If you were given complete authority in the matter, how would you propose that GAAP should be developed

Q: What are the scopes of the IPSASs?

A: Financial Accounting- It is the branch of accounting that records events of financial nature that…

Q: Explain Regulatory Provisions?

A: Regulations: The regulation is processed by which a complex system is managed under a set of rules.

Q: Explain how materiality affectsaudit reporting decisions.

A: American Institute of Certified Public Accountants (AICPA): AICPA is the organization which supports…

Q: Answer asap please,   With the use of examples, differentiate between: Theoretical expertise and…

A: Sharing and rapid knowledge growth are made easier by information technology. Information technology…

Q: What guidance does the Codification provide concerning the disclosure of research and development…

A: Research and development (R&D) incorporate activities that are taken up by an organization to…

Q: What are the major differences between the IFRS conceptual framework and the FASB conceptual…

A: ANSWER     The components of the conceptual framework for ­financial reporting include recognition…

Q: Why should regulatory regimes be ‘proportionate’ and ‘real-time’? What are the fundamental building…

A:

Q: What standards govern SSARS engagements?

A: American Institute of Certified Public Accountants (AICPA):   It is an association of certified…

Q: e the use of pro forma statements in informed decision-making?

A: Step 1When it comes to accounting, pro forma statements are the financial statements of your…

Q: What are GAAP principles

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

Q: What is the main objective of IASB?

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

Q: How are IFRS and the codification related? Do you feel that IFRS adoption could happen without…

A: The question is related to International Financial Reporting Standards (IFRS) and Codification. The…

Q: Are the differences between IFRS and U.S. GAAP significant? Explain

A: IFRS:-These are the International Financial Reporting Standards which followed by the companies,…

Q: 3 What were some of the challenges to the IASB in developing a conceptual framework?

A: International Accounting Standards Board (IASB): IASB is the board which frames, develops, approves,…

Q: What are the similarities and differences (if any) between the IPSASs and the IASs/IFRSs?

A: The international public sector accounting standard board (IPSASB) seems to be an unbiased…

Q: a.What is the IPSASB and reason(s) it was established?  b.What are the objectives of the IPSASB?

A: Accounting standard refers to the common set of rules, regulations, principles, and procedures that…

Q: What is the difference between the Codification and the Codification Research System?

A: FASB: The FASB is an independent, designated and non-profit organization established by SEC for…

Q: IPSASB

A: What is IPSAB REASON IT WAS ESTABLISHED WHAT OBJECTIVE OF THE IPSASB WHY THE IPSASB DEVELOPED THE…

Q: hat are the Sarbanes-Oxley Act and GAAP?

A: In order to reduce the fraud in corporations while recording financial transitions or preparing…

Q: Explain Institutional Review Boards?

A: Under bureau tips, associate bunch assigned to audit and screen medicine exploration as well as…

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: Why is a policy statement important?

A: A policy statement or an investment policy statement is a document created by the investment…

Q: What are Substantive Procedures?

A: Auditing:   Auditing refers to the procedure for providing independent report over the presentation…

Q: developed the IPSASs? d.What are the scopes of the IP

A: International Public Sector Accounting Standards (IPSAS) are a collection of accounting standards…

Q: Governance issues include the following except;

A: The corporate governance represents the rules and practice by which the company would be controlled…

Q: What criteria must an instrument meet to be negotiable?

A: Following are the formal requirements that an instrument must meet to be negotiable: Must be in…

Q: What makes information relevant to decision making?

A: The information that is essential to occur in the future and is different from the identified…

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: An analysis of systems serves what purpose? What kind of information should be included in the…

A: The answer

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

A:

Q: who is responsible for selecting and prioritising projects?

A: There is need to select the projects among all available projects because all projects can not be…

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

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

Q: e mechanism you should have propose

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

Q: What do you understand by IFRS?

A: Financial reporting: Financial reporting is a process of preparing reports which disclose financial…

Q: Explain how a possible conflict between neutrality and prudence could arise and how the conflict…

A: Neutrality and Prudence are two characteristics of reliability of accounting information. Neutrality…

Q: Has the IASB-FASB convergence process been successful?

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

Q: What are the scopes of the IPSASs?

A: INTRODUCTION TO IPSASs :  International Public Sector Accounting Standards Board (IPSASB) has…