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

Q: etail the primary goals of FASB codification,its structure and content.

A: For nonprofit organizations, the FASB Accounting Standards Codification® is the excellent feature of…

Q: GRI Reporting Framework disclose outcomes and results occurred within the reporting period EXCEPT…

A: GRI reporting framework is global reporting initiative which are independent standards at…

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: describe the objective of fi nancial statements and the importance of fi nancial reporting standards…

A: The security analysis is the process of estimating the value of the securities (like shares, bonds,…

Q: In most cases, which of the following materiality the practitioner in a review engagement should…

A: Materiality refere to the concept of all material information should be reported in the financial…

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: 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: What can be understood from Integrated disclosure system.

A: Integrated disclosure system: It is an update in the security exchange commission’s guidelines to…

Q: Which of the following is not a characteristic of a coherent fi nancial reporting framework? B .…

A: Coherent financial reporting framework is a reporting framework  which requires that a reporting…

Q: Describe about the conceptual framework coherent system of interrelated objectives and fundamentals.

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

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: For what purpose is the report used? What improvement could be made in this report based upon the…

A: Gross profit refers to Sales less all direct costs involved in production of the products or…

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: Substantive procedures consist of substantive analytical procedures and test of details. *

A: There are two types of substantive procedures -

Q: Standardize auditing procedures by identifying industry consensus (GAAS). What's the point of GAAS,…

A: The Question deals with standardize auditing procedures by identifying industry consensus (GAAS):

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: 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: Explain the concept of adequate disclosure.

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

Q: Which membership bases are categoried as current value measurement bases in the conceptual…

A: The process of determination of monetary values at which the financial statement items are…

Q: Discuss regulatory disclosure requirements

A: Rules that must be abided by in disclosure statements provided to clients or customers. These…

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

A:

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: describe implications for fi nancial analysis of diff ering fi nancial reporting systems and the…

A: Financial report may be defined as the collection of major financial statements which are prepared…

Q: Define the management assertions of existence or occurrence, completeness, rights and obligations,…

A: Management assertion is the declaration by the management about the content of the financial…

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: Describe a review engagement and explain the level of assurance given in such an engagement.

A: You have asked to answer different questions under a single question and we provide solution to one…

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: Identify the major policy-setting bodies and their role in the standard-setting process

A: Auditing: Auditing is the process by which assertions made by management about financial…

Q: 5. Which of the following statements is corrèct? I. The Conceptual Framework sets out the standards…

A: Solution Note : As per the Q&A guideline we are required to answer the first question only .…

Q: describe mechanisms that discipline fi nancial reporting quality and the potential limitationsof…

A: The mechanism that discipline financial reporting quality includes the free market and incentives…

Q: Which of the following is a phase of the joint FASB and IASB conceptual framework project?   mixed…

A: Joint FASB and IASB has eight phases. They are:  Objectives and qualitative characteristics…

Q: e mechanism you should have propose

A: Developed by Central BOS, CBOS cloud business management software is connected to every department…

Q: Define generally accepted auditing standards (GAAS). What is the purpose of GAAS?

A: The explanation is provided as follows:

Career in Insurance Industry

The insurance industry offers a variety of jobs in a variety of divisions. A person can work as an administrative officer, assistant administrative officer, development officer, insurance or composite agent, actuary, or underwriter. These positions may be in the finance, marketing, or underwriting divisions.