Assignment Question(s): Q1. Structures of insurance companies’ financial statements (income statement, balance sheet, cash flow statements) vary than structures the non- insurance organization due to the unique features of the insurance companies. Give a sample of the structures for any selected Saudi insurance company’ financial statements and explain the rational for classifying […]
State the three issues for users of financial reports.
ASSIGNMENT Q.1 Accounting for Securitization under SFAS No. 140 (2000) is a limited attempt to describe complex transactions that are structured to yield desired economic and accounting outcomes. This accounting raises three issues for users of financial reports. State these three issues.
Take an example of an organization and explain the relationship of these components with reference to Payroll System of that organization
Assignment Question(s): (Marks 15) Question 1: (03 Marks) Under the expenditure cycle ordering materials, supplies and services are the first activity. Explain the following ordering threats with suitable example with each of these. a) Purchasing at inflated prices b) Unreliable Suppliers c) Kickbacks Answer: Question 2:(03 Marks) What are the advantages of the REA data […]
Identify at least three weaknesses in Eid Corporation’s revenue cycle activities. Describe the problem resulting from each weakness.
Assignment Question(s): Question 1: Under the expenditure cycle ordering materials, supplies and services are the first activity. Explain the following ordering threats with suitable example with each of these. a) Purchasing at inflated prices b) Unreliable Suppliers c) Kickbacks Answer: Question 2: What are the advantages of the REA data model over the traditional AIS […]
What process is used to estimate future costs? How are engineered estimates, account analysis, and two-point methods used to estimate cost functions?
The Cost Function Q1: What are the different ways to describe cost behavior? Q2: What process is used to estimate future costs? Q3: How are engineered estimates, account analysis, and two-point methods used to estimate cost functions? Q4: How does a scatter plot assist with categorizing a cost? Q5: How is regression analysis used to […]
What is the process of strategic management and decision making? What types of control systems do managers use?
The Role of Accounting Information Q1 – What is the process of strategic management and decision making? Q2 – What types of control systems do managers use? Q3 – What is the role of accounting information in strategic management? Q4 – What information is relevant for decision making? Q5 – How does business risk affect […]
Explain criteria to accept or reject investment projects based on net present value method.
Accounting Assignment Question(s): Q1. Differentiate between Variable and Absorption costing with a suitable numerical example and explain what would be the changes in Net Operating Income under both the costing methods. Answer Q2. ABC prepares budgets for the quarter ending June 30. Sales in units: April 20,000, May 50,000, June 30,000, July 25,000. Selling price […]
What is the zakat due in case of watering without cost? What is the zakat due in case of watering with cost?
Accounting Assignment Question(s): (15.0 Marks) Each Questions Carries 5 Marks) A Zakat giver has an agricultural production at a market value of SAR 300,000. The zakat giver has no accounting books to count the actual production expenses. Assume the zakat receptacle reached the Nisab. Required: What is the zakat due in case of watering without […]
Describe at least one major historical event in the business world that occurred in the past 20 years and discuss how this affected today’s accounting system of self-regulation.
Self-Regulation Visit the Library (access in the course home area) to research the accounting system of self-regulation. Describe at least one major historical event in the business world that occurred in the past 20 years and discuss how this affected today’s accounting system of self-regulation. Describe the legislation that altered the self-regulation process of the […]
Select a company of your choice. Compare and contrast the impact that ASU 2016-02, Leases will have on the financial ratios of your chosen company.
Week 8 Assignment – Impact of Financial Accounting Standards Board (FASB) Accounting Standards Update ASU 2016-02, Leases Overview Accounting is the language of business, and it is not a dead language! The FASB is responsible for ensuring that all relevant and material financial information is properly codified in the Generally Accepted Accounting Principles (GAAP).The use […]