All categories

3 years ago

The area of accounting that serves the decision-making needs of internal users is referred to as (managerial/financial/research)

Business

1 answer:

zepelin [54]3 years ago

5 0

Answer: Managerial Accounting

Explanation:

Managerial accounting refers to the preparation of reports and analysis from the company's accounting information to enable managers decide the ways to go with a company.

This type of accounting is for internal use and so is not subject to the kind of scrutiny that financial accounting gets from accounting bodies such as IASB and the FASB.

An example would be the Supply Manager may ask for a report to be made showing them the increase in supply costs for the past decade from their preferred supplier to enable them make a decision on if to find a new supplier.

You might be interested in

6. Why do American business owners try to avoid accepting Canadian coins?

fenix001 [56]

Answer:

because America coins and Canada coins is same

Explanation:

pls mark this

3 0

3 years ago

On July 1, Hartford Construction purchases a bulldozer for $228,000. The equipment has a 9-year life with a residual value of $1

UkoKoshka [18]

Answer:

a. Depreciation expense per hour:

= (Cost - salvage value) / Expected operating hours

= (228,000 - 16,000) / 26,500

= $8 per hour

b. First year depreciation: Second year depreciation:

= 1,250 * 8 = 2,755 * 8

= $10,000 = $22,040

Third year depreciation:

= 1,225 * 8

= $9,800

Journal entries

Date Account Title Debit Credit

June 30, Year 1 Depreciation $10,000

Accumulated Depreciation $10,000

Date Account Title Debit Credit

June 30, Year 2 Depreciation $22,040

Accumulated Depreciation $22,040

Date Account Title Debit Credit

June 30, Year 3 Depreciation $9,800

Accumulated Depreciation $9,800

4 0

3 years ago

Although she hates the work, Jessica has spent most weekends and the last three summers as a short-order cook; she has an associ

Ostrovityanka [42]

I think it would be a restaraunt

4 0

3 years ago

Read 2 more answers

Apr. 2 Purchased merchandise from Lyon Company under the following terms: $4,600 price, invoice dated April 2, credit terms of 2

ehidna [41]

Answer:

April 2

Inventory 4,600 debit

Account Payable 4,600 credit

April 3

freight-in 300 debit

cash 300 credit

April 4

account payable 600debit

Inventory 600credit

April 17

Account Payable 4,000debit (4,600 - 600)

Discount 80debit (4000 * 2%)

Cash 3,820credit

April 18

Inventory 8,500 debit

Account Payable 8,500 credit

April 21

Account Payable 1,100debit

Allowance Inventory 1,100

April 28

Account Payable 7400debit (8,500 - 1,100)

Discount 148debit (7400 * 2%)

Cash 7252credit

5 0

3 years ago

Assuming periodic inventory procedure, what effect would an understatement of ending inventory have on the different items on th

Serjik [45]

Answer:

The understatement of the ending inventory balance would result in an overstatement of the cost of goods sold. This will in turn result in an understatement of the gross and net profits for the year in the p/l.

Explanation:

The relationship between the elements of inventory in a financial statement is as shown below,

Opening balance + purchases - cost of goods sold = closing balance

As such, the understatement of the ending inventory balance would result in an overstatement of the cost of goods sold. This will in turn result in an understatement of the gross and net profits for the year in the p/l.

5 0

3 years ago