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Accounting Skills Assignment (Doc)

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Swiss Business School

   

Added on  2020-04-21

Accounting Skills Assignment (Doc)

   

Swiss Business School

   Added on 2020-04-21

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Running Head: Accounting skills1Project Report: Accounting skills
Accounting Skills Assignment (Doc)_1
Accounting skills2ContentsQue 1.................................................................................................................................3Accounting....................................................................................................................3Advantages and disadvantages of accounting..............................................................3Que 2.................................................................................................................................3a) Profit and loss a/c.....................................................................................................3b) Calculation of owner's capital..................................................................................4Balance sheet................................................................................................................4Que 3.................................................................................................................................5a) Calculation of break even analysis...........................................................................5B) Calculation of sales unit on the basis of desired profit............................................5C) Calculation of sales unit...........................................................................................6d) Calculation of break even analysis...........................................................................7Que 4.................................................................................................................................7Cash budget..................................................................................................................7Que 5.................................................................................................................................9Managerial decision making.........................................................................................9References.......................................................................................................................10
Accounting Skills Assignment (Doc)_2
Accounting skills3Que 1)Accounting:Accounting is a methodical process of identifying the financial information than recording it into the books of the company further measuring the financial information and classifying it into the various categories, more, verifying it, summarizing it, interpreting the information and communicating the financial information with the user of the reports. These reports reveal the performance, position and profitability state of the company. Further, it explains about the financial strength and various other positions of the company (Hák et al, 2012). This accounting process helps the company to manage the financial and accounting data of the company so that the performance and the position of the company could be evaluated and controls could be implemented over the financial stability of the company.Advantages and disadvantages of accounting:Further, the advantages and disadvantages of the accounting have been analyzed. The main advantages of the accounting are its quick decision process. This process reveals the financial information to the business. It helps the investors to make a better decision about theinvestment into the business (Lee, 2006).Additionally, the disadvantages of this accounting system are its high cost which is especially for the long business. There are also timing issues in the accounting system as the different accounting methods take the concern of the various timing. It is also riskier for the business to choose the best accounting methods. Que 2) a) Profit and loss a/cIn the books of Yankee Hotel foxtrot IncomeService revenue1439014390ExpensesRent2740
Accounting Skills Assignment (Doc)_3

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