

Q: List and explain various functions of accounting.

A: Accounting is the process of recording financial transactions pertaining to a business. The…

Q: impact of measurement bases in the usefulness of accounting report.

A: Measurement bases are values used to measure particular items in the financial statements.

Q: Can you explain the basic accounting equation?

A: The basic accounting equation represents the relationship between assets,liabilities and…

Q: Each external transaction will have a dual effect on the accounting equation. Explain what this…

A:

Q: Explain the methods of accounting.

A: Accounting methods refers to the ways which are adopted by the company in order to record its income…

Q: Compare between computerized accounting and manual accounting

A: The financial transactions are recorded and presented in the financial statments that makes it…

Q: Briefly describe the two fundamental qualities of useful accounting information.

A: Accounting information is data about a business entity’s transactions. From buying inventory and…

Q: What do the accounting equation's elements entail? Give an explanation.

A: Accounting equation:  An accounting equation is a tool that creates a link between a company's…

Q: Required: Enter the impact of each transaction on individual items of the accounting equation. minus…

A: Important Accounting Equation Assets = Liabilities + Equity This Equation helps in the Preparation…

Q: Describe the major constraint inherent in the presentation of accounting information.

A: Accounting information:   Accounting information refers to that information which is concluded from…

Q: Examples of Accounting Information System

A: Accounting Information Systems help in the completion of duties related to budget analysis. An…

Q: For each of the following, indicate if the statement reflects an input component, output component,…

A: Accounting Information System:   It is a structural framework used by business to collect, store,…

Q: anagerial Accounting uditing ost Accounting

A: a) An activity that provides financial and non-financial information to managers and other internal…

Q: Write the basic accounting equation.

A: The accounting equation represents that the assets are equal to the sum of liabilities and…

Q: how do you find the answer to componets of accounting equations

A: The accounting equation is as followsTotal Assets= Liabilities+ Owner's Equity.So, whenever any…

Q: Explain the accounting constraint of materiality.

A:

Q: Discuss what is meant by the statement, “The accounting system is a conceptual flow of…

A: Accounting Information system is a set of components used for gathering, making, storing, preparing,…