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会计代写|ACCT3011 Financial Accounting

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数学代写|ACCT3011 Financial Accounting

ACCT3011 课程简介

Description
3 hours; 3 credits Detailed consideration of the accounting principles and valuation of current assets, operational assets, intangibles, and cash flows. Concepts of future and present value and analytical review of financial statements. Emphasis placed on pronouncements of the Financial Accounting Standards Board. (Not open to students who have completed Economics 71.03 or 71.3.) Fall and spring terms. Prerequisite: Accounting 2001 or equivalent. Enrollment Requirements: ACCOUNTING 2001 WITH A GRADE OF C OR HIGHER IS REQUIRED TO TAKE THIS COURSE.

Credits
3

Prerequisites 

Prior to Fall 2010, this course was known as ACCNT 3.
The information below might still reflect the old course numbers. Bracketed numbers, if any, are the old course numbers. Learn more…

3 hours; 3 credits

Detailed consideration of the accounting principles and valuation of current assets, operational assets, intangibles, and cash flows. Concepts of future and present value and analytical review of financial statements. Emphasis placed on pronouncements of the Financial Accounting Standards Board. (Not open to students who have completed Economics 71.03 or 71.3.) Fall and spring terms.

Prerequisite: Accounting 2001 or equivalent.

ACCT3011 Financial Accounting HELP(EXAM HELP, ONLINE TUTOR)

问题 1.

Is financial accounting really necessary?

Yes, financial accounting is necessary for several reasons. Financial accounting is the process of recording, summarizing, and reporting the financial transactions of a business to provide accurate and reliable financial information for decision-making purposes.

Here are some reasons why financial accounting is important:

  1. Financial accounting helps to track and monitor the financial performance of a business, enabling business owners and managers to make informed decisions about their operations.
  2. Financial accounting provides a standardized format for reporting financial information that is consistent and comparable across different businesses and industries, allowing investors and other stakeholders to make meaningful comparisons.
  3. Financial accounting helps to ensure compliance with legal and regulatory requirements by providing accurate financial statements and reports that are necessary for tax purposes, financial audits, and other legal requirements.
  4. Financial accounting provides transparency and accountability, helping to build trust and confidence among stakeholders, including investors, creditors, customers, and employees.

Overall, financial accounting is essential for the effective management and success of any business, providing valuable information for decision-making, compliance, and stakeholder communication.

问题 2.

At least eight different groups of users of accounting information can be distinguished:

  • Managers
  • Investors
  • Lenders
  • Employees
  • Suppliers and other creditors
  • Customers
  • Governments and their agencies
  • Public
    Suggest the information that each is likely to need from accounting statements and reports. Are there likely to be difficulties in satisfying the needs of all the groups you have considered with one common set of information?

Solution. The characteristic ODEs are
$$
\frac{d x}{d s}=1, \frac{d y}{d s}=\sin x, \frac{d z}{d s}=y
$$
We first solve the $x$ ODE, substitute the solution into the $y$ ODE, and then substitute the solution into the $z$ ODE. So:
$$
\begin{aligned}
& x(r, s)=s+c_1(r) \
& \frac{d y}{d s}=\sin \left(s+c_1(r)\right) \Rightarrow y(r, s)=-\cos \left(s+c_1(r)\right)+c_2(r) \
& \frac{d z}{d s}=-\cos \left(s+c_1(r)\right)+c_2(r) \Rightarrow z(r, s)=-\sin \left(s+c_1(r)\right)+c_2(r) s+c_3(r) .
\end{aligned}
$$

Here’s a breakdown of the information each group of users is likely to need from accounting statements and reports:

  1. Managers: Managers need financial information to make informed decisions about the operations and future direction of the business. They are likely to be interested in financial statements such as the income statement, balance sheet, and cash flow statement to assess profitability, liquidity, and solvency.
  2. Investors: Investors need financial information to evaluate the potential risks and returns of investing in a business. They are likely to be interested in financial statements such as the income statement, balance sheet, and cash flow statement to assess profitability, liquidity, and solvency, as well as information about the company’s management and strategic direction.
  3. Lenders: Lenders need financial information to assess the creditworthiness of a business and make decisions about lending money. They are likely to be interested in financial statements such as the balance sheet and cash flow statement to assess the company’s ability to repay its debts.
  4. Employees: Employees may be interested in financial information to assess the financial stability of their employer and to understand the company’s compensation policies and performance. They are likely to be interested in financial statements such as the income statement and balance sheet.
  5. Suppliers and other creditors: Suppliers and other creditors need financial information to assess the creditworthiness of a business and make decisions about extending credit. They are likely to be interested in financial statements such as the balance sheet and cash flow statement to assess the company’s ability to repay its debts.
  6. Customers: Customers may be interested in financial information to assess the financial stability of a business and to understand the company’s pricing policies and performance. They are likely to be interested in financial statements such as the income statement and balance sheet.
  7. Governments and their agencies: Governments and their agencies may require financial information for tax purposes, regulation, and policy-making. They are likely to be interested in financial statements such as the income statement, balance sheet, and cash flow statement.
  8. Public: The general public may be interested in financial information to assess the financial stability and performance of a business, and to make decisions about investing, purchasing, or working with the company. They are likely to be interested in financial statements such as the income statement and balance sheet, as well as information about the company’s social and environmental impact.

There are likely to be difficulties in satisfying the needs of all these groups with one common set of information. For example, managers may want detailed information about internal operations that investors or customers may not need, while governments may require additional information for regulatory purposes that is not relevant to other users. However, accounting standards and regulations aim to provide a standardized set of information that can satisfy the needs of multiple user groups to some extent.

数学代写|ACCT3011 Financial Accounting

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