logo

Accounting Solution Assignment

   

Added on  2021-02-21

9 Pages2487 Words73 Views
 | 
 | 
 | 
Accounting
Accounting Solution Assignment_1

Table of ContentsINTRODUCTION................................................................................................................................3Task 1 The law of demand impacts the sale of a product of an organisation in a perfectcompetitive market..........................................................................................................................3Task 2 Analysing the importance of Board of Directors as per the UK code of Governance.........4Task 3 Difference between internal and external auditing and importance of independent auditor5CONCLUSION....................................................................................................................................6REFERENCES.....................................................................................................................................7
Accounting Solution Assignment_2

INTRODUCTIONAccounting is related to analysing, recording, summarizing and reporting all the financial ormonetary transactions in the financial statements. It is about journal entries and posting those intoledgers then preparing trial balance and lastly preparation Trading & Profit and Loss account andBalance Sheet. The report covers all the aspects such the law of demand, importance of the Boardof Directors in the UK company and different types auditors in the company and importance ofindependent auditor. It also covers that how company is affected by the law of demand in thecompetitive market. The main role of the Board of Directors in the corporate Governance and howimportant auditors are there in the evaluation and examination of the financial statements.TASK 1 The law of demand impacts the sale of a product of an organisation in a perfect competitive marketLaw of demand is inversely proportional between the price and quantity of the product. Asthe price of the product increases, the demand of that particular product decreases and vice- versa.At this point of time, it is assumed that other all factors remains constant. For example, if theconsumer uses 1 litre of petrol daily for $70 however now the price has been increased to $75 so hemay consume only 0.75 litre of petrol. This is the general behaviour of any human towards theincrease or decrease of the price level in the competitive market (Matsuyama and et.al., 2019).There are some possible exceptions to the law of demand such as Giffen Goods and Veblen goodswhose price does not affect the demand of the goods. Other Factors that affects the demand of a product in an organisation-Income Levels of the consumers-Individuals income level affects the demand of the product. There is a direct relationshipbetween the income of the consumer and demand of the product. As the income increases of anindividual its demand for the particular product also increases and as the income decreases itsdemand for the particular product also decreases. For example, any individual having the income of$50000 and he consumes “Toned Milk” is an inferior good but now its income increases by $70000then he started to consume “Full cream milk”.Consumer tastes and preferences-
Accounting Solution Assignment_3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Economics for Managers | Assignment
|13
|4001
|86

Economic Concepts and Model: Analysis of Trampoline Prices in UK
|14
|620
|140

Business Economics Assignment Solution (Doc)
|12
|2884
|459

Distinguishing Between Fiscal and Monetary Policy Doc
|9
|1753
|20

Demand and Supply Assignment (PDF)
|21
|1157
|473

Surname 8. Name. Professor. Institution. Course. Date.
|10
|1971
|6