What functions does the FASB perform?

Q: uestions below

A: Compound interest is used in case of lump-sum money accumulates in the future if interest is charged…

Q: What primary activities does the B/AR/CR process perform?  Explain each activity.

A: Given, What primary activities does the B/AR/CR process perform?

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: Describe the purpose of the AICPA. What is the AICPA’s primary function?

A: The American Institute of CPA (AICPA) is a non-profit organization of Certified Public Accountants…

Q: What necessitated the Aadhaar Paperless Offline e-kyc? What are the steps involved in conducting it?

A: The Unique Identification Authority of India provides a system to verify the identity of an…

Q: Is a flowchart an effective documentation technique for identifying who or what performs a par-…

A: Flowchart:   A flowchart is a representation of the procedures related to transactions in the…

Q: What are the major functions performed by the OE/S process?  Explain each functions.

A: Order-to-cash process or revenue process is the process undertaken for making sales and receiving…

Q: Define agency relationship

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

Q: Discuss the various sources of data for the FRS output and how these data are processed into…

A: Financial reporting system (FRS) can be defined as the process of producing and maintaining the…

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

A: Every company operating as a limited liabilities corporation, partnership firm, or public company…

Q: Define the term internal users.

A: Internal users are people within a business organization who use financial information. Examples of…

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

A:

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: Required: Prepare the entries to be made by the agency.

A: As per IFRS 9 "Financial Instruments", an organization shall measure a financial asset or financial…

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: How to create journalizing transaction with this kind of problem?

A: Journal entries recording is the initial step in accounting cycle process. Under this, atleast one…

Q: grity of information. policies, plans, procedures, law ssets. efficiency of onerations

A: Segregation of duties is an internal control measure. It refers to the division of duties among more…

Q: Explain how copmany approch to planing and its mission can be translated inti action plans

A: Planning: Planning refers to the process which helps in bridging the gap between the point the…

Q: What is meant by Authorized and issued captial?

A: Meaning of Authorised capital  stock:Authorised stock refers to the maxinum number of preferred…

Q: Where is the IASB located?

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

Q: Which organization initiated the convergence process between GAAP and IFRS and why?

A: GAAP -: GAAP is a mixture of definitive standards (established by policy boards) and the normally…

Q: Discuss the objectives of segmental information and the requirements for the disclosure of segmental…

A: Segmental information: Segmental information is the way of providing the overall information about…

Q: FASB process of coding and issuing pronouncements.

A:

Q: What represents a company’s primary means of cummunicaying information to external users?

A: First of all, we need to understand who are external users- these are the people who are interested…

Q: What are fundamental tasks of data base managment ?

A: “Since you have asked multiple question, we will solve the first question for you. If youwant any…

Q: What are the major functions performed by the OE/S process?  Explain each function.

A:

Q: What is full form of CIP? Explain about it.

A: Carriage and Insurance Paid to is the full form of CIP

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: What is ESG reporting and why does it matter?

A: Transparency on ecological and socially responsible actions is becoming more popular. Environmental,…

Q: __________ is a process by which information and understanding are transferred between a sender and…

A: __________ is a process by which information and understanding are transferred between a sender and…

Q: Explain the relationship between the three levels of the data definition language. As a user, which…

A:

Q: Differentiate between letters, memo and report?

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

Q: Can a turnaround document contain information that is subsequently used as a source document? Why or…

A:

Q: would in SOurces Stateme support

A: Tax laws in Phillipines are progressive for individuals and…

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 is the purpose of the IPSASB and what are the reasons for its establishment?

A: This question tells about the purpose of the IPSASB and what are the reasons for its establishment .

Q: What information is provided by this statement?  Describe the steps to create the statement - choose…

A: In this question, the name of the statement is not given, It is assumed as statement of cash flows…

Q: Is it a turnaround document contain information that subsequently used as a source    document?…

A:

Q: What are the components of relevant information? What are the components of faithful representation?

A:

Q: Prepare reversing entries and explain their purpose.

A: Hi define reversing entries and explain their purpose is considered as question.