For this assignment, discuss how the finance function is interrelated and connected to the other business functions.

Q: Explain in detail and also give example. Business Entity concept

A: Accounting concepts: Accounting concepts laid the foundation for recording all the financial…

Q: Describe the reasons why financial accounting is useful?

A: Financial accounting is a specific branch of accounting involving a process of recording,…

Q: Given below is the Income Statement of Reaper Corporation for 31 Dec 2019. Net Sales 2000 COGS -1200…

A: Earning before interest and taxes (EBIT) = 700 Tax rate = 0.20 Depreciation = 100     Operating cash…

Q: he financial activities of financial management are categorized into major functions in terms of…

A: Financial management is procurement , allocation and control of financial resources of a project. It…

Q: When it comes to financial accounting, what is the most important function?

A: The most important function of financial accounting is to provide financial statements to the users…

Q: What are the two essential characteristics of usefulfinancial information? What other…

A: Financial information: Financial information refers to the data of the transactions that are…

Q: Discuss the financial implications of the different forms of business organization.

A: There are several forms of business organization, each with its own advantages, disadvantages, and…

Q: what is intermidiate accounting? explain further in your own words

A: Intermediate accounting is a level of accounting education and practice that falls between basic or…

Q: What are the functions of the financial balance sheet in assisting in management's decision-making…

A: The question is based on the usage of balance sheet in financial decision making  by managers.

Q: Explain the economic environment of financial accounting.

A: The economic environment of financial accounting.

Q: by The financial performance of an entity is calculated Select one: A. a decrease in expenditure. B.…

A: The financial performance of the company is the overall standing of the company in the categories of…

Q: Explain the composition and elements of a financial environment and how they interrelate with one…

A: The whole financial system is about getting the money from savers and proving it to who need it…

Q: Question: Q1 Let Us Assume That Mr. Amir Starts A Business Called Amir Enterprises On 1st…

A: Accounting equation is very important and it says that total assets in the business should be equal…

Q: What are the two primary functions of financial accounting?

A: Financial accounting is that field of accounting in which all financial transactions are recorded in…

Q: Identify transactions that are classified as financing activities.

A: Definition:   Statement of cash flows: This statement reports all the cash transactions which are…

Q: From the given information find the Cash Flow From the Asset. Operating Cash Flow 775 Net Change in…

A: Cash flow from asset = cash flow from operation + changes in working capital + changes in fixed…

Q: how is financial management related to economics on the one hand and accounting on the other hand.

A: Financial Management: It refers to the planning, directing, organizing & controlling the…

Q: Explain the composition and elements of a financial environment and how they interrelate with one…

A: A financial environment consists of banks, insurance companies, stock exchange, pension funds etc.…

Q: What distinguishes accounting and business administration from each other?

A: Despite the fact that business administration and accounting are closely related, they have distinct…

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: Describe the function and primary focus of financial accounting.

A:

Q: Discuss the roles of accounting theory.

A: Accounting is defined as work carried out by the bookkeeper or an accountant in which the business…

Q: To what extent are you familiar with financial statements and their interrelationships? Explain

A: This question explains about  the financial statements and interrelationships

Q: Which is one of the most important roles of the accounting function within an organization?

A: Accounting Function: Accounting function are the functions related to maintenance of records of the…

Q: What is the equation that shows the relationship between elements of financial data

A: The equation that shows the relationship between the elements of financial data is shown hereunder :…

Q: What is the primary means of conveying financial information to external users?

A: Financial reporting: Financial reporting is the procedure to communicate the financial information…

Q: Discuss the terms relevance and faithful representation as they relate to financial accounting…

A: Financial accounting: It can be defined as the branch of accounting that is associated with the…

Q: Main objective of financial accounting

A: Financial Accounting In the financial Accounting the basic process is to record the required…

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: of using financial manage

A: Given information :  In simple words, Financial management entails the planning,, arranging,…

Q: Emphasize the role of the financial manager and his or her responsibilities.

A: The financial manager and his or her responsibilities:

Q: What are the three basic business activities that financial accounting seeks to measure and…

A:

Q: Differentiate between accounting and finance

A: Solution:- Accounting :- Accounting may be defined as "Accounting" is the process of measuring,…

Q: What are financial accounting's two main functions?

A: The answer:

Q: evaluate the sources of financial data which can be used to inform business strategy.

A: Financial Data: Quantitative information used by firms to make financial decisions is called…

Q: Explain into detail some of the difficulties associated with the financial system.

A: Financial system is the system developed or created by various financial institutions such as banks,…

Q: Describe the internal role of accounting for organizations.

A: Accounting refers to the method of communicating financial information to users such as investors,…

Flow of Funds

The flow of funds is the financial accounts of the nation, which monitor and control the cash flow among various sectors or industries, or markets. Central banks use these flow of funds statements to acquire macroeconomic data, to publish cash inflow and cash outflow statements of the nation. This flow of funds system is utilized to identify economic activity and changes in the economy. It is used by Federal Reserve to determine the Gross Domestic Product (GDP) of the nation and to implement monetary policy and fiscal policies.