Accounting : CHAPTER TEN

B. Qualitative characteristics of accounting information. D. Provide information necessary to evaluate the SLG’s operating results for the period. A. Provide information necessary to assess the level of LG services and its ability to continue to finance its activities and meet its obligations. Which of the following activities would most likely be accounted for as a business-type activity? Which of the following characteristics best distinguishes a government entity from a business entity? For instance, if you are in the beauty industry, you need to look for references that are also in the beauty industry if you want to get the best accounting firm for your needs quickly. Research has proven that the best way to learn is to ask, answer, and discuss. Many business related persons are switching their traditional way of accounting to Account Management by first-class programmed software. A. A software company that sells software exclusively to state and local governments. The software is cost efficient as it saves lots of money spent on Accountants and senior Accountants at every branch of the company.

Which of the following is not a provision of the Public Company Accounting Reform and Investor Protection Act of 2002? Which of the following is not an operational accountability measure for a government? C. Provide a means of demonstrating the SLG’s accountability that enables users to assess that accountability. To take advantage of the advertised discount offer, you must buy now; discount offer not available to trial users who later subscribe to Accounting. Amendments to IFRS by common-law countries must be done legislatively. All not-for-profit organizations that do not meet the definition of governments must apply A. FASB standards. A. A FASB standard. A. A FASB standard on pension accounting. B. A GASB standard on pension accounting. Rank the following documents in the proper order in the governmental GAAP hierarchy: A. GASB Implementation Guide; b. Which of the following has the highest level of authority for a government under GAAP?

Which of the following has the highest level of authority for a government in the governmental GAAP hierarchy? Which of the following would not be considered a government or nonprofit organization? C. Assessment whether a government raised sufficient revenues each period to cover the cost of providing services. D. Assessment whether services are being provided economically and efficiently. Thus, becoming an Accountant and being certified is a smart choice, because you will be in high demand and has the chance to have a long and successful career. Assuming that you want to get the job, apart from being knowledgeable, you have to have connections that are currently there so you are given the position instead of somebody else. If you want to run it in house, then you’ll need expert staff to handle things. Your accounting staff will be trained, and they will be able to ensure that your financial information is up-to-date. The FASB’s conceptual framework’s qualitative characteristics of accounting information include: A. Full disclosure. Pronouncements issued by the Committee on Accounting Procedures: A. Dealt with specific accounting and reporting problems. Cost control is not a specific program. B. Cost analysis and other control and evaluation techniques are essential to ensure that resources are used economically and efficiently.

Which source of financial resources is unique to governments? C. Those contributing resources to the entity do not necessarily receive a direct or proportionate share the services. A. Economic cost of providing services. It is not primarily concerned with providing information towards the more efficient conduct of a business. B. Provide information necessary for investment and credit decisions. This is important because this can make information about your business more accessible. Bugs, automation limitations, training and security issues are some instances where the accounting apps can come short. An accounting software package that has unnecessary features that your business does not need will be more costly. You will have compensation claims for damages suffered, reputational damage and loss of consumer trust to consider. D. A private trust organized for charitable purposes. If possible, responsibility for such variances should be established, so management can immediately take the necessary and appropriate course of action. The asset should have been bought for use on a continuing basis rather than for sale in the ordinary course of business. It allows users to use current identities for internal processes, systems, and technologies.

If you prefer, you can use your mouse and click cell A2. Your degree can be utilized within many fields of accounting, adding diversity and growth to your qualifications. Popular undergraduate majors for students interested in earning an MBA include accounting, economics, finance, mathematics and Corporate Finance administration. Which of the following is not a potential benefit of accrual accounting, compared to cash-basis accounting? Which of the following areas is NOT emphasized in the CMA examination? Management consultancy and financial services are important areas of work. Due to this tremendous response from investors, enhancing revenues in order to keep the stock prices favorable for AOL TW’s stockholders became the core objective of the AOL management and its employees. Which of the following is not a primary financial reporting objective of state and local government (SLG) reporting? C. AICPA state and local government audit guide coverage of pensions. D. AICPA Audit and Accounting Guide, Not-for-Profit Organizations. AICPA Practice Bulletin. A. a; b; c; d.