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2 years ago

According to the conceptual framework, the objectives of financial reporting for business enterprises are based on.

1 answer:

3 0

Financial reporting objectives for companies, according to the conceptual framework, are based on user needs, to be used as a periodic assessment of organizational performance.

<h3 /><h3>Financial reports</h3>

Responsible for supporting organizational decision-making, their objective is to analyze, monitor and report the performance of an organization, to determine the financial health of the business, demonstrate transparency and assist in the decision-making process.

Therefore, financial reporting objectives are based on user needs, ie a company uses such reports to measure performance, determine projections, analyze resource utilization and make more effective decisions.

Find out more information about financial reports here:

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In a command economy do highly skilled workers earn more, less, or the same as low-skilled workers?

Scilla [17]

In a command economy, depending on most of the businesses, consumers can either buy more, or buy less than they would in a different economy. But because of the fluctuation businesses experience with their profit rates and so on, highly skilled workers are paid the same as low-skilled workers.

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3 years ago

Winsor Construction Company uses the percentage-of-completion method of accounting. In 2007, Winsor began work on a contract it

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Answer:

The gross profit recognized in 2007 is $1,200,000

Explanation:

Use the following formula to the percentage of completion

Percentage of completion = Total Cost / Contract price

Total cost = Cost incurred to date + Estimated cost to complete = $3,600,000 + $2,400,000 = $6,000,000

Contract price = $7,500,000

Placing values in the formula

Percentage of completion = $6,000,000 / $7,500,000 = 0..80 = 80%

Use the following formula to calculate the gross profit

Gross profit = Contract price - Total Cost = $7,500,000 - $6,000,000 = $1,500,000

Now calculate the gross profit recognised as follow

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3 years ago

Between 2015 and 2016, the country of North Grogolia experienced a growth rate of -1.4%. If nominal GDP had increased by 3.1% an

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Answer: 3.8%

Explanation:

To calculate this you can use the Economic Growth Formula because price change is one of the components of the equation and as you may know, inflation is the change in Prices from one period to the next.

The Equation is,

Economic Growth = % Δ Nominal GDP – % Δ Prices – % Δ Population.

Making % Δ Prices the subject gives,

% Δ Prices = - Economic growth + % Δ Nominal GDP - % Δ Population

= - (- 1.4%) + 3.1% - 0.7%

= 1.4% + 3.1% - 0.7%

= 3.8%

The inflation rate is therefore 3.8%

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3 years ago

Finding hidden patterns and relationships in customer data is called data

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The answer is A
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GDP has grown in a country at 4% per year for the last 30 years. The labor force has grown at 1% per year and the quantity of ph

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Answer:

Explanation:

physical capital per worker has grown by = physical labor growth rate - labor force growth rate = 5% - 1% = 4%

Physical capital refers to the amount of equipment and physical structures used to produce goods and services. The physical capital per worker is a ratio that divides total physical output by the total labor force. An increase in the physical capital per worker should result in an increase in labor productivity. E.g. A delivery service uses a bicycle and is able to deliver 10 packages every 4 hours, but if they start to use a delivery truck, the delivery service will be able deliver 20 packages every 4 hours.

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3 years ago