The document which sets out basic rules for how a compay is to run?

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

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

Q: Namespaces must be declared at the beginning of an XBRL do

A: Answer: The Internet address(URL)  where an XBRL taxonomy "lives". Name spaces must be declared at…

Q: What is a memorandum entry? Why it is done?

A: A memorandum entry is different from the journal entries. The memorandum entry is not recorded by…

Q: What functions does the FASB perform?

A: FASB :                          FASB is defined as "The Financial Accounting Standards Board" is a…

Q: Explain principal (agency relationships)

A: Answer: Agent: An agent is one who provides work on principal’s behalf.  Principal approves agent to…

Q: How to be an ips officer

A: The answer is stated below:

Q: Define agency relationship

A: Agency relationship is the part of business law where it is a legal relationship between the two…

Q: Define the term posting process.

A:

Q: List the primary users of the FRS, and discuss their information needs.

A:

Q: Match the conditions for internal control to each of the policies listed.

A: Internal Control:   Internal control is a process which ensures continuous reliability of…

Q: date?

A: The FASB issues an Accounting Standards Update (Update or ASU) to communicate changes to the FASB…

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: Identify the following users as either external users (E) or internal users (I). Directors

A: Users of information: Users of information can be classified as internal and external users.…

Q: Define agency problems,

A: Agency problems occur when the managers use the firm's resources to invest in projects that may not…

Q: Match each transaction with its related term: Terms Definitions

A: Adjusting entries: Adjusting entries are those entries which are recorded at the end of the year, to…

Q: What are the functions of the PCAOB?

A: Introduction PCAOB stands for Public Company Accounting Oversight Board. This is a private…

Q: Describe the purpose of caash receipts journal.

A: The cash receipts journal is a special section of the general journal specifically used to record…

Q: What are the two parts of a registration statement? What does each part contain?

A: Registration statement is composed of two parts 1. Prospectus 2. Informational needs of the staff of…

Q: Summarize what are the MACRS guidelines?

A: The MACRS (Modified Accelerated Cost Recovery System) is the current tax depreciation system in the…

Q: Define operating activities.

A: Explain the meaning of operating activities:Statement of cash flows: This statement reports all the…

Q: Explain an example of source documents.

A: Source documents: The documents which contain evidence of accounting data to record the transactions…

Q: Define the term operating activities.

A: Operating activities are the functions of a business directly related to providing its goods and/or…

Q: Describe the primary roles of the PCAOB.

A: PCAOB indicates to a non-profit organization stated in US and set up by Sarbanes-Oxley Act in…

Q: The process of making the units of the filing name (pr segment) by which the record is to be stored…

A: The process of making the units of the filing name by which the record is to be stored is called…

Q: describe the roles of fi nancial reporting and fi nancial statement analysis;

A: Financial reporting means representing records maintained by an organization in the form of…

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

A:

Q: PREPARE THE GENERAL LEDGER

A: General ledger accounts are used to post recorded transactions into appropriate accounts. These are…

Q: Describe the term certificate of compliance?

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

Q: What are the operating activities? Give some examples?

A: The statement of cash flows is the statement which shows the change in the cash and cash equivalents…

Q: What is the purpose of a registration statement?

A: Registration statement is a legal document which is filed with the SEC to register securities for…

Q: briefly, what is the role of the clearinghouse, and is it important?

A: Clearance is very important to meet buyers with sellers and to make transactions possible between…

Q: authorization payment

A: Authorization of payment means allow subordinates to make payment after approval of top executives…

Q: Identify the following users as either external users (E) or internal users (I). Suppliers

A: Accounting users: Accounting users are the persons, who use accounting information for investment…

Q: What are some true statements regarding the use of a worksheet?

A: There are multiple statements regarding the use of worksheet which is true, we are indicating some…

Q: What are support events?

A:

Q: Define Source documents.

A:

Q: What documents constitute the AP packet? Whatevidence does each document provide?

A: An organization should record a liability in its books of accounts based on the invoice amount after…

Q: Which information is presented by an organization chart?

A: organisation chart is basically the information bulletin of all the functional departments in an…

Q: What are the responsibilities of the PCAOB?

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