The view of Person X. General ledger/business reporting process (GL/BR): General ledger can be defined as the central data repository needed to develop the business reports. The business reports and other forms of information generation are all derived from the general ledger data repository. The GL/BR process is considered as a central activity of the accounting information systems.

Question

What is XBRL Taxonomy? How do you as a preparer of financial statement use the XBRL Taxonomy in locating a label for a specific financial element?

Answer 1

Question

Chapter 16, Problem 7DQ

Summary Introduction

To explain: The view of Person X.

General ledger/business reporting process (GL/BR):

General ledger can be defined as the central data repository needed to develop the business reports. The business reports and other forms of information generation are all derived from the general ledger data repository. The GL/BR process is considered as a central activity of the accounting information systems.

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What is XBRL Taxonomy? How do you as a preparer of financial statement use the XBRL Taxonomy in locating a label for a specific financial element?

Answer the following questions: a) How do you handle financial risk? b) How do you describe financial performance? c) How do you analyze financial performance? Full discussion.

State how financial statement can facilitate sound financial analyst. Provide a concrete example.

Answer 2

Question

Chapter 16, Problem 7DQ

Summary Introduction

To explain: The view of Person X.

General ledger/business reporting process (GL/BR):

General ledger can be defined as the central data repository needed to develop the business reports. The business reports and other forms of information generation are all derived from the general ledger data repository. The GL/BR process is considered as a central activity of the accounting information systems.

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Answer 3

Question

Chapter 16, Problem 7DQ

Summary Introduction

To explain: The view of Person X.

General ledger/business reporting process (GL/BR):

General ledger can be defined as the central data repository needed to develop the business reports. The business reports and other forms of information generation are all derived from the general ledger data repository. The GL/BR process is considered as a central activity of the accounting information systems.

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Answer 4

Question

Chapter 16, Problem 7DQ

Summary Introduction

To explain: The view of Person X.

General ledger/business reporting process (GL/BR):

General ledger can be defined as the central data repository needed to develop the business reports. The business reports and other forms of information generation are all derived from the general ledger data repository. The GL/BR process is considered as a central activity of the accounting information systems.

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Answer 5

Chapter 16, Problem 7DQ

Summary Introduction

To explain: The view of Person X.

General ledger/business reporting process (GL/BR):

General ledger can be defined as the central data repository needed to develop the business reports. The business reports and other forms of information generation are all derived from the general ledger data repository. The GL/BR process is considered as a central activity of the accounting information systems.

Answer 6

Chapter 16, Problem 7DQ

Summary Introduction

To explain: The view of Person X.

General ledger/business reporting process (GL/BR):

General ledger can be defined as the central data repository needed to develop the business reports. The business reports and other forms of information generation are all derived from the general ledger data repository. The GL/BR process is considered as a central activity of the accounting information systems.

Answer 7

Chapter 16, Problem 7DQ

Summary Introduction

To explain: The view of Person X.

General ledger/business reporting process (GL/BR):

General ledger can be defined as the central data repository needed to develop the business reports. The business reports and other forms of information generation are all derived from the general ledger data repository. The GL/BR process is considered as a central activity of the accounting information systems.

Answer 8

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Answer 19

Ch. 16 - Prob. 1RQ Ch. 16 - Prob. 2RQ Ch. 16 - Prob. 3RQ Ch. 16 - What, in your own words, are a performance report...Ch. 16 - Prob. 5RQ Ch. 16 - Prob. 6RQ Ch. 16 - What limitations are faced by contemporary...Ch. 16 - Prob. 8RQ Ch. 16 - Prob. 9RQ Ch. 16 - Prob. 10RQ

Solution Summary: The author explains that the general ledger/business reporting process (GL/BR) is considered as a central activity of the accounting information systems.

Chapter 16 Solutions