Q1.Assume that you have attended an interview for the post of Accountant in Sohar Aluminum Company...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Q1.Assume that you have attended an interview for the post of Accountant in Sohar Aluminum Company S.A.O.C. The first round of the interview is written test and the following questions has been asked in the test. Being an interviewee how will you answer the question? What did you understand about conceptual frame work for Accounting? What is the purpose of conceptual frame work? Write overview and History of conceptual framework for Accounting. (7 marks) Q2. Download the statement of position and statement of financial performance of any company and identify the values of flowing elements from the downloaded statement for the years 2018 and 2019. (Note: You have to send the downloaded statement of financial position and statement of financial performance of the company to my mail id imtiyaz@ibrict.edu.com). Elements to identify from the downloaded statement of financial position are ; a) Cash and cash equivalent b) Accounts receivables c) Accounts payables d) Equity e) f) Net profit. Sales revenue and (0.5x6 =3) Kindly ensure that your answer should be in the following given format. Elements 2018 (OMR) 2019 (OMR) Compare the net profit of the company with the years 2018 and 2019 and explain the effect of increase or decrease the in the sales revenue and expenditure on the net profit of the company. Q1.Assume that you have attended an interview for the post of Accountant in Sohar Aluminum Company S.A.O.C. The first round of the interview is written test and the following questions has been asked in the test. Being an interviewee how will you answer the question? What did you understand about conceptual frame work for Accounting? What is the purpose of conceptual frame work? Write overview and History of conceptual framework for Accounting. (7 marks) Q2. Download the statement of position and statement of financial performance of any company and identify the values of flowing elements from the downloaded statement for the years 2018 and 2019. (Note: You have to send the downloaded statement of financial position and statement of financial performance of the company to my mail id imtiyaz@ibrict.edu.com). Elements to identify from the downloaded statement of financial position are ; a) Cash and cash equivalent b) Accounts receivables c) Accounts payables d) Equity e) f) Net profit. Sales revenue and (0.5x6 =3) Kindly ensure that your answer should be in the following given format. Elements 2018 (OMR) 2019 (OMR) Compare the net profit of the company with the years 2018 and 2019 and explain the effect of increase or decrease the in the sales revenue and expenditure on the net profit of the company.
Expert Answer:
Answer rating: 100% (QA)
Q1 Conceptual Framework for Accounting As an interviewee I would define the conceptual framework for accounting as a set of interrelated concepts and objectives that guide the development of accountin... View the full answer
Related Book For
Vector Mechanics for Engineers Statics and Dynamics
ISBN: 978-0073398242
11th edition
Authors: Ferdinand Beer, E. Russell Johnston Jr., David Mazurek, Phillip Cornwell, Brian Self
Posted Date:
Students also viewed these accounting questions
-
In addition to triphenylphosphine, assume that you have available as starting materials any necessary aldehydes, ketones, and organic halides. Show how you might synthesize each of the following...
-
Assume that you have been hired by Big Sky Corporation as a summer intern. The company is in the process of preparing its annual financial statements. To help in the process, you are asked to prepare...
-
Assume that you have a mixed configuration comprising disks organized as RAID Level 1 and as RAID Level 5 disks. Assume that the system has flexibility in deciding which disk organization to use for...
-
1.1. Define a want and a need, and give an example of each. Then, explain how the relationship between wants and needs affects the way people spend money. (4 points) 2.. Identify and describe an...
-
Norton Corporation is considering new equipment. The equipment can be purchased from an overseas supplier for $ 4,600. The freight and installation costs for the equipment are $ 590. If purchased,...
-
What are the main differences among the following refracting telescopes: an astronomical telescope, a Galilean telescope, and a terrestrial telescope?
-
What is meant by user-oriented systems design?
-
Identify several industries that have highly variable demand patterns. Explore how they adjust capacity.
-
Information concerning a product produced by Ender Company appears here: Sales price per unit Variable cost per unit Total annual fixed manufacturing and operating costs. Required Determine the...
-
On January 1, 2019, Concord Corp. signs a contract to lease nonspecialized manufacturing equipment from Stone Inc. Concord agrees to make lease payments of $47,500 per year. Additional information...
-
After reading the guidance from GrantMe page on Time Management, tell us one strategy that you found interesting, and you want/will try this semester. Explain how you will try and how you will know...
-
A doctor earns \($250,000\) per year, while a professor earns \($40,000\). They play tennis against each other each Saturday morning, each giving up a morning of relaxing, reading the paper, and...
-
Having applied Bayesian decision theory to this example, what do you consider are its advantages and disadvantages?
-
Suggest and justify the kind of commission structure that you would put in place.
-
Advise senior management on the appropriateness of adopting a relational approach to selling.
-
Discuss the relevance of Reichheld et al. s model of the virtuous circle to selling and sales management.
-
2 The twenty-year treasuries generally offer a return of 8.55%. What is the rate of return for a twenty-year treasury, after considering inflation - which has averaged 8.55%?
-
The tractor is used to lift the 150-kg load B with the 24-mlong rope, boom, and pulley system. If the tractor travels to the right at a constant speed of 4 m/s, determine the tension in the rope when...
-
A hawser is wrapped two full turns around a bollard. By exerting an 80-lb force on the free end of the hawser, a dockworker can resist a force of 5000 lb on the other end of the hawser. Determine (a)...
-
The system shown is at rest when a constant 30 lb force is applied to collar B. (a) If the force acts through the entire motion, determine the speed of collar B as it strikes the support at C. (b)...
-
For the frame and loading shown, determine the components of all forces acting on member ABC. 1s kN 2m 2m 3.6 m
-
Which of the following is not true about a profit-maximizing monopolist? a. The monopolist faces the downward-sloping market demand curve. b. The monopolist always earns an economic profit. c. The...
-
If a profit-maximizing monopolist is currently charging a price on the inelastic portion of its demand curve, it should a. raise price and decrease output. b. lower price and increase output. c....
-
If a monopolist had a zero marginal cost of production, it would maximize profits by choosing to produce a quantity where a. demand was inelastic. b. demand was unit elastic. c. demand was elastic....
Study smarter with the SolutionInn App