An objective of financial reporting is

Q: advantages of financial accounting

A: Answer are as follows

Q: Describe the reasons why financial accounting is useful?

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

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: What is definition of financial services

A: Services refer to all those facilities that are provided by one company to another or to any single…

Q: Define financial statements.

A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…

Q: Explain the economic environment of financial accounting.

A: The economic environment of financial accounting.

Q: what are the Measurement bases – elements of financial statements ?

A: Financial statements are the records maintained by the company to record the business transactions…

Q: Financial reporting information may be described in terms of its qualitative features.

A: This question explains about financial reporting information

Q: most general and most important objective of financial reporting

A: Option B is wrong because ensuring that the management objectives are met is not an objective of…

Q: What are objectives of financial management

A: Financial management is referred to as the strategic planning, organizing, directing, and also…

Q: What are the quality information with regards to financial reporting?

A: Financial reporting is to communicate the financial position and its soundness to the shareholders,…

Q: Describe the purpose of financial statements.

A: Definition:   Financial statements: Financial statements are condensed summary of transactions…

Q: Differentiate Financial Reporting and Management Reporting. How are they related?

A: Financial report shows the financial results of the company which has already achieved. Management…

Q: What is the objective of general purpose financial reporting?

A: Financial statement: Financial statements are condensed summary of transactions communicated in the…

Q: IASB standards and the Conceptual Framework for Financial Reporting

A: IASB standards and Conceptual Framework for Financial Reporting provide guidance to do accounting in…

Q: Explain an example of objective of financial reporting.

A: Hi since examples cannot be used to explain the objectives of financial reporting. It is assumed…

Q: What are the objectives, principles and assumptions of the Conceptual Framework for Financial…

A: Answer: Concept: Conceptual framework describes the objective and concept for general purpose…

Q: Explain the objectives of financial reporting.

A: Financial reporting: Financial reporting is the procedure used to communicate the information…

Q: Explain what makes information in financial statements relevant to use

A: Solution- I think Cash flow statement is the most important for investor to look at although he gets…

Q: Describe Common methods for analyzing financial statements.

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: WHAT IS THE PURPOSE OF FINANCIAL STATEMENT?

A: Financial statement - are prepared by the management  of a company to convey the performance of the…

Q: The fundamental & enhancing qualitative characteristics of financial information?

A: Characteristics of Financial Information: It refers to those characteristics which financial…

Q: Define the term a statement of financial position?

A: International Financial Reporting Standards:   IFRS (International Financial Reporting Standards) is…

Q: fundament

A: Answer The fundamental accounting equation, conjointly known as the record equation, represents the…

Q: What is the purpose of a financial management system?

A: Financial Management system A Financial management framework is the procedure and programming that…

Q: Explain how the conceptual definition of assets and liabilities and recognition criteria improve…

A: Assets are the resources that are controlled by the entity and from which economic benefits flows to…

Q: Discuss the importance and the use of financial statements.

A: Importance of Financial Statements: Importance to Management: For their intentions, the management…

Q: Explain the difference between financial reporting and financial statements.

A: Financial information refers to the information/data related to the business that is related to the…

Q: Explain what are the elements of financial statements?

A: The elements of financial statements are as follows: Assets Liabilities, Equity, Revenues and…

Q: Discuss the scope and application for smes standard in financial reporting

A: Introduction: Financial reporting is a standard accounting method that utilizes financial statements…

Q: Explain why a regulatory framework is necessary in financial accounting.

A: The term regulatory framework in accounting refers to the set of rules and regulations that are…

Q: Explain the scope and enbironment of financial management

A: Finance is an indispensable part of any organization. Without finance it is difficult for every…

Q: What is the importance of Statement of Financial Position?

A: A statement of financial position also known as a balance sheet, is a part of the financial…

Q: A conceptual framework for financial reporting is: A. A set of regulations which govern financial…

A: Introduction: Financial reports: At every financial year ending Income statement , Statement of cash…

Q: Define Financial instrument.

A:

Q: What is the objective of a financial analysis?

A: Financial analysis is the process of evaluating businesses, projects to determine whether the entity…

Q: Describe the kinds of activities that financial management involves.

A: Financial Management is all about the management of the financial aspects of a business. Management…

Q: Describe the elements of financial statements.

A: Financial Statements are statements prepared at the end of accounting period to analyse financial…