How important are the disclosures to the financial statements? What kinds of information do we find within them?
Who are stakeholders? Define who they are and then please share what particular interest each of these stakeholders have in the information shared on the income statement, retained earnings statement, balance sheet and statement of cash flows. How do we analyze if a company is healthy or not?
Accounting Question
Assignment Question(s):(Marks 10)
IMPORTANT NOTE: Answer in your own words, DO NOT COPY from slides, fellow student, or internet source without proper citation.
Assignment Question(s):
Q1. What are the advantage and disadvantage of using Enterprise resource planning (ERP) system? (2 marks)
(2 Mark)
Q2. Some individuals argue that accountants should focus on producing financial statements and leave the design and production of managerial reports to information systems specialists.What are the advantages and disadvantages of following this advice?To what extent should accountants be involved in producing reports that include more than just financial measures of performance?Why?
(2 Mark)
Q3. Do you agree that the most effective way to obtain adequate system security is to rely on the integrity of company employees? Why or why not? Does this seem ironic? What should a company do to ensure the integrity of its employees?
(2 Mark)
Q4. What motives do people have for hacking?Why has hacking become so popular in recent years?Do you regard it as a crime?Explain your position.
(2 Mark)
Q5. What is the difference between data and information, and discuss the characteristics of useful information? (2 marks)
Accounting Question
Accounting Assignment Help Assignment Question(s):[5 marks]
Question 1: The correct and complete sequence of steps in conducting research is as follows:
Identify broad area,
Select topic,
Decide approach,
Formulate plan,
Collect information,
Analyze data,
Present findings.
Using our Saudi Digital library (SDL) you should find two papers and determine for each paper the steps described above.[5 marks]
Partnership Taxation
1- Ben has taxable income before the QBI deduction of $204,925. Ben is signal
Ben owns a 30% interest in an LLC that reports as a partnership that produced an ordinary income of one million
Ben share is $300,000.
Ben’s tentative QBI deduction is $60,000 (20% × $300,000).
consider limitations.
Ben’s total taxable income from all sources exceeds the $164,925 (for 2021)
safe harbor threshold for single taxpayers so the limitations may apply.
The partnership paid total W-2 wages of $600,000 and the total unadjusted basis of property held by the corporation is $100,000. Sarah is allocated 30% of these items. How much is Ben’s QBI deduction?
2- Fardeen contributed land worth $720, subject to nonrecourse debt of $300, to FS, LLC, that is taxed as a partnership for a 75 percent interest (in profits and losses); Serena, cash of $210 for 25%.
Fardeen’s basis in the land was $270.
How much is each partner’s share of liabilities? Answer in column B (preferably with your formula in the cell) and for maximum credit explain, if appropriate, in column C.
How much is each partner’s basis in the partnership?
Assuming that a building worth $100 with a basis of $50 was included in the land, and the current year tax depreciation is $5 and book depreciation is $8, how much depreciation is allocated to each partner?
Question 3 (3 points)
given the facts at hand, the S corporation and regular corporation produced in more after-tax cash flow when compared to unincorporated businesses
(sole proprietorships and partnerships) and regular corporations (assuming all after-tax profits of the business are distributed to the owners). Explain.
Question 4 (2 points)
How are recourse liabilitie allocated amongst the partners in a partnership. Briefly explain..
What is the effect of an increase in a partner’s recourse liabilities?