WGU Global Business Chp 15 Latest Exam Questions With Guaranteed Pass Solutions.
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Wgu cpa
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Wgu Cpa
GAAP provides the GUIDELINES by which financial statements are prepared, to provide consistency, reliability, understandability and ease of use within the industry - Answer What is the function of generally accepted accounting principles?
To formulate and publish standards to be observed in t...
WGU Global Business Chp 15 Latest
Exam Questions With Guaranteed Pass
Solutions.
GAAP provides the GUIDELINES by which financial statements are prepared, to provide consistency,
reliability, understandability and ease of use within the industry - Answer What is the function of
generally accepted accounting principles?
To formulate and publish standards to be observed in the presentation of audited financial statements
and to promote their worldwide acceptance and observance - that is, to achieve internationally
recognized or harmonized standards of accounting and reporting - Answer What is the goal of the
International Accounting Standards Board?
By looking at financial ratios; a financial ratio shows the relationship of one number on a financial
statement to another number. They enable meaningful comparisons among companies of different sizes,
to asses which co's are performing better and which are performing worse
examples of two popular ratios are:
- Debt ratio
- Current ratio
Financial analysts, investors, lenders and other parties analyze the financiall statements to determine
how well the company is performing and how well it is likely to do in the future - Answer What are the
ways the financial statements can be used to evaluate companies financial situation in relation to relative
to other companies?
- corporate income tax gets most attention
- 'tax havens' are countries w/ little or no corporate income tax
- the amount of the OTHER taxes (sales, property, payroll, goods & svcs/GST, value-added/VST) may be
HIGHER than in countries where there ARE corporate income taxes
- as a result, it may be a wash
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