Accounting For Decision Makers of Management and Finance (Essay Sample)
1.Teams of four perform monopoly games and record profit and loss for a total of five years (to record).
Accounting For Decision Makers of Management and Finance
University of Sussex
This letter provides insights on the treatment of expenses, revenue, assets, liabilities and equity in the financial statements. When there is a purchase of an asset this result in reduction in the cash or bank balances. Financial accounts are prepared to be used by various users including external entities, and multiple users rely on the financial accounting information to make decisions, highlighting the need to prioritize the accuracy of the financial statements. To better understand the financial accounting process, individual transactions are connected to the statement of profit or loss and the statement of financial position. In each of the five year the aggregate amounts are taken into consideration using the financial data and information for each of the twelve months in a year. This is relevant in highlighting how the different transactions affect the financial accounting cycle, and I will focus on financial ratios affecting the balance sheet and profit and loss statements. The company...
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