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Financial Accounting Reporting Analysis and Decision Making 5th Edition Carlon Solutions Manual
Financial Accounting Reporting Analysis and Decision Making 5th Edition Carlon Solutions Manual
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n-making-5th-edition-carlon-solutions-manual/
Solutions Manual
to accompany
Financial
Accounting:
Recording, Analysis
and Decision Making
Fifth Edition
Prepared by
Shirley Carlon
Brief
Learning Objectives Exercises Exercises Problems
1. Explain the business context and the 1
need for decision making.
ANSWERS TO QUESTIONS
1. The first step in the process of decision making is to identify the issue or the decision
to be made. The next step is to gather the relevant information required for the
analysis. Once gathered, you then identify the tool or technique that can provide the
analysis of the issue so a decision may be made. The final step is to evaluate the
results of the analysis and make the decision. The primary function of accounting is
to relevant information to aid in making a business decision.
2. When running a business most of your actions require decisions. Beginning with
deciding which is the most suitable business structure and where are you going to
locate your business and are you going to have an online presence as well, how are
you going to fund your activities (borrow or have equity investors), how many
employees do you need and what level of inventory is required to name a few
decisions. When starting a new business deciding on the suitable accounting system
and information system is important. Are you intending to have eftpos? Are you
going to have online sales? Etc.
4. External users are those outside the business who have an interest in knowing about
the activities of the entity as resource providers, recipients of goods or services or
parties performing a review of oversight function. Examples include investors,
creditors such as banks and suppliers, taxing authorities, regulatory agencies, trade
unions and customers.
CHAPTER XXI.
Hereditary pirates—A Bornean pirate fleet—Rajah Brooke and the
pirates—A tough job against the prahus—No quarter with the
Dayaks—A freebooter captain—Dayak arms—Bornean fighting
tactics—Advance of Sir J. Brooke’s troops—A debate about
fighting—Poisoned arrows—Weapons of the Amazonian Indians
—The blow-gun—A Bornean war dance—War trophies—Heads,
scalps, and brains—Horrible festivity—The Savages of North
America.