1.Explain how XBRL differs from HTML and how XBRL is being used in financial reporting. 2.Do you believe that the use of XBRL improves transparency in financial reporting? Why or why not?

Q: What are the different types of accounting software? Explain.

A: Bookkeeping programming is employed information regarding utility product is basic to the suitable…

Q: Describe the reasons why financial accounting is useful?

A: Financial accounting is a specific branch of accounting involving a process of recording,…

Q: Evaluate the strengths and weaknesses of interpretive accounting theory

A: Interpretive Accounting theory:-Interpretive Accounting theory has evolved and made significant…

Q: Explain why the accounting standards are necessary in financial reporting.

A: Accounting Standards are the rules and guidelines that are used for preparation of financial…

Q: 2) How do disclosure and analysis help users of financial statements assess performance?

A: Financial analysis and reporting can help you answer lots of new important questions about your…

Q: Discuss the relationship of accounting information with the Efficient Market Hypothesis (EMH)

A: Accounting information is a wider term, it includes all financial information of the firm. It is…

Q: 2. Explain the following concept used in the preparation of financial statement i. Relevance ii.…

A: (i) Relevance Information should be relevant to the decision making needs of the user. Information…

Q: The following are characteristics of financial accounting, except A. It is used by both internal…

A: Financial Accounting: It is a technique of recording, summarizing, and reporting the transactions…

Q: Can the 2 forms of independence can stand alone when it comes to objectivity for financial statement…

A: Introduction: Financial statements that summarize a company's operations and financial performance.…

Q: Classify each of the scenarios as an example of interacting directly with a financial market or…

A: Financial markets: It generally sits down with any platform where equity dealing exists including,…

Q: What are the major areas of accounting that are impacted by information technology? Explain.

A: 1. Cyber Security: As so much as attainable, provide Associate in Nursing example for every of your…

Q: What is information asemmytry? Why is it considered a problem to the financial system?

A: Information asymmetry is simply the imbalance of information between the trade participants i.e. one…

Q: Should financial statement disclosures be greater? What are the pros and cons for the increased…

A: Financial Statement: Financial statements are formal records of the monetary activities and position…

Q: ng information?

A: Concept: Information contains in the financial statements is said as free from bias. It reflects a…

Q: Explain why 'financial statements don't work for digital companies' such as Facebook. Do these…

A: Financial statements are statements that are prepared at the end of the period in order to analyse…

Q: True or false: Studying the relationship of financial information with another information, whether…

A: The question is related to Auditing and is of Analytical procedure. It is the evaluation of…

Q: What is blockchain technology? How might blockchain technology help to change accounting reporting,…

A: Financial reporting means to furnish the financial records or statements prepared by the…

Q: Accounting includes activities such as identifying, measuring, and communicating financial…

A: Being the language of business, accounting acts as the bridge between the business and the users of…

Q: How does accounting software and financial analysis software make the financial executive more…

A: Accounting software and financial analysis software are used by professionals to record, summarize…

Q: What are the 2 specific advantages of Accounting Information Systems (AIS) to ease accountants in…

A: Accounting information system is the system which collects, stores, records, summarise and report…

Q: Technology is increasingly used to process accounting data. Why then must we study and understand…

A: There are various types of tools that has been developed to collect, analyze, and compile financial…

Q: What is a conceptual framework, and how does one create one? In financial accounting, why is a…

A: Conceptual Framework: A conceptual framework logically explains related goals and foundations;.bu1Z…

Q: Discuss the terms relevance and faithful representation as they relate to financial accounting…

A: Financial accounting: It can be defined as the branch of accounting that is associated with the…

Q: why ethics is important in reporting financial statement?

A: Ethics are the moral principles which a controller should follow while reporting financial…

Q: Which of the following options best describes TVU's accounting information system (AIS)? Select one:

A: The answer for the multiple choice question and relevant explanation are presented hereunder :…

Q: Which of the following is not one of the basic concepts of accounting? A) RESPONSIBILITY B)…

A: Accounting:- It can be defined by recording the transactions in a systematic order and should be…

Q: Explain how XBRL differs from HTML and how XBRL is being used in financial reporting. Do you believe…

A: Definition: XBRL means xtensible business reporting language is a software standard developed to…

Q: are we also a user of finanacial accounting?

A: Financial Accounting is the process of recording, classifying, summarising all the Financial…

Q: Bank and investors are primary users of the management accounting Select one: O True Falsel

A: Primary  users of management  accounting  are internal users called as  Managers,   employees

Q: s that influence the adoption of computarised ac

A: Using computerized accounting systems, you may set up revenue and expenditure accounts for things…

Q: Why accounting is an infromation system? Explain with your own point of view with example.

A: Accounting Information Systems helps to perform the tasks in the job of Budget Analysis. An…

Q: Make logical comparison between financial accounting with other fields of accounting ?

A: Accounting It is a process under which financial transactions are recorded ,stored, retrieving ,…

Q: Although HTML and XML documents look very similar, and both use tags, explain how they differ…

A: HTML and XML both use tags but the uses of tags are different and hence they differ in reporting…

Q: dentifying the different types of technologies used by MNCs in Financial Reporting.

A: INTRODUCTION: Financial Reporting is noting but the financial statement of a company or an…

Q: objective of financial reporting

A: Financial reporting is the process of making record of collected financial information and…

Q: What are the areas of accounting that are impacted by information technology? Explain

A: Computerized accounting includes using the computers and accounting software for recording, storing…

Q: Cite one reason why there is a continued evolution of information system and how does this affect…

A: An information system is a set of techniques, hardware, trained people, software, applications,…

Q: In addition to financial statements, what are some other ways to disclose financial information to…

A: Financial Statements represent a formal record of the financial activities of an entity. These are…