1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
dolphi86 [110]
3 years ago
7

What you have found in your review regarding accounting issues; What you believe the appropriate accounting treatment should be

on items you are questioning; Any positive or negative informational items you can find regarding the charity by researching it online; and In the case of suspicious activity, there are likely AI technology options that could help with narrowing down the issues, so be sure to make at least one AI application recommendation in your letter.
Business
1 answer:
Helen [10]3 years ago
7 0

Answer: Financial Accounting issues

Explanation: There are several issues that can lead to financial accounting problems. These include the elements of financial performance that a company tracks, the basis on which it records transactions, and the way it handles depreciation. In contrast, mathematical errors are unlikely to cause major problems thanks to the built-in checkpoints of double entry accounting.

One of the more simple sources of financial accounting problems is a failure to cover all three of the main types of financial documents. The first is a simple record of transactions, which is aggregated into a profit and loss account. The second is a record of cashflow, which does not always match up with transactions because of credit agreements and delayed payments; cashflow forecasts are also important. The third is a balance sheet, which lists the overall assets and liabilities of a company, effectively measuring its financial health. Not having all three of these documents in place can reduce the opportunities to identify problems with a company's finances and potential solutions.

Some financial accounting problems can be caused by inconsistencies in the basis on which the accounts are prepared. One such area is the decision whether to record transactions at the time of payment, or the time when goods or services are physically delivered. Not using the same basis for all transactions can cause confusion. This is particularly true where the payment takes place in one accounting period and the delivery in another.

There are several issues that can lead to financial accounting problems. These include the elements of financial performance that a company tracks, the basis on which it records transactions, and the way it handles depreciation. In contrast, mathematical errors are unlikely to cause major problems thanks to the built-in checkpoints of double entry accounting.

One of the more simple sources of financial accounting problems is a failure to cover all three of the main types of financial documents. The first is a simple record of transactions, which is aggregated into a profit and loss account. The second is a record of cashflow, which does not always match up with transactions because of credit agreements and delayed payments; cashflow forecasts are also important. The third is a balance sheet, which lists the overall assets and liabilities of a company, effectively measuring its financial health. Not having all three of these documents in place can reduce the opportunities to identify problems with a company's finances and potential solutions.

Some financial accounting problems can be caused by inconsistencies in the basis on which the accounts are prepared. One such area is the decision whether to record transactions at the time of payment, or the time when goods or services are physically delivered. Not using the same basis for all transactions can cause confusion. This is particularly true where the payment takes place in one accounting period and the delivery in another.Government authorities, Bankers, Debt Providers, Promoters, regulators and other stakeholders.

Making strategic plan and budget.

Payment of Central, State and local taxes.

The technology has made real time processing of accounting information possible and make them available to various stakeholders whenever and wherever it is required. In olden day’s abacus were used for the purpose of computing. Later calculators and other computing devices came into picture. Towards the end of twentieth century the accounting profession began to take a whole new look. Various soft wares changed the way of accounting for each and every industry. Microsoft office program like Microsoft Excel had eliminated the use of calculators, paper and pen. Here a spreadsheet is available for data recording, forecasting, consolidation, budgeting and analytics and the same can be done with accuracy and efficiency. Various database can be maintained with the help of Microsoft Access. Also for the purpose of presentation we use Microsoft PowerPoint.

When we talk about advancement in field of accounting because of technology, it is important to discuss about networking. Typically in a networked environment, various computers, printers and others devices are connected via common server. One can access data even while sitting across thousand miles apart. Within same premises, networking can be done via cable and across various geographies it can be done via wireless media.

Enterprises Resource Planning and Accounting

Nowadays various Enterprises Resource Planning (ERP) packages are available that integrates various functions of an enterprise like –

Manufacturing

Supply chain management

Inventory management

Financial Accounting

You might be interested in
Is income debit or credit
Vanyuwa [196]

Answer:

income is credit thats the amswer

5 0
3 years ago
Read 2 more answers
The increased use of the Internet presents a lot of potential for which types of businesses?
Sergeeva-Olga [200]

Answer:

Local businesses, SME's and International businesses

Explanation:

The era of the internet has provided the work to integrate and create more opportunities for the business to grow and improve. More importantly, the internet has created a pathway for small businesses, local businesses, and small businesses to grow and expand globally. The internet has also helped businesses to set up their operations globally and locally to attract more markets and consumers.

8 0
3 years ago
wendy is a college student in her sophomore year. She is single with no kids, and has her education paid for by schlorship
Natalija [7]
Wendy is a great student. She is an assiduous one. How I wish every student is like her. Being independent and able to sustain her needs without any help from others.
4 0
3 years ago
Correct answers will get extra!!! Points
lutik1710 [3]
1. True
2. False
3. True

Sorry if I get the wrong answers!!!
8 0
3 years ago
Countess Corp. is expected to pay an annual dividend of $4.57 on its common stock in one year. The current stock price is $73.59
Serjik [45]

Answer:

The cost of equity is 9.91%

Explanation:

The constant growth model of the DDM is used to calculate the price of the share or the fair value per share based on a constant growth in dividends and the required rate of return which is also known as cost of equity.

Plugging in the available values in the formual we can calculate the cost of equity or the required rate of return.

73.59 = 4.57 / (r - 0.037)

73.59 * (r - 0.037) = 4.57

73.59r - 2.72283 = 4.57

73.59r = 4.57 + 2.72283

r = 7.29283 / 73.59

r = 0.0991 or 9.91%

3 0
3 years ago
Read 2 more answers
Other questions:
  • NEED HELP ASAP
    14·1 answer
  • Overcharging Medicare for care and services provided to patients is an example of Behavior
    8·1 answer
  • Tom works as an agent for a large insurance company. at his work station, he has taped pictures of his wife and granddaughter an
    8·1 answer
  • Which of these have played the greatest role in the spread of information in the 21st century?
    5·2 answers
  • Turnbull Department Store had net credit sales of $18,000,000 and cost of goods sold of $15,000,000 for the year. The average in
    14·2 answers
  • What is partnership.<br>List the advantages and disadvantages of partnership.​
    9·2 answers
  • Spafford Services, Inc. provides services to clients. On May 1, a client prepaid Spafford Services $71,000 for 6-months services
    12·1 answer
  • 01
    13·1 answer
  • To make sure it has enough employees on hand during the busy holiday season, Target plans to hire thousands of temporary, season
    12·1 answer
  • Rush company had net income of $192 million and average total assets of $1,950 million. its return on assets (roa) is?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!