Explain the measurement attributes employed in GAAP.

Q: determine the initial recognition, initial measurement, and subsequent measurement ofbonds;

A: The face value of a bond is the fixed maturity value and the coupon is the fixed periodic amount…

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

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

Q: How to audit PPE?

A: Introduction:- PPE means:- PPE means property , plant, Equipment Which is identified as Fixed asset…

Q: Assuming that these activity levels are within the relevant range, the maj was:

A: Manufacturing overhead:   Manufacturing overhead refers to indirect costs that are incurred in the…

Q: what does measurement focus mean?

A: Accounting: It is the process of recording, classifying, summarizing all transactions of a business…

Q: When there is agreement between a measure or description and the phenomenon it purports to…

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

Q: Explain all differences between GAAP and IFRS

A: Generally accepted accounting principle (GAAP) It is the common set of procedures, principles, and…

Q: How should one establish performance measurements? And how can they be aggregated?

A: Business Sustainability: Business sustainability is increasing the business worth for a long term,…

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 in detail about the 3 measurement attributes employed in GAAP.

A: There are three measurement attributes employed in GAAP: Historical Cost Net Realisable Value…

Q: What is the current approach embraced by standard setters in measurement and write its advantages…

A: Measurement is the manner of determining the quantitative values at which items of financial…

Q: What is the purpose of physical contols

A: Physical controls are basically to safeguard the assets of the entity which are highly valuable. It…

Q: Explain the politics in standard setting.

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

Q: explain the relationship between hedging and measuring exposure.

A: Hedging is basically a type of risk management strategy through risk can be reduced significantly…

Q: How to calculate Specification identification

A: Inventory is considered as the items that kept in a business for production or sale or production.…

Q: Differentiate between physical units and equivalent units

A:

Q: Describe standards for comparisons in analysis.

A: Financial statement analysis: Financial statement analysis is a valuable measure for evaluating…

Q: Define the term performance obligations.

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

Q: Describe the basic assumptions of underlie GAAP.

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

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 Standard-Setting Process.

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

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: Which of the following elements of fi nancial statements is most closely related to measurement of…

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

Q: What is a reportable operating segment?

A: Operating segment is a segment of a company which can generate its own revenue and has its own…

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: Define the term effective rate.

A: The effective rate is the real return on a savings account or any interest-paying investment when…

Q: Which of the following elements of fi nancial statements is most closely related to measurement of…

A: Financial statements are statements which provides the information about the financial position of…

Q: Define the term assurance.

A: Assurance: Assurance is a financial coverage that delivers payment for an occurrence that is sure to…

Q: What does RI measure?

A: Residual Income: Residual income is the income earn over the minimum rate return of the company. In…

Q: Define benchmarking

A: Definition : Benchmarking can be understood as the method of contrasting company procedures and…

Q: How the MIRR is calculated

A:

Q: Define asset allocation models

A: Definition : Asset allocation mechanisms can be understood as an investment technique that seeks to…

Q: Define the term analysis period?

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

Q: Please answer performance measurements allocation

A: Activity based costing system: It is precise method of allocation of overhead to the products. Under…

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 concepts and principles which underlie the SMEs standard

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