describe the steps in the fi nancial statement analysis framework.

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

A: Generally Accepted Accounting Principles, are commonly known as GAAP

Q: The components of the conceptual framework ?

A:

Q: What are the steps to achieve conformance to specification?

A: Conformation to specification:   This refers to the regulatory requirements of an organization. The…

Q: Describe direct and indirect mehods of reporting.

A: Statement of cash flows: Statement of cash flow is a financial statement that shows the cash and…

Q: Describe the assumptions underlying CVP analysis?

A: Cost-Volume-Profit Analysis (CVP Analysis): CVP Analysis is a tool of cost accounting that measures…

Q: Explain the politics in standard setting.

A: Financial accounting standards board (FASB): This is the organization which creates, develops, and…

Q: Define tangible.

A: Tangible means anything that can be touched and  seen.

Q: Answer of the following question related to these characteristics and constraints. In general,…

A: Relevant information is data that can be applied to solve a problem. The relevance concept can mean…

Q: What are GAAP principles

A: The management of the company is the main responsible for preparing the financial statements which…

Q: Define the term CQS Plan?

A: Introduction: Usually, stock exchanges such as the New York Stock Exchange operate as a forum where…

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: What assumptions are inherent in the EOQ model as presentedhere?

A: Economic order quantity (EOQ): Economic ordering quantity (EOQ) is the perfect order quantity a…

Q: Define attainable set

A: Attainable SetA set of all the portfolios that are possible to be formed by the group of the number…

Q: Describe the basic assumptions of underlie GAAP.

A: Generally Accepted Accounting Principles (GAAP): It refers to accounting principles, standards and…

Q: Define the term realization principle.

A: Accounting: Accounting refers to the information system, where the economic activities of a…

Q: Define and explain the significance of the term CMA.

A: Certified Management Accountant (CMA): CMA stands for certified management accountant. CMA…

Q: Explain the differences between IFRS and GAAP

A: GAAP is a common set of accepted accounting principles, standards, and procedures that companies and…

Q: Describe the steps required to apply the APV approach.

A: Adjusted present value is used for estimating the value of projects and the worth of the firms. It…

Q: what is the purpose of the conceptual framework?

A: The conceptual framework is comprised of six Financial Accounting Concepts statements that serve as…

Q: describe a spectrum for assessing fi nancial reporting quality;

A: A quality spectrum provides a basis for evaluating quality reports and ranges from reports that are…

Q: Explain the status and purpose of the Conceptual Framework.

A: Solution The purpose of conceptual framework for financial reporting is to assist the IASB in the…

Q: Explain FLSA and its purpose.

A: FLSA stands for fair Labor Standards Act. It is an act that aims at protecting the interest of…

Q: Summarize what are the MACRS guidelines?

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

Q: Mention and describe some FASB concepts, principles, standards, and rules and how they differ from…

A: Given: The concept of FASB and their differences.

Q: ptual Framewor

A: A conceptual framework is a written or visual representation of how variables should interact.…

Q: What is the objective of having a conceptual framework?

A: Conceptual framework means set of rules and guidelines that help the users and preparers in…

Q: Discus the elements of GAAS, how does it relate to GAAP?

A: GAAS(Generally Accepted Auditing Standards) :- provides standards by which the prepared financial…

Q: What are some pros and cons of the CERES CSR reporting framework i.e. the measure tools, reporting…

A: CERES CSR defines the corporate social responsibility of companies and their resultant action…

Q: What are the functions of the conceptual framework under IFRS?

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

Q: What is full form of CIP? Explain about it.

A: Carriage and Insurance Paid to is the full form of CIP

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: Pls explain in detail

A: A pharmaceutical company is a company which produces or manufactures medicines which are in form of…

Q: Describe EOQ decision model.

A: Economic order quantity (EOOJ: Economic order quantity is ideal order quantity that the company…

Q: Steps involved in classification of ABC analysis.

A: ABC analysis is the technique of inventory management. Under this analysis, inventory items are…

Q: Recommend wl decisions.

A: Profitability index is a calculation that divides the current value of expected anticipated cash…

Q: Define the term analysis period?

A: The analysis begins with the initial venture expenses and extends through the useful life of the…

Q: What is the purpose of the FASB’s conceptual framework?

A:

Q: How is the process of the NPW measure implemented with the decision rule?

A: As an organization expands, it needs to take important decisions that involve immense capital…

Q: Explain the measurement attributes employed in GAAP.

A: The measurement attributes employed in GAAP are as follows: Historical Cost Net Realisable Value…

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

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