Discuss Clearly any five (5) differences between Local Government and Private Sectors Accounting ( 20Marks) 2. A company
Posted: Wed Mar 09, 2022 8:14 am
Discuss Clearly any five (5) differences between Local
Government and Private Sectors Accounting ( 20Marks)
2. A company situated in Omuthiya Local Authority N$ 400 000.00 of
Current Assets, N$ 410 000.00 current liabilities and inventories
amounting to N$ 200 000.00 in the financial year ended 31 December
2020.
Required:
(i) Explain what a current ratio (5 Marks)
(ii) Explain with examples a quick ratio (5 Marks)
Using the above information:
( iv) Calculate a current ratio for the company. (5 Marks)
(v) Calculate a quick ratio or acid test for the same company. (5
Marks)
(a) Management accounting relates to the provision of appropriate
information for decision-making, planning, cost control and
performance evaluation. Discuss any 10 Objectives of Management
Accounting. Give one example to the objectives discussed.
Government and Private Sectors Accounting ( 20Marks)
2. A company situated in Omuthiya Local Authority N$ 400 000.00 of
Current Assets, N$ 410 000.00 current liabilities and inventories
amounting to N$ 200 000.00 in the financial year ended 31 December
2020.
Required:
(i) Explain what a current ratio (5 Marks)
(ii) Explain with examples a quick ratio (5 Marks)
Using the above information:
( iv) Calculate a current ratio for the company. (5 Marks)
(v) Calculate a quick ratio or acid test for the same company. (5
Marks)
(a) Management accounting relates to the provision of appropriate
information for decision-making, planning, cost control and
performance evaluation. Discuss any 10 Objectives of Management
Accounting. Give one example to the objectives discussed.