Paper details: Businesses elect to use different accounting approaches. Two of the popular approaches are accrual and cash basis accounting methods. If you opened a small business, would you use the cash basis or the accrual basis of accounting? What factors would you consider in your decision
Tag Archives: Accounting
Create a list of accounts (essentially a chart of accounts) that your restaurant would have for accounting (and operating) purposes. The list should contain assets, liabilities, revenues, and expenses.
1. Decide on a restaurant that you have recently visited. My suggestion is to pick a locally owned restaurant; however, feel free to select any restaurant. 2. Think about your recent visit to the restaurant from step 1. 3. Think about the various accounts that the restaurant would have/need to operate and how they would […]
Name the assumptions underlying generally accepted accounting principles. Comment on the validity of the stable unit of measurement assumption during periods of high inflation. Explain and provide example
Name the assumptions underlying generally accepted accounting principles. Comment on the validity of the stable unit of measurement assumption during periods of high inflation. Explain and provide example
Identify a company that you believe would use job order costing and another company that you believe would use process costing. Identify a third company that uses activity-based costing allocations. Discuss why each might use the method you identified with them. Compare and discuss the similarities and differences you see in the companies.
Identify a company that you believe would use job order costing and another company that you believe would use process costing. Identify a third company that uses activity-based costing allocations. Discuss why each might use the method you identified with them. Compare and discuss the similarities and differences you see in the companies.
Briefly describe your current or aspiring professional identity, including the field in which you work or hope to work. To what extent does (or will)financial accounting play a role in your day-to-day professional life?
1ACC 201 Final Project II Guidelines and Rubric Overview One of the measures of success for any business is profitability. Managers and business owners must be able to assess the profitability of a company using information about its financial transactions: This is done through accounting. By working through the accounting cycle, you will understand how […]
What are the many elements that go on the balance sheet? What are specific sections of the classified balance sheet, and what goes into each section? What, therefore, can we learn from the balance sheet?
post a well-researched paper on the topic below and cited answer in your own words. 1. What are the many elements that go on the balance sheet? What are specific sections of the classified balance sheet, and what goes into each section? What, therefore, can we learn from the balance sheet?
Distinguish between the GAAP and IFRS treatment for accounting for income taxes.
Distinguish between the GAAP and IFRS treatment for accounting for income taxes.
How is the statement of retained earnings prepared? What is the purpose of closing entries? What accounts are not affected by closing entries? Explain and provide examples
How is the statement of retained earnings prepared? What is the purpose of closing entries? What accounts are not affected by closing entries? Explain and provide examples.
Discuss,If you were tasked with starting a new healthcare clinic, would you lean toward using the cash or accrual method of accounting? Why? How would revenue recognition and expense-matching principles be related to your decision.
Reflect on the volatility of the market, and discuss how you could leverage your knowledge of healthcare financial management to increase productivity and financial stability of your organization (or an organization where you want to work). If you were tasked with starting a new healthcare clinic, would you lean toward using the cash or accrual […]
What is accounting? What is the purpose of the discipline? What is financial accounting? What is managerial accounting? What are the differences between financial and managerial accounting?
1. What is accounting? What is the purpose of the discipline? What is financial accounting? What is managerial accounting? What are the differences between financial and managerial accounting?
