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What is refers to accounting information developed for the use of exterenal agencies?
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Do government tax agencies use accounting information to compute taxes?
Yes
Has business accounting software positively changed small accounting agencies as well as consumer conveniences?
Business accounting software has changed accounting agencies and consumer conveniences. It is now a lot easier to have account information done with software. Many people prefer this method and it works efficiently and avoids a lot of hassle. This type of software helps to keep account information, confidential information, and dates and times for small accountants. It also allows for the consumer to keep up with records for themselves. This way they also are able to know what the accountant does.
What records are used for accounting?
Accounting records include ledgers, invoices, receipts, correspondence with tax agencies, etc.
Which one of the following is not an external user of accounting information a. gulatory agencies. b. Customers. c. Investors. d. All of these are external users?
d. All of the above
Who is served by accounting and how do they benefit?
creditors,stockholders,government agencies and the general public.
Do government tax agencies use accounting information to compute taxes?
Yes
What employment staffing agencies specialize in accounting?
Employment staffing agencies that specialize in accounting are Spherion and Aerotek. Though they are temporary agencies they provide agencies with accountants when they are in need of extra people.
Has business accounting software positively changed small accounting agencies as well as consumer conveniences?
Business accounting software has changed accounting agencies and consumer conveniences. It is now a lot easier to have account information done with software. Many people prefer this method and it works efficiently and avoids a lot of hassle. This type of software helps to keep account information, confidential information, and dates and times for small accountants. It also allows for the consumer to keep up with records for themselves. This way they also are able to know what the accountant does.
What are agencies?
these are the agencies or socities which have a tie up with distant agencies from developed countries like US, which willl perform developmental work as per those developed societies
What records are used for accounting?
Accounting records include ledgers, invoices, receipts, correspondence with tax agencies, etc.
What are Bilateral agencies?
these are the agencies or socities which have a tie up with distant agencies from developed countries like US, which willl perform developmental work as per those developed societies
Which one of the following is not an external user of accounting information a. gulatory agencies. b. Customers. c. Investors. d. All of these are external users?
d. All of the above
Who is served by accounting and how do they benefit?
creditors,stockholders,government agencies and the general public.
Name some users of accounting information?
All businesses, organizations, and government agencies must use accounting information. These entities cannot run without money to pay for things like overhead, personnel, goods, services, etc. Also important is how much money there is to spend, how the money is spent, if there is profit or reserve, and if so, how much. Accounting information is how these needs are kept track of. This information is provided to the officials and personnel responsible for the money and financial transactions of the company, organization or agency.
What role does financial accounting play in decision making?
Accounting has been defined as the process of identifying, measuring, recording and communicating economic information to permit informed judgments and economic decisions. The primary purpose of accounting is to help persons make economic decisions. In our society resources must be allocated among and within all kinds of entities. Accounting information provides the basis for making decisions about resource allocation.Accounting information is financial information about economic activities. All economic entities (e.g. businesses, government agencies, families, charitable entities) need such information because it is used for making economic decisions about those entities.11 Hoggett, J.R., Edwards, L., & Medlin, J., Accounting in Australia, Fifth Edition, Chapter 1.
Accounting and bookkeeping?
Accounting is the measurement, processing and communication of financial information about economic entities. It is also called "language of business", and measures the results of an organization's economical activities and delivers this information to a variety of users including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants.Bookkeeping in business, is the recording of financial transactions, and is part of the process of accounting. Transactions include purchases, sales, receipts and payments by an individual or organization. The accountant creates reports from the recorded financial transactions recorded by the bookkeeper and files forms with government agencies.
The statutory and regulatory framework for accounting profession of Nigeria?
Regulation of accounting information is aimed at ensuring that users of financial statements receive a minimum amount of information that will enable them take meaningful decisions regarding their interest in a reporting entity. The bodies responsible for these regulations are often statutory agencies such as the Accounting Standards Board, Securities and Exchange Commission and the Stock Exchange. The bulk of this framework is usually contained in Accounting Standards. The Nigerian Accounting Standards Board is the body responsible for the issuance of Accounting Standards in Nigeria. This Board was initially an advisory body responsible for the production of standards that will serve as a guide to Accountants in the preparation of financial statements.
