____refers to displaying information for the user's view.

Explain why a finance manager need to understand accounting information even if the firm has a trained accountant on its staff.

nekit [7.7K]

Answer:

Following are the solution to the given question:

Explanation:

A financial manager should understand adequate information on accountancy. This is irrespective of whether the business does have a trained counterpart.

Accountancy is a necessary input into the function of financial management. Throughout the extent, as accounts were important input in financial decision-making is closely connected with both the interaction between finance and financial.

Accrual analysis provides information mostly on the company's operations. The result of the accountancy is accounts like the income statement, the income statement, and the position financial adjustments report. The information in such statements helps money advisors assess a company's previous growth and career projections.

The purpose of accountancy in the choice process is to gather and provide financial data on the institution's past, present, and future activities.

During the economic transaction, the finance department uses these data. This is not possible for money advisors to collect data or to make choices from accounts. And an investor's primary focus is to collect data and display it, whereas budgeting, control, and judgment are the main job of a financial manager. In a sense, financial management starts at the end of accountancy.

7 0

3 years ago

Mike Greenberg opened Cheyenne Window Washing Inc. on July 1, 2022. During July, the following transactions were completed.

Pavel [41]

Answer:

Cash (Dr.) $9.800

Common Stock (Cr.) $9,800

Truck (Dr.) $6,560

Cash (Cr.) $1,640

Accounts Payable -Truck (Cr.) $4,920

Cleaning Supplies (Dr.) $740

Accounts Payable (Cr.) $740

Prepaid Insurance (Dr.) $1,440

Cash (Cr.) $1,440

Accounts Receivable (Dr.) $3,030

Service Revenue (Dr.) $3,030

Accounts Payable - Truck (Dr.) $820

Accounts Payable - Supplies (Dr.) $410

Cash (Cr.) $1,230

Cash (Dr.) $1,310

Accounts Receivable (Cr.) $1,310

Maintenance Expense Truck (Dr.) $240

Cash (Cr.) $240

Dividend paid (Dr.) $490

Cash (Cr.) $490

Explanation:

1) Accounts Receivable (Dr.) $1,750

Service Revenue (Cr.) $1,750

2) Depreciation expense (Dr.) $202

Accumulated Depreciation (Cr.) $202

3) Insurance Expense (Dr.) $120

Prepaid Insurance (Cr.) $120

4) Ending Inventory (Dr.) $320

Cleaning Supplies (Cr.) $320

5) Salaries Expense (Dr.) $415

Salaries Payable (Cr.) $415

4 0

3 years ago

How is goodwill calculated? A. The amount paid to purchase a business in excess of the market value of its net assets. B. An est

kondaur [170]

Answer:

Goodwill is calculated as A. The amount paid to purchase a business in excess of the market value of its net assets.

Explanation:

Goodwill is the quantification of the value of the name or reputation of a business. It is an intangible asset for the business that arises and is recorded as part of a business's value when it is sold. Goodwill is the additional amount paid by the buyer in excess of the amount that a business's tangible net assets are worth. Thus, goodwill can be calculated as the amount paid in to purchase a business in excess of the market value of its net assets.

For example, If a business is purchased for $100 whose net assets, which are Total assets less total liabilities, are worth $80. Then the goodwill is the $20 that is the difference of the amount paid to purchase the business and the value of its net assets.

8 0

3 years ago

1. To gain profit and earn a living.

liraira [26]

Answer:

what is your question though? I don't understand

8 0

3 years ago

Read 2 more answers

Why is it in our self-interest to economize or pick and choose goods and services that maximize our satisfaction? Because of our

Novosadov [1.4K]

Answer:

The correct answer is the first option: Because of our limited incomes conflicting with our insatiable wants for goods and services.

Explanation:

To begin with, in the microeconomics theory, the individuals agents that are the consumers are all the time trying to satisfy their needs due to the fact that there is an unlimited desire for goods and services that keep continue to grow all the time and that conflicts with the fact that most of the people have only few and limited resources to get the necessary income to obtain all of those goods and services. That is why that the consumers always look for the way to maximize their satisfaction according to the available income that they have with the purpose to spend it on those goods and services.

3 0

3 years ago