Solve in accounting Those are some of the reasons for a vacancy in a board or trusteeship? What is the best way to fill the vacancy
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Those are some of the reasons for a vacancy in a board or trusteeship? What is the best way to fill the vacancy?
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- What are the responsibilities of the Board of Directors for the financial statements? Or What are the responsibilities of the Management for the financial statements?What is the indirect effect of a change in accounting policy? Briefly describe the approach to reporting the indirect effects of a change in accounting policy under IFRS.How will a role of an accountant change post COVID-19?
- Why is accounting said to be ‘political’ in nature? How can a conceptual framework help in the setting of accounting standards in a political environment?Shareholders are external user of accounting information . The answer is true or falseHow should an accounting professional go about determining whether a proposed action is in the public interest?
- One reason that an cntity is allowed to change its accounting policy is when It is required by an accounting standard. It is required by law. It is ordered by management. All of these would allow an entity to change an accounting policy.How has the Sarbanes-Oxley Act changed Public Accounting? Cite examples.Economics (a) Which would you choose as the priority for ethical behaviour in the accounting profession: “protect the public interest” or “protect the credibility of the profession?” Explain, providing an example. (b) Explain the affiliation between the fiduciary relationship and conflict of duties when a professional accountant provides a service to a client. Provide an example
- Question 1 (i) What is a 'quorum?'A. The minimum number of 'qualifying persons' required in order to validly conductbusiness.B. A meeting that lacks a chairman.C. The maximum number of persons who may attend a meeting.D. A meeting that is invalid because sufficient notice has not been provided. (ii) Which one of the following is not a right of a shareholder?A. To receive a dividend declared by the companyB. To attend and vote a meetingsC. To receive the company's accountsD. To manage company affairs (iii) From which theoretical perspective would disclosure and transparency be bestexplained?A. Managerial hegemony theoryB. Stakeholder theoryC. Resource dependence theoryD. Agency theory (iv) Which of the following will NOT be a likely ground to blow the whistle?A. When there are serious breaches of company rules and regulationsB. When somebody feels personally aggrievedC. When there are threats to human safetyD. When there are serious concerns about a possible fraudWhy is an entity permitted to change an accounting policy? a. The change would allow the entity to present a more favorable profit picture. b. The change would result in the financial statements providing more reliable and relevant information about financial position, financial performance and cash flows c. The change is made by the internal auditor d. The change is made by the CPA (Certified Public Accountant)What is the accounting equation for a trustee in a bankruptcy proceeding (i.e., corporate liquidation)? a. Assets equal accountability b.Assets equal liabilities plus owner’s equity c.Assets equal liabilities minus estate deficit d.Assets minus liabilities equals accountability