Questions from Financial Accounting

Q: Explain the audit expectations gap to a new trainee auditor.

Explain the audit expectations gap to a new trainee auditor.

Q: Explain the term ‘corporate governance’.

Explain the term ‘corporate governance’.

Q: Why does corporate governance influence company value?

Why does corporate governance influence company value?

Q: Outline six characteristics of good corporate governance, detailing how each can

Outline six characteristics of good corporate governance, detailing how each can influence company value.

Q: Explain the role of a non-executive director to a company

Explain the role of a non-executive director to a company and outline possible benefits of such an appointment to the company.

Q: Define and distinguish between the following: a. assets and

Define and distinguish between the following: a. assets and liabilities; b. capital and revenue expenditure.

Q: a. State the accounting equation and explain its components.

a. State the accounting equation and explain its components. b. The financial position of a business at any time is represented in the statement of financial position. Why is it that every business en...

Q: Prepare J. Magee’s statement of financial position (vertical format as

Prepare J. Magee’s statement of financial position (vertical format as utilized in the chapter) as at 31 December 20X9 from the following: Note: You have to determine J. Magee&acir...

Q: Explain briefly what is meant by the following terms: profit;

Explain briefly what is meant by the following terms: profit; capital; and capital maintenance.

Q: Explain the relevance of the accounting period concept in accounting.

Explain the relevance of the accounting period concept in accounting.