Who is the Father of Accounting? a. James Madison b. Roman Emperor Augustus c. Bob Houghton d. Luca Pacioli
Name the Accounting Concepts and define them. Relevance and reliability are two characteristics of useful accounting information. 1. Briefly define each term. 2. Why are these characteristics important to users of financial statements?
Financial accounting information is often used as an input for management decisions. Describe two advantages and two disadvantages of using financial accounting information in decision-making.
What is the accounting cycle? How has technology changed the accounting cycle, closing process, etc.?
What is IFRS? What does it do and how does it affect business?
