Give an example of how Data Analytics creates value for accounting.

Question

Want to see the full answer?

Answer 1

Question

Definition Definition Costs that a business is responsible for paying, should a particular event potentially occur in the future. Also called a potential liability, a contingent liability is generally recorded only when the amount of liability can be reasonably estimated and the contingency is likely to occur shortly. The Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Principles (IFRS) make it mandatory for the companies to record any contingent liability taking the principles of full disclosure, materiality, and prudence into consideration.

Chapter 1, Problem 3DQ

To determine

Give an example of how Data Analytics creates value for accounting.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

The equipment was sold for $60,000 The equipment was originally purchased for $33,000. At the time of the sale, the equipment had accumulated depreciation of$30,000. Calculate the gain or loss to be recorded on the sale of equipment.

Eldora Systems is a privately-held firm. You are asked to estimate its value using market data from a comparable public firm. The comparable firm has a stock price of $32.00, net income of $48,000, and 12,000 shares outstanding. Eldora Systems has an earnings per share (EPS) of $4.00. What is the estimated value per share of Eldora Systems? A) $12.00 B) $16.00 C) $20.00 D) $32.00 E) $28.00

Need urgently soln and don't answer if you don't know value sure unhel

Answer 2

Question

Definition Definition Costs that a business is responsible for paying, should a particular event potentially occur in the future. Also called a potential liability, a contingent liability is generally recorded only when the amount of liability can be reasonably estimated and the contingency is likely to occur shortly. The Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Principles (IFRS) make it mandatory for the companies to record any contingent liability taking the principles of full disclosure, materiality, and prudence into consideration.

Chapter 1, Problem 3DQ

To determine

Give an example of how Data Analytics creates value for accounting.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Definition Definition Costs that a business is responsible for paying, should a particular event potentially occur in the future. Also called a potential liability, a contingent liability is generally recorded only when the amount of liability can be reasonably estimated and the contingency is likely to occur shortly. The Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Principles (IFRS) make it mandatory for the companies to record any contingent liability taking the principles of full disclosure, materiality, and prudence into consideration.

Chapter 1, Problem 3DQ

To determine

Give an example of how Data Analytics creates value for accounting.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Definition Definition Costs that a business is responsible for paying, should a particular event potentially occur in the future. Also called a potential liability, a contingent liability is generally recorded only when the amount of liability can be reasonably estimated and the contingency is likely to occur shortly. The Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Principles (IFRS) make it mandatory for the companies to record any contingent liability taking the principles of full disclosure, materiality, and prudence into consideration.

Chapter 1, Problem 3DQ

To determine