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explain the term- not-for-profit organisationsthere are many organisations that dont exist mainly for the pursuit of profit instance
state the relationship between return and riskthis relationship between return and risk has significant implications for setting financial objectives
concept of accounting for wealth creation it is significant to recognise that generating wealth for the owners isnt the same as seeking to maximise
how to determine the market economywithin a market economy there are strong competitive forces at work which ensure that failure to enhance owners
what is the financial objective of a businessa business is created to enhance wealth of its owners this may come as a surprise as there are other
define the term- how are businesses organisednearly all businesses which involve more than a few owners andor employees are set up as limited
process to increase the financial health of companyfinancial affairs of a limited company enter public domain with exception of small companies there
what are the advantage of limited liabilityadvantage of limited liability though imposes certain obligations on such companies to start up a limited
define the term limited company- business ownership limited companies can range in size from quite small to very large number of individuals who
explain in detail about the sole proprietorshipsole proprietorship as the name suggests is where an individual is the sole owner of a business this
what kinds of business ownership existparticular form of business ownership has significant implications for accounting purposes and so its useful to
how to determine the financial reports of businessesin response to criticisms that financial reports of some businesses arent clear enough to users
state the users of accounting informationenvironment has brought new challenges for managers and other users of accounting information their
illustrate the changing face of accountingover past 25 years environment within which businesses operate has become increasingly turbulent and
determine the accounting aspects of business accounting scandals can have a profound effect on all those connected with business enron scandal for
determine the range and quality of informationfinancial accounting reports concentrate on information which can be quantified in monetary terms
explain the term reporting interval - management accountingfor most businesses financial accounting reports are produced on an annual basis though
state the term - regulationsfinancial accounting reports for numerous businesses are subject to accounting regulations which try to make sure they
level of detailfinancial accounting reports provide users with a comprehensive overview of performance and position of business for a period
state the nature of the reports produced - financial accountingfinancial accounting reports tend to be general-purpose which is they contain
determine the features of accounting information system accounting information system must have certain features which are common to all valid
state the accounting as an information systemwe know that accounting can be seen as provision of a service to clients another way of viewing
four major qualitative characteristics of accounting informationthere are four major qualitative characteristics which influence usefulness of
value of accounting informationwhen assessing value of accounting information we are confronted with similar problems provision of accounting
identify the various prices for jobto identify the various prices for job there are numerous points to be considered includinghow many garages shall