I. Explain five (5) reasons why public sector Accounting and Finance is useful to the national economy of Ghana

Q: Discuss the major characteristics of a theory.

A: Discussion of major characteristics of a theory

Q: Student ID Day 63638034 Monday 23957096 Thursday 28080825 Monday Exam Score 61 70 1. How many…

A: =COUNTIF is used to count the cells satisfying the given criteria in the given range.

Q: Define Intrinsic value.

A:

Q: Explain materiality , happens and why these are important? Explain with the help of example.

A: Materiality refers to the concept of determining whether a particular item, transaction, or…

Q: Describe WACC and its components.

A: WACC: The weighted average cost of capital (WACC) is a computation of   cost of capitalof a company…

Q: Realization Test Principle/Theory.

A: Accounting is based on some principles, and to maintain uniformity, everyone must follow accounting…

Q: Explain in detail Full disclosure principle with example.

A: The full disclosure concept or norm is an idea that allows a company to disclose all basic facts…

Q: Define and explain the significance of the term CMA.

A: Certified Management Accountant (CMA): CMA stands for certified management accountant. CMA…

Q: please show a clearer solution

A: Here, Investment Amount (PV) is P100 Value of Investment Amount after one year (FV) is P112.55…

Q: Explain FLSA and its purpose.

A: FLSA stands for fair Labor Standards Act. It is an act that aims at protecting the interest of…

Q: Give five examples of manufacturing overhead.

A: Manufacturing overhead: Manufacturing overhead is a Indirect cost. The cost or expense related to…

Q: Summarize what are the MACRS guidelines?

A: The MACRS (Modified Accelerated Cost Recovery System) is the current tax depreciation system in the…

Q: Explain subsequent events and why these are important? Explain with the help of example.

A: Subsequent events refer to events or transactions that occur after the balance sheet date but before…

Q: Explain an example of internal events.

A: An Accounting event is a transaction that is recorded in the books of accounts of the company. There…

Q: Explain the concept of adequate disclosure.

A: Definition: Adequate Disclosures: In accounting, there is a need for adequate disclosures as these…

Q: hat are the Sarbanes-Oxley Act and GAAP?

A: In order to reduce the fraud in corporations while recording financial transitions or preparing…

Q: What are the functions of the conceptual framework under IFRS?

A: International Financial Reporting Standards:   IFRS (International Financial Reporting Standards) is…

Q: What is full form of CIP? Explain about it.

A: Carriage and Insurance Paid to is the full form of CIP

Q: Explain prudence concept with example.

A: Prudence principle- According to this concept, businesses should instantly recognize all future…