relevant (differential) revenues and relevant (differential) costs

Q: Distinguish between program service expenses and supporting service expenses.

A: A nonprofit organization’s expenses can be classified into two types, they are expenses for program…

Q: In grouping expenses for planning and control purposes, what is the difference between grouping by…

A: For planning and control purposes it is important to categorize cost into cost centers.

Q: Distinguish between discretionary fixed costs and committed fixed costs.

A: Discretionary fixed costs and committed fixed costs: Both costs are considered as fixed costs but…

Q: Define Miscellaneous expense.

A: Step 1 Expense is the amount incurred by the organization to generate revenue. It is shown in the…

Q: Revenue Recognization Question. What is the significant difference between the Contract-Based…

A: Revenue recognition is the accounting principle that outlines the conditions under which revenue…

Q: Describe the different approaches of expense recognition.

A: Expenses are being recognized when the revenues and relevant expenses are matched for the same…

Q: Describe the decisions about expenditure?

A: Expenditure:   It is the money spent by the organization to purchase or increase the value of their…

Q: Zahava Corporation sells equipment to Ari Company for $700,000. Ari does not need the equipment…

A: 1. Journal Entry In the books of Z

Q: Explain service method of allocating prior service cost.

A: Service cost refers to the part of pension expenses deducted every year. Service cost is amortized…

Q: how to do a cost of prodution report

A: The cost of production report is prepared by the following four steps

Q: differences between the FASB and GASB

A: Accounting is a practice that helps the business to keep its transactions in legal-mentioned form.…

Q: Explain an example of deferred expense.

A:

Q: What do the comparison of alternatives with unequal service livesrequire?

A: Present worth means discounting the future cash flows at the interest rate. The calculation of the…

Q: Why does Recognizee revenue when (or as) each performance obligation is satisfied,” is important?

A: Performance obligations are promises to transfer goods or services to a customer. In a transaction…