Based on your understanding,compare and contrast the three major forms of business organization (in financing, investing, and operating department) and relate the scope of the role of a financial manager within these business organization.

Q: Many accounting professionals work in one of the following three areas.A. Financial accounting B.…

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Q: Explain the purpose of financial and management accounting within your chosen organisation. Within…

A: In any organization, Purpose of Management accounting is to provide useful information for internal…

Q: According to the Institute of Chartered Accountants of England, "any form of accounting which…

A: Accounting is a process of recording and summarizing the transaction within the books of accounts.

Q: Justify accounting's usage in tracking and monitoring economic events that impact business…

A: The answer for theory question on accounting's usage in tracking and monitoring economic events that…

Q: Explain the purpose of financial and management accounting within an organisation. provide an…

A: Managerial accounting: Managerial accounting is a system, or a process of gathering and organizing,…

Q: Financial statements are an important element of any organization. Discuss their significance and…

A: Financial statements give a detailed picture of a company's financial situation at a specific period…

Q: Describe how accounting is used to track and monitor an organization's primary business operations.

A: Accounting can be categorized into different types like financial, managerial and cost accounting.…

Q: Which of the following is not a primary function of the management accountant?a. Communicates…

A: Management accounting: Management accounting measures, analyzes and reports both financial and…

Q: Which of the following is NOT one of the definitions of Management Accounting? Select one: a. Any…

A: Management accounting is the accounting that helps the management in planning and taking better…

Q: What processes are used to be able to ensure that all related financial details are allocated for…

A: For being able to make sound business decisions it is very important to ensure that all the related…

Q: Financial Accounting and Reporting, Advanced Financial Accounting and Reporting, Management…

A: The duties of a controller include assisting with the preparation of the operating budget,…

Q: Discuss the two main branches of accounting and explain the differences between financial accounting…

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Q: What are some of the uses that management may make of accounting information about individual…

A: In a company, generally, various divisions have been made according to the type and flow of work.…

Q: Describe financialhip management in terms of the three major decision area that confront the…

A: 3 important decisions are: Financing Decision Investment Decision Dividend Decision

Q: Financial accounting provides information for managers and other internal users.

A: Managerial accounting provides information for managers and other internal users.

Q: You are a Management Accountant who will be required to work with the financial accounting system.…

A: Accounting - Accounting is the art of Recording, classifying and summarizing financial information…

Q: Explain how accounting is used to track and monitor the economic events that impact business…

A: Accounting is defined in simple terms as an art of keeping the record of financial transactions of a…

Q: Explain the purpose of financial and management accounting with some exemples within your chosen…

A: Financial accounting refers to the  assembling of financial information to create financial…

Q: Financial statement analysis applies analytical tools to financial stateme and related data for…

A: Financial statements analysis is used by internal and external stakeholders to evaluate business…

Q: Based on your understanding, compare and contrast the three major forms of business organization…

A: A business organization is defined as an entity that is being incorporated with the aim to carry on…

Q: Which of the following statements correctly distinguishes between management accounting and…

A: Management accounting is used by managers within an organization to make strategic decisions based…

Q: Analyze and explain how accounting is used in business operations to track and monitor economic…

A: Accounting may be described simply as the skill of recording a business's financial transactions.

Q: The result of financial statement analysis may reflect the effectiveness of management in handling…

A: Financial analysis helps in analyzing and interpreting the statement of business it helps in…

Q: the elements of a business plan are: the organization, marketing, and financial plans. List and…

A: The financial plan is a part of the business plan of a firm. A long term financial plan is an…

Q: Assuming that you are one of the people who has the responsibility to manage the financial aspects…

A: Financial managers are the important people of the organization. They deal with financial aspects of…

Q: What are the goals of financial accounting? Enumerate at least three and discuss why they are…

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: Explain the key principles that financial managers use when making business decisions and Describe…

A: A business organization is defined as an entity that is being incorporated with the aim to carry on…

Q: Identify and discuss the two key financial objectives of a business

A: The accounting is the process to identify and record the financial transactions of the business.

Q: Management accounting information: A.helps shareholders make decisions B.is used by lenders to…

A: There are two main forms of accounting being used by the business. One is financial accounting and…

Q: Explain the importance of using financial management for business decisions, and provide examples to…

A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…

Q: Which of the following is TRUE of both financial accounting and management accounting? a. The…

A: Solution Concept Financial accounting               The accounting that is done for the purpose of…

Q: Qualitative characteristics

A: Qualitative characteristics are features of financial information those have to be read along with…

Q: Emphasize the role of the financial manager and his or her responsibilities.

A: The financial manager and his or her responsibilities:

Q: Many accounting professionals work in one of the following three areas. A. Financial accounting B.…

A: B. Managerial accounting - 1. Internal auditing A. Financial accounting - 2. External auditing B.…

Q: What are the three types of financial management decisions? For each type of decision, give an…

A: Capital budgeting decision: Capital budgeting decision is a decision concerned with the selection of…

Q: How do the various functional departments of an organization use financial planning (i.e. marketing,…

A: Financial planning can be defined as the process of evaluation of the current profitability,…

Q: who are users of financial statements that applies to each different type of business analysis?

A: Business analysis is the process of evaluating the risks and prospects of the organization for…

Q: Explain how accounting is used to track and monitor the principal business activities of an…

A: Accounting: Accounting can be defined as the process of identifying, classifying and recording the…

Q: Classify the following as to whether they are normally related or not to accounting and finance…

A: The recording and analysis of company activities are referred to as accounting and finance.…

Q: Discuss the role of the financial manager or the Chief Finance Officer (CFO) in making decisions as…

A: Management means effectively use of given sources to get maximum gain. Financial management means…

Q: Explain how a financial manager may use financial ratios to analyse the financial performance of a…

A: Ratios are instruments that compare two quantitative figures and provide the necessary information…

Q: Discuss how the basic principles of accounting is applied in business organizations. Give examples.

A: The basic principles of accounting that is applied in business organisation are: 1. Business Entity…

Q: Identify three fundamental concepts that affect financial decisions, and identify the primary…

A: Here is the Answer

Q: Describe the three major types of business organizations and how

A: Answer:Three main types of Business organizations are as follows:Sole Proprietorship: This business…

Q: Many accounting professionals work in one of the following three areas.A. Financial accounting B.…

A: Accounting in business can take form of financial accounting, management accounting, cost accounting…