The following information was extracted from the accounting records of Brankov Company: Beginning Paid-in Capital Beginning Retained Earnings Beginning Assets Contributions by Owners Cash dividends declared Revenues $90,000 $300,000 $455,000 $0 $0 $200,000 Expenses $155,000 A+ +he ond ofthe noried wıhet ig the totel Qunt of ateol-heldora! eguituo

Q: Explain the difference between management accounting and financial accounting.

A: ANSWER : Basis of difference Management accounting Financial accounting 1. Meaning…

Q: Describe the basic assumptions of accounting.

A: Accounting is a systematic process of identifying, recording, measuring, classifying, verifying,…

Q: Describe the conceptual framework of accounting principles.

A: The conceptual framework can be defined as a system of ideas and objectives that lead to the…

Q: Describe accounting's internal function in organisations.

A: Introduction: Accounting is transmitting financial data to users such as investors, individuals, and…

Q: What is ABC system in accounting? Explain with example?

A:

Q: How does management accounting differ from financial accounting?

A: State the way in which the management accounting differs from financial accounting:Accounting is an…

Q: 1)What isCharacteristics of management accounting ?

A: Management accounting is a form of accounting system which is useful for management of the…

Q: Management is characterized as an internal or external user of accounting information?

A: The accounting information comprises of financial statements of the business such as income…

Q: What makes accounting characteristics important?

A: The practise of recording a business's financial transactions is known as accounting. As part of the…

Q: What constraints are there within financial and managerial accounting reporting?

A: Managerial accounting:   Managerial accounting is more focused towards analyzing information and…

Q: discuss the importance of accounting interdependence in accounting information systems.

A: An Accounting Information System is a system that is used  to collect, process, manage data with…

Q: Name different accounting concepts.

A: Lets start with the basics. Accounting concepts are the basic thing to make the accounting…

Q: Define strategy in accounting?

A: Strategic management accounting refers to the managing and analyzing finances of company which help…

Q: management accounting and financial accounting distinctions

A: Managerial accounting is the accounting used by managers and other internal users to make corporate…

Q: Define Financial accounting.

A: Commerce:   It refers to a platform that facilitates buying and selling of products and services…

Q: Describe the difference between financial accounting and managerial accounting, highlighting their…

A: Financial Accounting: Financial accounting is a branch of accounting that focuses on the recording,…

Q: Why accounting information elements that may affect by stakeholders

A: Accounting is the process of recording, classifying and summarizing accounting information in such a…

Q: Differentiate broadly between financial accounting and managerial accounting.

A: Financial accounting:Financial accounting is the process of recording, summarizing, and reporting…

Q: what are the common problems inc accounting?

A: Accounting issues can lead to significant financial statement errors, undetected fraud because of…

Q: mples where accounting is used as aid in performing the management funct

A: Basic Accounting Concept  Management Information System

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: Is there a distinction between management and financial accounting?

A: Accounting refers to a process through which all day-to-day activities or transactions occurred or…

Q: Who are the focused users/stakeholders of financial accounting and cost accounting?

A: Financial and Cost accounting are the major accounting area in an organization. It will helpful to…

Q: a. What are the techniques that are commonly used in Management accounting?

A: Management Accounting :— Management Accounting are also known as cost accounting of Management…

Q: Distinguish between Accounting Information System (AIS) and Management Information System (MIS).

A: Accounting Information System means the system to record financial transactions of any business…