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What analysis involves the comparison of different firms financial ratios at the same point in time?
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How does cost accounting relates to management accounting and financial accounting?
cost accounting provides the basic information for both management and financial accounting.The similarities between government accounting and financial accounting is that both involves the balance of accounts.
What do accountants do on a day to day basis?
Accountant is a very broad designation and it is a general term. Accounting can be divided in to 2 more common categories. 1. Financial Accountant 2. Management Accountant A Financial Accountant normally involves in statutory reporting of financials to interested parties. On a normal day to day basis he/she may involve in managing the Accounts Payable and Receivable function, Cash flow management, banking related matters, preparation of documents for state and federal taxes. The information and the reporting provided by a Financial accountant is mainly for the stakeholders and other interested parties. A Management Accountant normally involves in Product Costing, Pricing, Management reporting on performances, Variance analysis, budgeting and forecasting. Management Accountant's get involved in a more analysis role and the reporting that he/she provides is for internal purposes only.
What does restore the petty cash imprest mean?
Involves having a fixed sum of amount ,which will revove for a financial year.
Why not to outsource accounting?
International outsourcing involves complexity and risks not found in typical domestic outsourcing. These risks are cultural, political, financial, technological, managerial and legal.
What is the role of a Management Accountant?
A management accountant performs various tasks to ensure their company's financial security. Their role involves handing all financial matters. Duties may vary depending on the company but can include handling taxes, budgeting, and managing assets.
What are the merits and demerits of ratio analysis?
Financial ratio analysis is a useful tool for users of financial statement. It has following advantages:AdvantagesIt simplifies the financial statements.It helps in comparing companies of different size with each other.It helps in trend analysis which involves comparing a single company over a period.It highlights important information in simple form quickly. A user can judge a company by just looking at few numbers instead of reading the whole financial statements.LimitationsDespite usefulness, financial ratio analysis has some disadvantages. Some key demerits of financial ratio analysis are: Different companies operate in different industries each having different environmental conditions such as regulation, market structure, etc. Such factors are so significant that a comparison of two companies from different industries might be misleading.Financial accounting information is affected by estimates and assumptions. Accounting standards allow different accounting policies, which impairs comparability and hence ratio analysis is less useful in such situations.Ratio analysis explains relationships between past information while users are more concerned about current and future information.
What is the nature and scope of financial statement analysis?
Financial statements are means through which companies present their financial situation to shareholders, creditors and general public. Analysis of financial statement means finding out the current position of the company through various tools like ratio analysis, fund flow analysis. It also involves comparing the company fiqures with regard to industry standards or over a period of time.
What sequence involves an analysis of how things look?
spacial sequence involves an analysis of how things look
What is speculative analysis?
Speculative analysis involves making predictions or assumptions about future events or outcomes based on limited information or incomplete data. It often involves a degree of guesswork or estimation, and the results may not always be accurate or reliable. Speculative analysis is commonly seen in financial markets or when trying to forecast trends in various industries.
What are the Basic steps involved in the process of financial analysis under financial management?
Financial analysts or simply analysts are required to analyse different types of financial information and provide recommendations to their clients or end users. In that sense analysts work as an adviser who advise or recommend appropriate actions that users should take to gain favourable results. In short, many people rely on analysts and their recommendation. Because of this level importance of the work performed by analysts it is always good if we have financial statements analysis framework in order to conduct different types of analysis efficiently and effectively.The financial statement analysis framework that is taught is more of a general nature that can be applied in multiple types of analysis. No singular entity has developed this framework rather it is a resultant of different frameworks introduced by renowned analysts for different purposes. Due to this reason it is generic in nature. The financial analysis framework has components as adapted from the frameworks and approaches suggested by different authors in their books. For example as referenced in CFA curriculum, few components of this framework has been adapted from the "Stages of the analytical review process" as suggested in Analysis and Managing Banking Risk:According to this framework there are SIX (6)stages or phases or steps which should be followed to conduct financial statement analysis. All six steps are connected to each other in a series where the outcome of one phase will serve as an input to the next. Each phase has its own crucial importance requiring different tasks to be done in order to initiate next phase properly.Following are the SIX steps, phases or stages in financial statement analysis framework:Establish objectives of financial analysis by defining the purpose and context of financial statements analysisCollect data necessary for financial analysis from different sourcesProcess the data gathered in the second phase which may range from simple sorting and adjustments to preparing common-size financial statements and graphical representation of ratios and trendsConduct analysis on processed data and interpret the resultsDevelop recommendations in the light of inferences drawn from analysis conducted and report/communicate them to relevant personnel. This phase is the most critical of all from different perspectives. As it involves many responsibilities on part of the analysts that he is required to fulfill regarding the recommendations and communication of those recommendations.Follow up (Review), if necessary, the information gathered, conclusions reached on the basis of analysis and recommendations made on periodic basis by repeating the all above 5 steps to check whether conclusions reached and recommendations given earlier need any revisions or not on the basis of updated information.
What term literally means comparison of the shape or form and involves the comparison of the anatomy and development of organisms?
morphologymorphology
What term literally means comparison of shape or form and involves the comparison of the anatomy and development of organism's?
morphologymorphology
What term literally means comparison of shape or form and involves the comparison of the anatomy and development or organism?
morphologymorphology
What term literally means comparison of shape or form and involves the comparison of anatomy and developement of organisms?
morphologymorphology
What term literally means comparison of shape or form and involves the comparison of the anatomy and development of organisms?
morphologymorphology
What term literally mean comparison of shape or form and involves the comparison of the anatomy and development of organism?
morphologymorphology
What is the main difference between Experimental Analysis of Behavior and Applied Behavior Analysis?
Behavior analysis consists of 3 main areas of study that are distinctive (behaviorism, experimental analysis of behavior, and applied behavior analysis). Experimental analysis of behavior was created by B.F. Skinner and involves clinical or laboratory experiments that demonstrate basic principles of behavior. Applied behavior analysis derived from experimental analysis and involves applying the basic principles in invidual's natural settings. Basically, the settings and some methodoligies used for experimental control are different.
