Review the full disclosure principle and describe how it is implemented

Q: Discuss with examples, what are substantive audit procedures.

A: Audit procedures are the steps that auditors take to gather all information about the quality of…

Q: What information is each type of document supposed to provide?

A: Answer: There are different types of documents which provide various information.

Q: Discuss the responsibilities of and auditor’s expert.

A: The auditor’s expert refers to the organization or an individual that possesses expertise in a…

Q: Which of the following is considered an assurance engagement? Bookkeeping Preparation Compilation…

A: The question is based on the concept of Auditing.

Q: Describe about the full disclosure principle. Also tell the different ways in which information is…

A: Full disclosure principle: According to the principle of full disclosure, all the events occurred in…

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 about the Options, Warrants, and Rights.

A: Options are the type of issue of securities to the existing shareholders or employees of a company…

Q: Define Disclosure notes.

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

Q: Give some examples of the kinds of note disclosures that might be made under the heading…

A: Note disclosure as an important part of financial statement requires to disclose some important…

Q: What is the guiding objective is that lessees and lessors provide disclosures?

A: Lease: Lease is a contractual agreement whereby the right to use an asset for a particular period of…

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: 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: What does disclosure mean?

A: Meaning of Disclosure - Disclosure is generally making the information and facts available to the…

Q: what are used as evidence and the purpose of each type of document

A: Types of documents and purpose of the document as evidence.   1.Physical examination: A physical…

Q: what is the advantages and disadvantage of disclosure? and why is disclosure important?

A: The full disclosure means that company's financial statements should tell about all the important…

Q: Explain the planning activities you shall perform in the audit.

A: Audit planning is needed for associate Auditor to conduct economical and efficient audit. Target of…

Q: What are the characteristics of a confirmation? Distinguish betweena confirmation and external…

A: Auditing: The process of critical examination and evaluation of the accounting information recorded…

Q: Discuss and identify factors which indicate Non-Compliance with Laws and regulation.?

A: Non-compliance is an act of commission or ommission by the organisation that is not in accordance…

Q: The auditor's report contains a number of important disclosures, and it's important to know what…

A: Introduction : This question tells about  a number of important disclosures, and it's important to…

Q: Explain the concept of adequate disclosure.

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

Q: Discuss regulatory disclosure requirements

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

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

A:

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 required fair value disclosures.

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

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

A:

Q: Describe the term certificate of compliance?

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

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: Audit Client Acceptance Procedures

A: Audit Client Acceptance Procedures are certain procedures to be followed by the auditor before…

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 procedures are required for Review engagements?

A: Review engagement: It is a type of engagement that is only meant to provide whether the financial…

Q: e mechanism you should have propose

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

Q: What is the full disclosure principle?

A: Principles are followed by the business for preparing financial reports.

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: (Audit) Discuss the types of opinions.

A: Audit The purpose of conducting the Auditing in the organisation to know the actual financial…

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

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