Basis of accounting refers to the body of accounting principles that determines when the effect of a financial transaction or event should be recognized for financial reporting purposes. It is a set of rules that determine when revenues and expenditures are recognized in the books of accounts. Unlike Private Business Accounting, many different basis of accounting is accepted in Public Sector Accounting. However, in recent times, there have been strong advocate by the body of Accountants and some NGOs that Ghana should adopt Accrual Basis of Accounting in the Public Sector as in the Private sector to increase the level of accountability in the Public Sector. Required: Justify with five (5) reasons why in your opinion, the Accrual Basis of Accounting should be adopted by Ghanaian State entities in preparing their Financial Reports and give five (5) possible challenges they are likely to encounter by adopting the Accrual Basis of Accounting.

Jurvin enterprises is a manufacturing company that had no beginning inventories. a subset of the transactions that it recorded during a recent month is shown below. $76,700 in raw materials were purchased for cash. $71,400 in raw materials were used in production. of this amount, $66,300 was for direct materials and the remainder was for indirect materials. total labor wages of $151,700 were incurred and paid. of this amount, $134,300 was for direct labor and the remainder was for indirect labor. additional manufacturing overhead costs of $126,300 were incurred and paid. manufacturing overhead of $126,800 was applied to production using the company's predetermined overhead rate. all of the jobs in process at the end of the month were completed. all of the completed jobs were shipped to customers. any underapplied or overapplied overhead for the period was closed to cost of goods sold.required: 1. post the above transactions to t-accounts.2. determine the cost of goods sold for the period.

Which one of the following statements is true? ddt does not prevent disease from passing from agricultural animals to humans. cost was a major factor in the united states government's decision to ban ddt. many african governments concluded that the potential long-term health effects of ddt were not as serious as the immediate problem of insect control. ddt cannot accumulate in the fat of animals. the ddt ban in the united states has made it very difficult to control agricultural insect pests.

Alinguist had a gross income of 53,350 last year. if 17.9% of his income got witheld for federal income tax, how much of the linguist's pay got witheld for federal income tax last year?