Discuss regulatory disclosure requirements

Q: Describe rules-based accounting standards.

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

Q: Briefly discuss the difference between (A) a “rules-based" approach to accounting standard setting…

A: Rules-based accounting: Rules-based accounting is based on a set of detailed rules that the…

Q: Reporting Standards (PFRS) purpose financial statements, elements, recognition an presentation and…

A: PFRS: Philippine financial reporting statement These are the set of accounting rules as per GAAP…

Q: Discuss the General overview of IFMIS

A: The IFMIS usually sets up a centralized system to support various management processes.

Q: Describe characteristics of special-purpose entities and identify the required financial statements…

A: A special-purpose entity is also referred to as a special-purpose vehicle, which is defined as a…

Q: Compare and contrast the different types of accounting regulation that exist.

A: Accounting Regulation: Accounting regulations are being developed to allow investors , managers and…

Q: Explain The role of the IIRC & The integrated reporting under the CPA.

A: integrated reporting is considered to be an important tool in the understanding the relationship…

Q: Required: Prepare the entries to be made by the agency.

A: As per IFRS 9 "Financial Instruments", an organization shall measure a financial asset or financial…

Q: Describe the elements of the financial statements, making reference to the appropriate IFRS/IAS.

A: IAS 1- Presentation of Financial statements sets out the oversll requirements of financial…

Q: Define Disclosure notes.

A: Disclosure notes in accounting refers to the footnotes which are included in financial statements.

Q: Identify the reports that accompany the financial statements of public entities and nonpublic…

A:

Q: Explain in detail Full disclosure principle with example.

A: The full disclosure concept or norm is an idea that allows a company to disclose all basic facts…

Q: Review the full disclosure principle and describe how it is implemented

A: While preparing the financial statements of company, some genera rules & guidelines have to be…

Q: How are FASB preliminary views and FASB exposure drafts related to FASB “statements”?

A: Financial accounting standards board (FASB): The FASB is an independent, designated, and non-profit…

Q: Define bylaws

A: An organization's Bylaws are the core values the association works under.

Q: Define Full-disclosure principle.

A: Accounting:   It refers to the process of recording the transactions of the business in a systematic…

Q: grity of information. policies, plans, procedures, law ssets. efficiency of onerations

A: Segregation of duties is an internal control measure. It refers to the division of duties among more…

Q: Discuss what you consider as effective board practices

A: Effective board: an effective board contributes to the organization's development and puts efforts…

Q: Describe the FASB–IASB convergence process and SEC recognition of IFRS.

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

Q: Write the definition, recognition, measurement, important key points and disclosure if any provided…

A: Financial Instrument is a contract that can be traded in a market. It becomes an asset for one of…

Q: Define International Accounting Standards Board (IASB).

A: Accounting:   Accounting is a system, or a process of collecting and organizing economic…

Q: Explain the concept of adequate disclosure.

A: Definition: Adequate Disclosures: In accounting, there is a need for adequate disclosures as these…

Q: Accounting standard-setters use the following process in establishing accounting standards:a…

A: Accounting standards are used for financial reporting. These specifies how an accounting transaction…

Q: Write a literature review on the impact of covid-19 on accounting professions.

A: The outbreak of COVID-19 has created a crisis in health, education, & Profession, and other…

Q: In addition to EPS numbers themselves, what additional disclosures should be provided concerning the…

A: Earning per share (EPS) refers to the measure of earnings that are available to each share in a…

Q: Describe the SEC’s role in establishing generally accepted accounting principles (GAAP).

A: The Generally Accepted Accounting Principles (GAAP) are the accounting principles issued by the…

Q: Describe the term certificate of compliance?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Explain Change in Reporting Entity.

A: A reporting entity is an entity whose general-purpose financial report is used by its users to have…

Q: key internal and external stakeholders

A: The internal stakeholders of a company are listed as below: Employees, Managers, The board of…

Q: Locate and describe the primary policy-making organizations and their involvement in the development…

A: This question about explains the primary policy-making organizations and their involvement in the…

Q: w accounting standards in

A: the financial statements of a company are expected to present a true and fair view on the financial…

Q: Explanation on the disclosure requirements for the accounting treatment of the MFRS 138. Clear…

A: MRFS 138 deals with Intangible Assets. MRFS are the Malaysian Financial Reporting Standards for…

Q: GENERAL PROVISIONS, BASIC STANDARDS AND POLICIES IMPORTANCE AND SUMMARY AS A WHOLE

A: General Provisions General provisions are balance sheet items representing funds set aside by an…

Q: g detailed substantive procedures

A: Option a is wrong because search of evidence about the effectiveness of the internal control system…

Q: Why does the FASB undertake a series of elaborate information-gathering steps before issuing a…

A:

Q: internal reporting.

A: Option a is wrong because one of the options is correct. Option b is wrong because ABC can only be…

Q: Identify and analyze the challenges you may face in reconciling the concept Bill of Lading and…

A: SOLUTION- Document of title:   Document of title refers to an instrument in writing that acts as…

Q: What can be interpreted from Accounting Standards Codification (ASC), of FASB?

A:

Q: What is disclosure? Write down about disclosure notes.

A: Disclosure means disclose the information properly for the users. Disclosure should be complete and…