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
Click on the BACKPACK tab and add any options that you believe will align with the needs of the LUXURY TRENDFOLLOWER segment. Yo
Nadya [2.5K]

Now click on the BACKPACK tab. As you select each layout issue, you'll upload the DESIRABILITY of your backpack and its manufacturing cost. the first is to have a function DESIRABILITY of a minimum of ninety%.thât as you make alternatives, your backpack STATS and Production cost will trade.

Production cost discusses all the direct and oblique charges groups face from the production of a product or presenting a service. production expenses can include a ramification of prices, such as hard work, uncooked substances, consumable production components, and fashionable overhead.

The price of production is the full fee incurred by using a business to either produce a product or offer their services. manufacturing fees typically include materials and uncooked substances which can be consumed during manufacturing, at the side of labor costs.production value components = Direct exertions + Direct fabric + Overhead charges on manufacturing.

Learn more about Production costs here:

brainly.com/question/25109150

#SPJ1

3 0
1 year ago
Jeremy owns his own business and has excellent management skills. he is very detail-oriented, organized, knows how to follow a s
JulsSmile [24]
Jeremy may want to sit down with his marketing team or hirer a team devoted to promotions and advertisement. You can only be successful if people know you exist and when they don't, making sales is almost obsolete. To keep your business running, making sure the marketing team is doing their job to keep consumers coming back and your product/service relevant is a must. 
7 0
3 years ago
Read 2 more answers
When conducting a SWOT analysis, information about turnover, profit margins, and staff quality can be used to identify:
Alex17521 [72]

When conducting a SWOT analysis, information about turnover, profit margins, and staff quality can be used to identify company strengths and weaknesses. By conducting a SWOT analysis, a company is able to find out valuable information about how their company is conducting business, future plans, and how they compare to others within the same market. Identifying your strengths and weaknesses is important in achieving success. When you know your strengths, it allows you to set your company apart from others and when you know your weaknesses, you can work on improving them.

4 0
3 years ago
Career fulfillment means:
castortr0y [4]
Answer is a hope this helps cause its like common sense
6 0
3 years ago
Read 2 more answers
In which condition is it an advantage when group incentives encourage competition between groups of employees?
padilas [110]

It is an advantage when group incentives encourage competition between groups of employees when groups try to outdo one another in satisfying customers.

Competition is uncertainty about how to ensure survival. Competition can occur between entities such as organisms, individuals, and economic and social groups. Rivalry is about achieving unique goals such as visibility, leadership, market share, niche, scarce resources, or territory.

Competition, most commonly viewed as the interaction of individuals competing for a finite common resource, is the direct or indirect interaction of organisms that results in changes in fitness when they share the same resource. can be defined more broadly as a dynamic interaction.

There are four kinds of competition in a loose marketplace machine: perfect opposition, monopolistic competition, oligopoly, and monopoly.

The four key characteristics of perfect competition are: (1) a huge wide variety of small companies, (2) equal merchandise offered by all firms, (three) perfect resource mobility or the liberty of entry into and go out out of the enterprise, and (4) perfect information of costs and generation.

Learn more about competition here :- brainly.com/question/25717627

#SPJ4

5 0
1 year ago
Read 2 more answers
Other questions:
  • Which word best describes the effects of income taxes as your income increases?
    12·1 answer
  • Zanda Corp. wants to have a process structure that has cost advantages similar to continuous or repetitive processes, but wants
    7·1 answer
  • Bad girls not allowed<br><br>need a good friend<br><br>373 629 9840<br><br>444000​
    7·2 answers
  • Assume $1 is currently equal to A$1.1024 in the spot market. Also assume the expected inflation rate in Australia is 2.8 percent
    11·1 answer
  • Is it possible for a country to have a comparative advantage in producing a good without also having an absolute​ advantage? A c
    15·1 answer
  • Complete the statement with the correct word.
    7·1 answer
  • Which of the following situations would most likely encourage a firm's managers to make decisions that are in the best interests
    12·1 answer
  • 2000 is deposited into a newly opened fund on January 1, 1999. Another deposit is made into the fund on July, 1 1999. On January
    13·1 answer
  • The _____ adds up the market prices of final goods and services.
    5·1 answer
  • Advanced Products Corporation has supplied the following data from its activity-based costing system:
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!