Describe the purpose of the AICPA. What is the AICPA’s primary function?

Q: What are the fundamental objectives of all information systems?

A:

Q: Who should sit on the systems steering committee? What are their typical responsibilities?

A: Accounting Information System: AIS collects, records, stores and processes accounting and other data…

Q: Discuss how the elements of efficiency, effectiveness, and flexibility are crucial to the design of…

A: Information system is a system which consists of some interrelated components which stores, edits…

Q: Why is the concept of independence such an internal part of AICPA Code?

A: AICPA is American Institute of Certified Public Accountants, which is the leading organisation and…

Q: Discuss briefly the definitions,objective and scope of all IAS and the IFRS standards

A:

Q: What are the broad classes of facts that need to be gathered in the system survey?

A: Accounting Information System: AIS collects, records, stores and processes accounting and other data…

Q: What are the objectives and scope of all the standards of IFRS and IAS?

A: IFRS or International Financial Reporting Standards are the guidelines of accounting given by the…

Q: What functions does the FASB perform?

A: FASB :                          FASB is defined as "The Financial Accounting Standards Board" is a…

Q: What does the process of providing this information to external users is called? Describe about it…

A: Financial Reporting System:   It refers to monitoring the financial resources of an organization as…

Q: What is the mechanism via which Naics operates?

A: It is about the mechanism via which Naics operates:

Q: List all the IAS and IFRS Standards and state thier objectives

A: The accounting standards of IAS are as follows:

Q: Who should determine and prioritize the critical applications? How is this done? How frequently is…

A:

Q: What are the IFRS and IAS standards trying to accomplish, and how broad is their scope?

A: In the era of globalization, businesses around the world work together. Investors have more…

Q: What are the goals of the SEC?

A: Securities and Exchange Commission (SEC): SEC is a governmental agency that has the legal power, for…

Q: Describe the mission of the FASB.

A: Financial Accounting Standards Board (FASB): FASB is an independent 7 member board, of accounting…

Q: What is the main objective of IASB?

A: IASB: International Accounting Standards Board is abbreviated as IASB.  IASB is the organization…

Q: Explain how copmany approch to planing and its mission can be translated inti action plans

A: Planning: Planning refers to the process which helps in bridging the gap between the point the…

Q: List all the IAS and IFRS Standards, discuss briefly their definitions, thier objective and their…

A: The Accounting standards are the set of principles and procedures to be compulsorily adopted by the…

Q: Explain the purpose of IFRS for SMEs and how it differs from full IFRS.

A: IFRS or International Financial Reporting Standards are the guidelines of accounting given by the…

Q: Discusses the activities and content-oriented issues involved in entering into and contracting for…

A: The activities involved in entering into and contracting for an OD initiative are -

Q: What are the similarities and differences (if any) between the IPSASs and the IASs/IFRSs?

A: The international public sector accounting standard board (IPSASB) seems to be an unbiased…

Q: Where is the IASB located?

A: International Accounting Standards Board (IASB): IASB is the board which frames, develops, approves,…

Q: IPSASB What are the scopes of the IPSASs? What are the similarities and differences (if any) between…

A: The international public sector accounting standard board (IPSASB) seems to be an unbiased…

Q: Describe the ways and the extent to which IFRS are used around the world.

A:

Q: Summarize what are the MACRS guidelines?

A: The MACRS (Modified Accelerated Cost Recovery System) is the current tax depreciation system in the…

Q: The FHA implements its programs with which of the following procedures?

A: FHA has been successful in stabilizing the national housing market. It was created under the federal…

Q: What is full form of PBGC? Describe about it.

A: PBGC means Pension Benefit Guarantee Corporation. This corporation is a federal agency created by…

Q: Discuss the objectives of segmental information and the requirements for the disclosure of segmental…

A: Segmental information: Segmental information is the way of providing the overall information about…

Q: IPSASB

A: What is IPSAB REASON IT WAS ESTABLISHED WHAT OBJECTIVE OF THE IPSASB WHY THE IPSASB DEVELOPED THE…

Q: Describe the mission of the IASB.

A: The International Accounting Standards Board (IASB) is an independent, private-sector body that…

Q: How are management’s actions incorporated in EVA and MVA? How are EVA and MVAinterconnected?

A: Economic added value (EVA) is a measured cash-deductible reduction of capital costs of a firm's…

Q: Describe the primary roles of the PCAOB.

A: PCAOB indicates to a non-profit organization stated in US and set up by Sarbanes-Oxley Act in…

Q: Identify special issues related to LIFO.

A: LIFO (Last in First out): In this method, the units bought last are sold first. In other words, in…

Q: Why the IPSASB developed the IPSASs?

A: SOLUTION- IPSAB = INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS BOARD WORKS TO IMPROVE PUBLIC…

Q: developed the IPSASs? d.What are the scopes of the IP

A: International Public Sector Accounting Standards (IPSAS) are a collection of accounting standards…

Q: What is the purpose of the IPSASB and what are the reasons for its establishment?

A: This question tells about the purpose of the IPSASB and what are the reasons for its establishment .

Q: What are the overall IFRS and IAS standards' aims and scope?

A: This question tells about the overall IFRS and IAS standards' aims and scope:

Q: Discuss both internal and external factors affecting the ITP systems.

A: Internal Factors:1)Internal Social EnvironmentProblems with transfer pricing exist only inside a…

Q: What are the responsibilities of the PCAOB?

A: Introduction : The public company accounting oversight board is known as PCAOB. To monitor the…

Q: Explain the concepts and principles which underlie the SMEs standard

A: The concept and principle of sme standard are as follows

Q: What are the scopes of the IPSASs?

A: INTRODUCTION TO IPSASs :  International Public Sector Accounting Standards Board (IPSASB) has…

Procedural Coding: CPT and HCPCS

Computer hardware and accessories nowadays support various types of coding for a variety of purposes. Procedural coding is a straightforward process that combines several steps of a calculative sequence to achieve the desired result. It is a type of medical classification that aids in the identification of specific surgical, medical, or diagnostic procedures. It begins as soon as a patient enters the premises of a healthcare provider. These coding systems have significantly aided the process of insurance claims and billing.