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

Q: What is the intent of FASB Statement 13 and ASU 2016-02?

A: FASB 32 is a statement establishing the guidelines and procedures for reporting leases by lessors…

Q: Conceptual framework was 1st adopted by IASB, on what particular date?

A: The Conceptual Framework sets out the fundamental concepts for financial reporting that helps to…

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

A:

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: identify characteristics of a coherent fi nancial reporting framework and the barriers to creating…

A: Introduction: The structure for the financial reports specifies the collection of standards and…

Q: Determine when and what types of information must be disclosed for geographic areas.

A: Definition:   Segment reporting: Presenting the financial statements along with the necessary…

Q: What are the two prerequisites for the application of EAC

A: The Answer is about the two prerequisites for the application of EAC:

Q: What are some of the differences in elements in the IASB and FASB conceptual frameworks?

A: Financial accounting standards board (FASB): This is the organization which creates, develops, 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: 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: Identify the items from the following list that are likely to serve as source documents.

A: As it is difficult to check the boxes, i am providing the answer manually: The list that can be…

Q: Describe the mission of the FASB.

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

Q: Define Disclosure notes.

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

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: Complete the following chart indicating the corresponding Auditing Standards Board assertions and…

A: The financial statements contain all the assertions of the management about the recorded information…

Q: Explain how to set the date of the first adoption of IFRS and first reporting date in accordance…

A: The International Financial Reporting Standards (IFRS) were developed to ensure that accounting…

Q: FASB rules for research and development

A: solution FASB                 FASB stands for financial accounting standards board…

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: FASB process of coding and issuing pronouncements.

A:

Q: Describe the mission of the IASB.

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

Q: What are the key points of the ‘‘Issuer and Management Disclosure’’ of the Sarbanes-Oxley Act?

A:

Q: What disclosures are required For areas determined to be reportable operating segments?

A: Definition: Operating segment: Operating segments are different business verticals of a company that…

Q: Make a list and indicate the titles and descriptions of the current IASs and IFRSs .

A: List of International Financial Reporting Standards (IFRS) IAS 1 Presentation of Financial…

Q: Which method(s) are required for external reporting? For internal reporting?

A:

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

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

Q: What major types of items are reported in the retainedearnings statement?

A:

Q: What are the rules for SSARS engagements in terms of standards

A: It tells about the rules for SSARS engagements in terms of standards:

Q: pose of analysis

A: Interim reports : A accounting statement spanning a term of shorter than 1 year is known as an…

Q: Which organization is responsible for promulgating U.S.​ GAAP?

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

Q: What is the chronological order in the evaluation of a typical standard? A. Discussion paper,…

A: Following is the chronological order in the evaluation of a typical standard: The Board issues an…

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: g detailed substantive procedures

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

Q: COA needs to journalize the appropriation and allotment released by DBM. * true or false?

A: The government uses a different way to report their financial statements than the private sector…

Q: The NEC is published by whom?

A: The question is based on the concept of accounting theory.

Q: How is the date of transition and the date of reporting determined in first-time adoption of IFRS?

A: Date of transition is the beginning of the earliest period for which an entity presents full…

Q: S or amending for existing IFRS.

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

Q: What are the responsibilities of the PCAOB?

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

Q: What indexes does Target use to measure the LIFO provision?

A: Inventory:   Inventory for a business refers to stock in hand, work in process, raw materials,…

Q: who participates in the pre-audit conference, and what topics should be covered

A: The audit is an examination of books of accounts by an auditor and physical verification of…

Q: What is interim reporting?

A: Financial Reporting:   It refers to the disclosure of the financial results of the organization to…

Electronic Health Records, HIPAA, and HITECH

Electronic health records mean maintaining patients’ medical records in an electronic version. Electronic health records are patient-centric records that provide patient information immediately and enable the authorized person to access them. Electronic health records contain the details of patients, treatment details, medical records, radiology reports, and laboratory reports.