AC 250 Saint Peters College Financial Accounting & Reporting Discussion – Assignment Help

Save Time On Research and Writing
Hire a Pro to Write You a 100% Plagiarism-Free Paper

I need an explanation for this Accounting question to help me study.

  1. Current assets less current liabilities equals working capital ? Why is this measurement so important for management to control?
  1. Do you agree with the following statement, why or why not: Management’s decisions have little influence on the financial statements.
  1. Do you agree with the following statements, why or why not: users realize that preparing financial statements is an imperfect process.
  1. The matching concept identifies revenues or expenses in the time period in which they occur. Does this make sense? Explain your reasoning.
  1. What is the Principle of conservatism and why is it important for accountants in preparing financial statements?

6. Do you agree with the following statement, why or why not: A sale on account only impacts the income statement and no other statement.

7. Do you agree with the following statement, why or why not: A higher asset turnover ratio implies reduced efficiency.

8. Do you agree with the following statement: When prices are rising, accounting for inventory using the LIFO cost flow method will lead to higher net income but lower ending inventory. Explain.

9. Do you agree with the following statement, why or why not: Equipment in good working order may be retired due to obsolescence.

10. Do you agree with the following statement, why or why not: under the much more common indirect method, net cash flow from operating activities is computed indirectly by beginning with net income, which appears on the income statement and adjusting it for accruals and cash flows.

11. Name and explain 4 ways that management decisions can affect the financial statements? (Ex. the cookie jar)

12. We know that cash inflows and outflows associated with the acquisition and sales of assets are included in the investing section of the cash flow statement. How are changes in the balance sheet values of assets reflected on the income statement?

13. Why are shareholders, investors, creditors, auditors, and managers interested in the nature and condition of a company’s producing assets?

14. A low “Producing asset turnover ratio” indicates what?

15. Explain the difference between a “betterment” and “maintenance” and explain the accounting for each.

Assignment Pro (28431)
New York University
Is this question part of your assignment?

Sign up to get the full answer

Get Answer

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)
Have an assignment question? Get help from Expert tutors!
Your time is important. Let us write you an essay from scratch
100% plagiarism free
Sources and citations are provided
Stuck? We have tutors online 24/7 who can help
you get an A grade paper.
Ask Expert Tutors
Answer in as fast as 15 minites

Are you looking for Assignment Help save 20% with this code BIXBY