defination of non financial reporting with source? and define the element should included in non financial reportin

Q: The full disclosure principle dictates that: (a) financial statements should disclose all assets at…

A: Accounting principles are the standards that should be abided by while preparing financial…

Q: Which one of the following statements is not correct regarding financial accounting and management…

A: Financial Accounting - This is a branch of accounting under which business transactions are recorded…

Q: Which statement in relation to an interim report is true? a. An interim report must consist of a…

A: Interim Report:- It is a report which gets a period for the shorter period as compared with a fiscal…

Q: Which of the following should financial information not be? Group of answer choices Unsubstantiated…

A: Lets understand the meaning of the financial information and how it should be. Financial information…

Q: Considering whether to use historical cost or fair value relates to which of the following…

A: The procedures applied and principles followed by the company to prepare its financial statements…

Q: What are the costs and benefits of management’s use of judgement in financial reporting?

A: Management is the internal part of any organization and thus it plays a very crucial role in making…

Q: terms of the function of financial reporting, how do the IASB and FASB conceptual frameworks diffe

A: Financial Accounting Standards Board (FASB) is established with the sole responsibility to formulate…

Q: (a) Explain and give an example of the effect on a set of published financial statements if the…

A: Hello. Since your question has multiple parts, we will solve first question for you. If you want…

Q: Identify which of the following items are not included as part of general-purpose financial…

A:

Q: What are the measurement issues in the standard IFRS16? Which basis of measurement is allowed? Why…

A: (1) In the year 2016, The International Accounting Standards Board (IASB) published a standard on…

Q: An accountant need not assess compliance with independence rules duringa. An examination of…

A:

Q: what are the possible violation of financial reporting protocols ?

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

Q: What is the likely limitation of “general-purpose financial statements”?

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

Q: What are financial statements and explain different types of users of finanacial statement including…

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

Q: How is materiality (or immateriality) related to the proper presentation of financial statements?…

A:

Q: Identify which of the following items are not included as part of general-purpose financial…

A:

Q: A financial statement user can not gain a complete understanding of the financial statements…

A: A Financial Statement is the Statement which company prepares to show their business activities and…

Q: This type of presentation of statement of financial position does not show distinctions between…

A: Statement of financial position is one of the financial statements of a company, prepared at the end…

Q: Choose the answer which is not true about the conceptual framework for financial reporting. a. the…

A: The conceptual framework for financial reporting is a theory that that provides the basic reasonings…

Q: Which of the following is a qualitative characteristic of financial information included in the…

A: Qualitative characteristics are metrics or attributes that are helpful in decision making while…

Q: The main steps required in the preparation of a restated statement of financial position (in…

A: IAS 29 stands for Financial Reporting in Hyperinflationary Economies applies where an entity's…

Q: Which of the following is correct about specific evaluation in forming an opinion on financial…

A: Auditing refers to the process of scrutinizing the financial statement of the business entity and…

Q: Which of the following statements is not correct regarding combined statement of financial position…

A: The balance sheet includes the assets, liabilities, and stockholders' equity that shows the…

Q: The conceptual framework is a statement of accepted theoretical principles, and is the…

A: Conceptual framework is the set of rules, principles  or combination that is useful for fulfilling…

Q: Fair value is a more relevant measure to use in Financial Reporting than Historical Cost. Discuss

A: Introduction: Fair value accounting refers to the practice of valuing your company's liabilities and…

Q: What are financial statements and explain different types of users of finanacial statement including…

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

Q: What are the two measurement bases allowed by the conceptual framework for financial reporting (CF)?

A: The Conceptual Framework is a collection of interconnected goals and fundamentals. The aims and…

Q: The performance of an attestation engagement on prospective financial information does not require…

A: Definition:

Q: What are the arguments favoring the regulation of financial reporting?

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

Q: Does financial reporting play a different function in the IASB and FASB conceptual frameworks? Exp

A: To design the Generally Accepted Accounting Principles (GAAP), the Financial Accounting Standards…

Q: Under Qualitative Characteristics of Useful Financial Information, which of the following is a…

A: Answer:   Option d.

Q: what type of investigation should precede analysis of financial statements

A: Financial Statement Analysis is a process of studying the components of a financial statement to…

Q: Do the IASB and FASB conceptual frameworks differ in terms of the role of financial reporting? Exp

A: Financial Accounting Standards Board (FASB) is established with the sole responsibility to formulate…

Q: Comment on the statement that materiality is in the eye of the beholder. How does this statement…

A: In accounting, materiality relates to the significance of any transaction or accounts. It is one of…

Q: Financial statements should be based on accounting principles alone and not serve the interests of…

A: The accounting is based on various principles known as GAAP.

Q: Which statement is included in the Conceptual Framework? Relevance is a fundamental qualitative…

A: The financial information includes the financial statements of the business.

Q: Identify and discuss   the limitations of financial     statements

A: Limitations of financial statements- The financial statements contain only past data- The financial…

Q: In current practice, accounting provides only quantitative information that is useful in making…

A: Here asked about the True / False which are provided the details of the statement which are related…

Q: n case of erroneous recording or omission of reportable segments , how does it affect the financial…

A: Financial reports are useful when it reflects a true picture of the financial health of the…

Q: Under the Conceptual Framework for Financial Reporting which of the following statements is not a…

A: CONCEPTUAL FRAMEWORK FOR FINANCIAL REPORTING: It is a body of interrelated objectives and…