0
successful operations are based on an organisations ability to adapt to change.
valuations based on exit price=net selling price in an orderly market (current cash equivalents )
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
What is nature meaning and elements of accounting theory?
Accounting Theory is defined as the study of methodologies and financial accounting principles. The Accounting Theory is continuously-evolving and changing.
What is the contemporary issues of cost accounting?
iu dont know
What is the fundamental structure of accounting?
described the double-entry system, which continues to be the fundamental structure for contemporary accounting systems in all types of entities.
What is the inventory system employing accounting records that continuously disclose the amount of inventory remaining called?
perpetual
What are the Strength and weakness Continuously contemporary accounting?
Some strengths of Continuously Contemporary Accounting would include: · CoCoA provides information about an entity's capacity to adapt. Chambers considers such information crucial for effective decision making · It solves the 'additivity' problem-there is a common basis of valuation (net-market values) so it makes logical sense to add the various asset values together. · There is no need for arbitrary cost allocations through depreciation. Some weaknesses of Continuously Contemporary Accounting would include: · Not all assets will have a readily determined market price-hence a deal of subjectively will be involved. · Some assets can generate income within a particular entity, but have little or no value to anybody else (for example, the case of the blast furnace). The 'value in use' of such assets is ignored. · It values assets on the basis of the separate disposal of the respective assets. The implication of this is that assets which cannot be separately sold are deemed to have no value-for example, goodwill. This attribute of CoCoA has attracted a great deal of criticism. · CoCoA has never had widespread acceptance within the business community and hence there would be numerous obstacles to its implementation. · Because CoCoA would represent a radical departure from current methods of accounting, its adoption could cause major social and economic implications. · People are used to preparing and reading historical cost accounting reports, hence there would be a need to re-educate them about the strengths and limitations of CoCoA-this might be costly. · If an entity does not expect to sell an asset, it is questionable whether the selling price is really that relevant. · Tied to the above point, valuing all assets on the basis of selling prices has been criticised if it is considered that the entity is a going concern. · Determining the market price of unique assets introduces a degree of subjectivity into the accounting process.
When was Contemporary Accounting Research created?
Contemporary Accounting Research was created in 1984.
What are the current development in contemporary history?
contemporary developements in accounting
What has the author R J Chambers written?
R. J. Chambers has written: 'Varieties and uses of financial information' 'Accounting theory and research' -- subject(s): Accounting, Research 'The resolution of some paradoxes in accounting' -- subject(s): Accounting 'Continuously contemporary accounting' -- subject(s): Current value accounting 'Accounting, evaluation and economic behaviour' 'Current cost accounting' -- subject(s): Accounting, Cost accounting, Great Britain, Great Britain. Inflation Accounting Committee
What is nature meaning and elements of accounting theory?
Accounting Theory is defined as the study of methodologies and financial accounting principles. The Accounting Theory is continuously-evolving and changing.
What is the contemporary issues of cost accounting?
iu dont know
What is the fundamental structure of accounting?
described the double-entry system, which continues to be the fundamental structure for contemporary accounting systems in all types of entities.
The inventory system employing accounting records that continuously disclose the amount of inventory is called?
Perpetual System
What is the inventory system employing accounting records that continuously disclose the amount of inventory remaining called?
perpetual
What are the Strength and weakness Continuously contemporary accounting?
Some strengths of Continuously Contemporary Accounting would include: · CoCoA provides information about an entity's capacity to adapt. Chambers considers such information crucial for effective decision making · It solves the 'additivity' problem-there is a common basis of valuation (net-market values) so it makes logical sense to add the various asset values together. · There is no need for arbitrary cost allocations through depreciation. Some weaknesses of Continuously Contemporary Accounting would include: · Not all assets will have a readily determined market price-hence a deal of subjectively will be involved. · Some assets can generate income within a particular entity, but have little or no value to anybody else (for example, the case of the blast furnace). The 'value in use' of such assets is ignored. · It values assets on the basis of the separate disposal of the respective assets. The implication of this is that assets which cannot be separately sold are deemed to have no value-for example, goodwill. This attribute of CoCoA has attracted a great deal of criticism. · CoCoA has never had widespread acceptance within the business community and hence there would be numerous obstacles to its implementation. · Because CoCoA would represent a radical departure from current methods of accounting, its adoption could cause major social and economic implications. · People are used to preparing and reading historical cost accounting reports, hence there would be a need to re-educate them about the strengths and limitations of CoCoA-this might be costly. · If an entity does not expect to sell an asset, it is questionable whether the selling price is really that relevant. · Tied to the above point, valuing all assets on the basis of selling prices has been criticised if it is considered that the entity is a going concern. · Determining the market price of unique assets introduces a degree of subjectivity into the accounting process.
Historical background of accounting in Nigeria?
The historical background of taxation in Nigeria indicates that the first form of taxation occurred in Northern Nigeria. Taxation started in the pre-colonial era and has been improved over the years.
What has the author Levis D McCullers written?
The author Carson McCullers is known for writing novels such as "The Heart is a Lonely Hunter," "Reflections in a Golden Eye," and "The Member of the Wedding." She is also recognized as a prominent figure in American Southern Gothic literature.
Did galileo invent the themomiter?
Galileo Galilei did not invent the thermometer. The thermometer was actually invented by Galileo's contemporary, Galileo's contemporary, Galileo's contemporary, Galileo's contemporary, Galileo's contemporary, Galileo's contemporary, Galileo's contemporary, Galileo's contemporary, Galileo's contemporary, Galileo's contemporary, Galileo's contemporary, Galileo's contemporary, Galileo's contemporary Galileo's contemporary, Galileo Galilei. The thermometer was actually invented by Galileo's contemporary, Galileo's contemporary.
