Acc 1101 Semester 3 2017 Name of Student January 5 2017 Question One Managers are important users of financial accounting information contained in financial statements because they are crucial decision makers in a company (Users of financial statements 2014: Pg 1). Such information may help to show areas that are performing poorly thus helping to change tact in order to achieve improvement. Using accounting information it is possible for the management of an organization to apply management by objective and management by exemption to cater for areas that are experiencing poor performance. While there are many reasons why managers in an organization may use accounting information here are the four top reasons. Part a Conciseness: accounting information presents data in a manner that is concise and easy to understand for managers who may lack the financial accounting skills or time necessary to carry out own analysis. Another reason why the same. Question Six General Ledger cash account opening bal 1352 cash receipts 26847 error 135 dishonored check 2200 cash payments 29164 bal c/d 6004 32851 32851 bal b/d 6004 Cheyenne Pty Ltd bank reconciliation (all amounts in Dollars ) balance at bank -1000 add deposit in transit 325 less outstanding check -1100 add error of original 215 less dishonored check -2200 less error -135 add unpresented checks 2240 -655 -655 balance as per cash book -1655 References Bruce J. 2017. Why Soft Skills Matter And The Top 3 You Need. Pp 1. Retrieved from https://www.forbes.com/sites/janbruce/2017/03/10/why-soft-skills-matter-and-the-top-3-you-need/#4b21f61e76f3 Lepadatu G. 2011. The Importance Of The Cost Information In Making Decisions. Romanian Economic and Business Review 6(1) 52. Socea A.D. 2012. Managerial decision-making and financial accounting information. Procedia-Social and Behavioral Sciences 58 pp.47-55. Users of financial statements 2014. Pp 1. Retrieved from https://www.accountingtools.com/articles/users-of-financial-statements.html Wang J.X. 2010. Lean manufacturing: Business bottom-line based. CRC Press. Pg 60 [...]
This assignment consists of 6 question and answers all relating to accounting practices. Written response and accounting calculations are required. Referencing in some answers is also required. Please use Harvard referencing. Please ensure the following instructions are followed: • Question 1 - Please use x2 relevant references in response 1a. • Question 2 – Please find attached the relevant document for this response. In response 2a, please use x2 relevant references in this answer. For response 2b, please choose whichever skill sets that are easiest for you to write about. • Question 3 - Please clearly show all calculations in responses • Questions 4 - Please clearly show all calculations in responses • Question 5 – These answers need to be formatted the same way that they are in the course textbook. I have attached an example of the formatting as follows: Question 5a Example and Question 5b example. Please also use at least one reference in Question 5c relating to “Matching Concept or GAAP”. • Question 6 – Please outline answers clearly, showing calculations when necessary.