The reason(s) that accountants use sales returns and allowances account to keep a complete record of sales returns and allowances to calculate operating efficiency.
An accountant is a practitioner of accounting or accountancy. Accountants who have verified competency through their expert associations' certification exam ·rely on ·ing ə-: the device of recording and summarizing commercial enterprise and monetary transactions and reading, verifying, and reporting the effects. also: the principles and tactics of this gadget. they studied accounting as a freshman. : work executed in accounting or by using accountants.
An Accountant facilitates agencies making critical monetary decisions by collecting, tracking, and correcting the corporation's budget. they may be accountable for economic audits, reconciling financial institution statements, and making sure financial information is correct for the duration of the yr.
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Answer: The correct answer is "universal".
Explanation: In a <u>universal</u> banking system, commercial banks engage in securities underwriting, but separate subsidiaries conduct the different activities. Also, banking and insurance are not typically undertaken together in this system.
It is the most common type of banking system and is the most commonly used.
<u>Available Options Are:</u>
A. Create an owner-based sharing rule to grant access to account records that have the same segment to all sales manager roles.
B. Change the role hierarchy and put all of the sales managers in the US and Canada in the same role.
C. Create criteria-based sharing rules to grant access to account records that have the same segment to all sales manager roles.
D. Create a public group and include all accounts of the same segment and grant access through a permission set.
Answer:
Option A. Create an owner-based sharing rule to grant access to account records that have the same segment to all sales manager roles
Explanation:
This owner based sharing will allow the sales manager to access information but he will not be able to alter information which gives a right to access information only. This sharing of information will resolve the sales manager concern and will also him and other sales manager to use this information to make informed decisions. Hence Option A is correct.
Putting in the same role would manipulate the data because the data entered by each sales manager will not be distinguished easily and thus the system will not produce meaningful results. Hence Option B is also incorrect.
Option C is also incorrect because allowing access on meeting certain criteria would result in restriction of data. Thus it is not the solution.
Option D allowing access to all the data would not be necessary as some of the data might require protection and also that it might be meaningless to have private accounts. Thus the option D is incorrect.
In measuring an impairment loss for a financial asset under U.S. GAAP and under IFRS, the carrying value of the financial asset would be compared to:
under U.S. GAAP Fair value and under IFRS recoverable amount.
Explanation:
In US GAAP, the cost of financial asset depreciation is calculated as the difference between carried value and fair value; in compliance with IFRS, a loss of financial asset impairment is defined as the difference between carrying value and the percentage of the asset that can be recouped.
In compliance with US-based ASC 360-10-35-20. The recovery of a historically identified impairment loss (or "restoration") is forbidden because an item is deemed to have a new cost base after an impairment loss has been registered.
