Identify the following users of accounting information as either an (a) external or (b) internal user. Shareholder

Q: Describe the various types of individuals who use accounting information and how they use that…

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Q: What is the role of the Public Company Accounting Oversight Board?

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Q: A summary of the company’s significant accounting policies is a required disclosure. Why is this…

A: Disclosure of accounting policies: Disclosure of accounting policies means disclosing the accounting…

Q: Define accounting, and describe the roles of private andpublic accountants.

A: Accounting is a process of identifying business transaction, analyzing, measuring, recording, and…

Q: For each of the following users of financial ače accounting information, specify whether the user…

A: Important thing to Note the parties which are outside to the organization will not have access to…

Q: The accounting process generates financial reports forboth internal and external users. Describe…

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Q: Which of the following is an internal user of a company’s financial information? a. board of…

A: Internal users of the company's financial information refer to the people who manage the daily…

Q: information would include ........ .

A: External users are people outsidebusiness entity who use accounting information.external users are…

Q: why Chief Financial Officer must have a background on the following subjects: Financial Accounting…

A: why Chief Financial Officer must have a background on the following subjects:  Financial…

Q: An organization’s investors and creditors will primarily use information provided by:a. the…

A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…

Q: Financial Accounting and Reporting, Advanced Financial Accounting and Reporting, Management…

A: The duties of a controller include assisting with the preparation of the operating budget,…

Q: Which of the following factors should influence business and accounting decisions?a. Economicb.…

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: examples of decisions that can be supported by accounting information

A: Accounting information represents the financial information about the company which is useful for…

Q: n the role of the accounting system according to the agency theory

A: Agency theory is one of the common problem in the organization form of the system and that exist due…

Q: analyze company disclosures of signifi cant accounting policies

A: Accounting principles are the principles that are framed by the Company to carry on the activities…

Q: Who among the following is a direct user of accounting information? Labor association Financial…

A: Users of accounting information is classified into 2 categories:  a. Direct users  b. Indirect users…

Q: prudence concept a

A: Prudence concept is a fundamental accounting concept.

Q: Who are the most important consumers of accounting information and why do they need it? What kind of…

A: Here is the Answer

Q: Accounting is the process of identifying, recording, analyzing, and communicating financial…

A: Accounting : The accounting is defined as the process of identifying the financial transaction,…

Q: Role of accounting officer

A: An accounting officer is a person who is responsible for the financial record keeping of the…

Q: Which of the following is an internal user of a company's financial information?   A shareholder in…

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Q: Explain the purpose of the Public Company Accounting Oversight Board.

A: Auditing:   In auditing, auditors verify the correctness and fair presentation of financial…

Q: Identify TWO external consumers of accounting information and explain how that accounting…

A: Introduction: The term "financial statement" refers to any statement, such as an income statement, a…

Q: Explain each of the following items:a. Staff Accounting Bulletins.b. Wraparound filing.c.…

A: a. Staff Accounting Bulletins: Staff Accounting Bulletins are published by the staff of SEC. Its…

Q: What elements should accountants examine while developing a company's PPE accounting policy

A: The assets on a company's balance sheet are the things that will bring it money in the future. The…

Q: Who are the key users of accounting information? What type of information does each stakeholder…

A: Accounting: Accounting refers to the information system, where the economic activities of a business…

Q: Explain why establishing accounting standards is characterized as a politicalprocess

A: The standard setting process is a political process that is affected by the impact of several…

Q: Identify the following users of accounting information as either an (a) external or (b) internal…

A: External users of accounting information are those persons which are external to the organisation…

Q: Shareholders are external user of accounting information . The answer is true or false

A: The objective of the financial statement or accounting information is to provide information about…

Q: Describe the recognition, measurement, and disclosure concepts that guide accounting practice.

A: Accounting concepts are referred to the basic assumptions, principle and rules which guides the…

Q: e business activities

A: The financial statement is the major in accounting.

Q: Identify the following users of accounting information as either an (a) external or (b) internal…

A: Internal users: Internal users of the financial statement are the inside individuals or the members…

Q: Which of the following is included within the financial statements? A. Board of Directors' Report…

A: Financial statements: These refer to the formal or official records of the activities of the…

Q: Identify the following users of accounting information as either an (a) external or (b) internal…

A: Internal Users: The internal users are the users of the information who are within the…

Q: Describe the organization of public accounting firms and identify the variousservices that they…

A: A small business might use a public accounting firm to prepare the monthly or quarterly financial…

Q: Identify the following questions as most likely to be asked by an internal (I) or an external (E)…

A: Users of financial information:   Users of financial information are broadly classified into two…

Q: You are approached to comment on a company’s accounting disclosure quality. As an accounting…

A: Accounting disclosures are the information that the company discloses with the financial information…

Q: Describe the internal role of accounting for organizations.

A: Accounting refers to the method of communicating financial information to users such as investors,…

Q: eXtensible Business Reporting Language

A: XBRL (extensible Business reportage Language) XBRL (extensible Business reportage Language) may be…

Q: Explain the impact of accounting standards suchas GAAP and the Sarbanes-Oxley Act on…

A: After a prolonged period of corporate scandals (e.g., Enron and Worldcom) in the United States from…

Q: Which of the following statement is true about purpose of accounting? Select one: a. The purpose…

A: Introduction: Accounting: Accounting is an art of recording , classifying , summarizing and…