Financial accounting a. is concerned with the information about the firm as a whole. b. has to adhere to GAAP c. focuses on external users. d. all of the above
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Financial accounting
a. is concerned with the information about the firm as a whole.
b. has to adhere to GAAP
c. focuses on external users.
d. all of the above
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- The reporting of accounting theory is related to ........ Select one : a . Principles b . Regulation c . Financial Information d . HypothesisThe main user group of management accounting is the O A. managers O B. investors O C.creditors O D. lendersWhich of the following statements correctly distinguishes between management accounting and financial accounting? O A. Financial accounting is oriented toward the future. O B. Financial accounting is primarily concerned with providing information for internal users. OC. Management accounting is oriented more toward the planning and control aspects of management. OD. Management accounting reports on the whole organization.
- The primary objective of financial accounting is to provide general purpose financial statements to help external users analyze and interpret an organization's activities. Group of answer choices True FalseExplain the Consistency principle, which is one of the GAAP content in financial accounting, by giving examples.The accounting system should provide information for: Select one: O A. Reporting actual performance to managers O B. Strategic decisions O C. Preparation of financial statements O D. All of the above.
- financial accounting focuses on providing information to internal users , is it true or false ?The accounting process generates financial reports forboth internal and external users. Describe some of the specific groups of internal and external usersWhich of the following are the fundamental characteristics of accounting information? O a. Predictive value and feedback value. Ob. Relevance and faithful representation. Oc Relevance and verifiabilily. Od. Timeliness and understandability. O e. Verifiability and taithful representation.
- accounting and financial reporting is based at the best practice principles and conceptual framework. explain consisely the following conceptual frame work. a- matching principle b- going concern concept c- pradence concept1. The inputs in the information system is called as a. reportsb. documentsc. transactionsd. accounts 2. Which of the following are considered as external users of information? (Check all that apply) a. Creditorsb. Stockholdersc. Operations personneld. Supplierse. Accountantsf. Customersg. Tax AuthoritiesWhich of the following is a fundamental characteristic of accounting information? Select one: O A. Predictive Value O B. Completeness OC. Faithful Representation O D. Comparability Tin Finish