Digital Dashboards and Impression Management in Accounting
Added on 2020-02-23
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Running head: BUSINESS AND ACCOUNTING FINANCEBusiness and accounting financeName of the studentName of the universityAuthor note
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1BUSINESS AND ACCOUNTING FINANCE Table of ContentsQuestion 1..................................................................................................................................21.1 Accumulated depreciation is the sum of cash that is accumulated for replacing the fixedasset........................................................................................................................................21.2 To capitalize the amount means the amount will not charged as expense.......................21.3 Inventory methods............................................................................................................2Question 2..................................................................................................................................4A.Balance sheet and income statement...............................................................................4B.With changed data...........................................................................................................8Question 3..................................................................................................................................9Requirement 1........................................................................................................................9Requirement 2......................................................................................................................10Requirement 3......................................................................................................................10Question 4................................................................................................................................111.Major financial reports and their purposes....................................................................112.Importance of profits and cash flow..............................................................................113.Ethical issues of ABC case study..................................................................................12Question 5................................................................................................................................12Comparisons made with the ratios.......................................................................................12Question 6................................................................................................................................13A.Financial ratios..............................................................................................................13
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2BUSINESS AND ACCOUNTING FINANCE B.Chart for rate of return on sales.....................................................................................13C.Report on calculation and chart.....................................................................................15Question 7................................................................................................................................15Business report for decision making aspect.........................................................................15Reference..................................................................................................................................18
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3BUSINESS AND ACCOUNTING FINANCE Question 11.1 Accumulated depreciation is the sum of cash that is accumulated for replacing thefixed assetThe accumulated depreciation is the asset’s total depreciation that is collected for theuseful life of the asset. Further, there is no doubt that the accumulated depreciation is thecollection of cash for replacing the assets. Any entity accumulates cash that is known asdepreciation to avoid the burden for large amount of cash that is required to replace the oldfixed asset or any machine.1.2 To capitalize the amount means the amount will not charged as expenseGenerally, capitalization is not treated as expenses as adding the fixed asset orproperty is not the expenses for any organization. Purchase of new asset or collecting moneyin the form of depreciation is regarded as the investment for future period and therefore,cannot be termed as expense.1.3 Inventory methodsFirst-in-First-out or FIFO – under this, good purchased first are considered first forsellingFirst-in-first-out or (LIFO) – under this, good purchased last are considered first forsellingWeighted average – under this, the weighted average cost for all the gods purchasedare considered for selling the goods.Specific identification – It attaches actual cost to the identifiable product unit (Zhanget al., 2014).
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