Please kindly answer all 6, thanks Q4The goal of preparing an annual report is to communicate information from a company to itstargeted users.Q5(i) Identify and discuss the basic factors of communication that must be considered in thepresentation of this information.(ii) Discuss the communication problems a company faces in preparing the annual reportthat result from the diversity of its users.Broadly, all of the groups that were identified in this course as being users of accountinginformation about a business except for the managers of the business tend to have access to thesame items of accounting information. This is typically the income statement, balance sheet(sometimes called the statement of financial position) and cash flow statement. Managers, onthe other hand, have access to all the information that they want.Why are managers treated so much better in the provision of accounting information than the| other groups?Q6Explain at least 4 major internal controls that a business should consider and implement in the useof business assets. Q1"Accounting information is useful to anyone who makes decisions that have economic results".Explain 2 uses of Accounting Information.Q2"A basic knowledge of accounting is essential for everyone involved in managing a business".Do you agree? ExplainQ3A business information report has been obtained on Sugar City Prospects Ltd, a new sales lead.Your Sales Manager is naturally keen that credit terms can be agreed as soon as possible, and isvery interested to learn what the data in the report means and how it helps with the accountopening decision.Explain the usefulness of each of the following ratios in reviewing the performance of a businessand your Sales Manager at Sugar City Prospects Ltd on his plans:i)ii)iii)iv)v)Net profit percentageEarnings per shareOperating expense ratioShareholders' equity ratioAge of debtors in days

Accounting information is useful to a lot of users such as management,stakeholders,customers, legal…

Q1 "Accounting information is useful to anyone who makes decisions that have economic results". Explain 2 uses of Accounting Information. Q2 "A basic knowledge of accounting is essential for everyone involved in managing a business". Do you agree? Explain Q3 A business information report has been obtained on Sugar City Prospects Ltd, a new sales lead. Your Sales Manager is naturally keen that credit terms can be agreed as soon as possible, and is very interested to learn what the data in the report means and how it helps with the account opening decision. Explain the usefulness of each of the following ratios in reviewing the performance of a business and your Sales Manager at Sugar City Prospects Ltd on his plans: i) ii) iii) iv) v) Net profit percentage Earnings per share Operating expense ratio Shareholders' equity ratio Age of debtors in days

Q1 "Accounting information is useful to anyone who makes decisions that have economic results". Explain 2 uses of Accounting Information. Q2 "A basic knowledge of accounting is essential for everyone involved in managing a business". Do you agree? Explain Q3 A business information report has been obtained on Sugar City Prospects Ltd, a new sales lead. Your Sales Manager is naturally keen that credit terms can be agreed as soon as possible, and is very interested to learn what the data in the report means and how it helps with the account opening decision. Explain the usefulness of each of the following ratios in reviewing the performance of a business and your Sales Manager at Sugar City Prospects Ltd on his plans: i) ii) iii) iv) v) Net profit percentage Earnings per share Operating expense ratio Shareholders' equity ratio Age of debtors in days

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter7: Financial Statements For A Proprietorship

Section: Chapter Questions

Problem 1CS

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Question

Please kindly answer all 6, thanks

Q4
The goal of preparing an annual report is to communicate information from a company to its
targeted users.
Q5
(i) Identify and discuss the basic factors of communication that must be considered in the
presentation of this information.
(ii) Discuss the communication problems a company faces in preparing the annual report
that result from the diversity of its users.
Broadly, all of the groups that were identified in this course as being users of accounting
information about a business except for the managers of the business tend to have access to the
same items of accounting information. This is typically the income statement, balance sheet
(sometimes called the statement of financial position) and cash flow statement. Managers, on
the other hand, have access to all the information that they want.
Why are managers treated so much better in the provision of accounting information than the
| other groups?
Q6
Explain at least 4 major internal controls that a business should consider and implement in the use
of business assets.

Q1
"Accounting information is useful to anyone who makes decisions that have economic results".
Explain 2 uses of Accounting Information.
Q2
"A basic knowledge of accounting is essential for everyone involved in managing a business".
Do you agree? Explain
Q3
A business information report has been obtained on Sugar City Prospects Ltd, a new sales lead.
Your Sales Manager is naturally keen that credit terms can be agreed as soon as possible, and is
very interested to learn what the data in the report means and how it helps with the account
opening decision.
Explain the usefulness of each of the following ratios in reviewing the performance of a business
and your Sales Manager at Sugar City Prospects Ltd on his plans:
i)
ii)
iii)
iv)
v)
Net profit percentage
Earnings per share
Operating expense ratio
Shareholders' equity ratio
Age of debtors in days

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