Why are the realization and matching principles important?

Q: You are considering investing in a project with the following possible outcomes: Probability of…

A: The expected return is the value of profits that investment would provide on average. It is used by…

Q: The components of the conceptual framework ?

A:

Q: What is the purpose of EDI?

A: Electronic data interchange: The expansion of EDI is Electronic Data Interchange and it allows the…

Q: An entity began operations January 1, 2015 and reported the following net income or loss for five…

A: The details regarding company's income from 2015 to 2019 is given. The capital structure of the…

Q: Jane Austen purchased shares with a market price of $50 when the initial margin requirement was 70%.…

A: The initial margin requirement is the minimum amount of the shares that need to be paid to buy a…

Q: What is this question answer?

A: Net realizable value = Estimated Selling Price -  Cost of Completion and Disposal where, Cost of…

Q: Could someone please explain the DCF model

A: Introduction : Discounted cash flows (also known as discounted cash flows): As discounted cash…

Q: purpose of FA

A: FASB stands for Financial Accounting Standards Board. It is a non-profit organization that follows…

Q: BANK TRANSFER SCHEDULE DISBURSEMENT Recorded in RECEIPT Transfer Paid by bank Recorded in books 1/4…

A: How cash balance reacts to disbursements and receipt of cash? Disbursements of cash: Decrease in a…

Q: What are the key assumptions of the CAPM?

A: Introduction: The CAPM is an equilibrium model that stipulates the relationship between necessary…

Q: What assumptions are inherent in the EOQ model as presentedhere?

A: Economic order quantity (EOQ): Economic ordering quantity (EOQ) is the perfect order quantity a…

Q: 13. Adams Corp's sales last year were $57,000, and its total assets were $24,000. What was its total…

A: As per Bartleby Honor code, when multiple questions are asked, the expert is required only to solve…

Q: What is scalability?

A:

Q: What is the concept behind the EOQ model?

A: Economic Order Quantity (EOQ) Model: It is a method of inventory costing that aims to identify the…

Q: B. On January 1, 20X3, GG Co. purchased a new machine for P600,000. The machine had an es- timated…

A: Depreciation Expenses There are different method which are used to calculate the deprecation cost of…

Q: What is the objective of having a conceptual framework?

A: Conceptual framework means set of rules and guidelines that help the users and preparers in…

Q: A. FF Co. changed its inventory valuation from the FIFO cost method to the weighted average method…

A: Solution:- Introduction:- As per LIFO, Cost of goods sold is valued at latest price and closing…

Q: What is counterbalancing?

A: Errors: The comparability and consistency of the financial statements decreases when a company…

Q: What is sensitive analysis?

A: Sensitive analysis is a method for predicting the outcome of a decision if a situation turns…

Q: A. While examining the December 31, 2020 financial statements of Don Co., you discover the fol-…

A: 1) overstated opening inventory reduce net income, so we need to aad it back.  2) understated…

Q: 2. B Company produces a single product. The following costs were incurred during the company's first…

A: In variable costing, all variable production costs are included only in the cost of the product,…

Q: What is SAVANT Framework and what do you understand about it?

A: SAVANT stands for strategy, anticipation, value-adding, negotiating, and transforming. It was…

Q: What is COSO? What is the PCAOB?  Why are they important?

A: Committee of Sponsoring Organizations of the Tread way Commission (COSO) is an organization formed…

Audit Procedures

Audit Procedures are methods and techniques performed by the auditor to determine the quality of financial information of clients, thereby expressing an opinion on true & fair view of financial statements and entity position. They are identified and applied at the planning stage of audit after determining audit objectives, scope, approach, and risk assessment.