Discuss the below:
Question 1
The Financial Accounting Standards Board hopes to make the U.S. accounting practices
Question 2
As a _____ you work within an organization, preparing reports and analyzing financial information such as budgets and cost management.
Question 3
_____ accountants provide services such as tax preparation, external auditing, or management consulting to clients on a fee basis.
Question 4
_____ is/are the claims owners have against their firm's assets.
Question 5
Investors are provided with _____ from the firms whose stock they own. These documents provide additional information about the firm's practices and operations.
Question 6
What is the accounting equation?
Question 7
_____ provide reports, information, and analysis to managers to assist them with making better informed decisions.
Question 8
The major output of financial accounting is a set of statements including the
Question 9
The _____ budget brings together all of the firm's budgeting documents to provide a unified plan for the a specific budget period.
Question 10
Bookkeepers encompass the routine procedures involved in reporting information about the financial transactions that affect an organization, while _____ go further by analyzing and interpreting this information and communicating the results to stakeholders.
Question 11
_____ consist(s) of the stocks of goods, materials, parts, and work-in-process that firms hold as part of doing business.
Question 12
Financial planning asks all of the following questions EXCEPT:
Question 13
Capital _____ is the process a firm uses to evaluate long-term investment proposals.
Question 14
_____ are short-term IOUs issued by the U.S. government that mature in 4, 13, or 26 weeks.
Question 15
Financial managers measure the benefits and costs of long-term investment proposals in terms of
Question 16
A _____ is used to predict when a firm will likely experience temporary shortages or surpluses of cash.
Question 17
Equity financing is provided by ____ while debt financing is provided by ____.
Question 18
_____ are companies that provide short-term financing to firms by purchasing accounts receivable at a discount.
Question 19
_____ are short-term, very safe, and highly liquid assets that firms include in the cash holdings they report on their balance sheet.
Question 20
_____ is the functional area of business that is responsible for finding, among many alternatives, the best sources of funds and the best way to use them.