What is an estoppel? Why is it used?

Q: What is full form of GAAP? Describe about it.

A: Generally Accepted Accounting Principles, are commonly known as GAAP

Q: es FRA’s primarily and why?

A: Step 1 Forward rate agreements (FRAs) are agreements that are obtained over the counter between two…

Q: What is the basis for distinguishing between operating and nonoperating items?

A:

Q: What form is required?Explain why this is the correct form?

A: Taxation states the financial charge or obligation which is imposed through the government or…

Q: What is Glass-Steagall Act?

A: Glass-Steagall Act splits up the investment and commercial banking segments of an investment bank.

Q: What is the IPSASB and reason(s) it was established?

A: IPSASB : INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS BOARD (IPSASB). It plays a significant…

Q: What does the disclosure principle require?

A:

Q: What is indirect quote?

A: A quote is an expression of foreign exchange rate of one currency with domestic currency. Quote is…

Q: What is a statement of circumstances?

A: The external auditor is expected to lodge a statement of circumstances at the company's registered…

Q: is a “look through entity”

A: Look-Through Entity: Look-Through Entity suggests that an individual that's registered under the…

Q: What is an abstract of title?

A: Abstract of title refers to a document that summarizes different activities affecting the ownership…

Q: What are the equivalent units?

A: Equivalent units:           Completed units   150       Ending Inventory   20       Total…

Q: Which statement is correct?

A: A current ratio is one of the ratios used to assess the liquidity of the company. It shows that the…

Q: What is the meaning of Frieght Inward and Frieght outward?

A: Freight-inward: Freight-inward is a transportation cost related with the acquisition of goods. In is…

Q: What is ESOP?

A: It is abbreviated as Employee Stock Ownership Plan is defined as a plan that gives the workers a…

Q: What is discretionary reporting?

A:

Q: purpose of FA

A: FASB stands for Financial Accounting Standards Board. It is a non-profit organization that follows…

Q: What’s the AMT, and what is its purpose?

A: The main purpose of AMT is to set a limitation on the tax payers who may be making use of the excess…

Q: What are the two inputs required in the preparation of the pro forma statements?

A: Pro forma financial statements are reports that are formed based on hypothetical situations in the…

Q: What is CAPM? How about APT?

A: CAPM and APT are two common models for pricing used in finance. These are explained below.

Q: What ‘LIBOR’ stands for?

A: LIBOR :  LIBOR, which stands for London Interbank Offered Rate, is a globally accepted key…

Q: How is a change in entity recorded?

A: Change in reporting entity:   A change in reporting entity occurs when two or more previously…

Q: What is incorporation by reference?

A: Securities and Exchange Commission (SEC):   The board which set rules for the companies for…

Q: What is understood by Incorporation by reference?

A: Securities and Exchange Commission (SEC):   The board which set rules for the companies for…

Q: What is meant by the term management by exception?

A: Business Management:   Business management refers to the skills associated with running a company…

Q: What is an LBO?

A: Leveraged buyout (LBO): It is another firm's takeover, employing a huge sum of borrowed capital to…

Q: Define claim

A: Corporation - An organization that has been registered as a corporation under a corporation act has…

Q: What two conditions must valid entities meet?

A: Entity:   Entity in the context of database management implies anything regarding which data is…

Q: What is the correct amount of nventory?

A: Goods in transit, shipped at FOB shipping point are to be removed from inventory because they left…

Q: What are Substantive Procedures?

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

Q: What is the primary difference between the APT and the CAPM?

A: APT is an abbreviation used for arbitrage Pricing Theory whereas CAPM is an acronyms used for…

Q: What does the statement mean?

A: A financial system is a collection of entities that allow money to be exchanged, such as banks,…

Q: What transaction is covered by Maceda Law?

A: MACEDA LAW is also known as REALTY INSTALLMENT BUYER ACT, was approved in 26th August 1972 to…

Q: What is covered by Regulation S–K?

A: Securities and Exchange Commission (SEC):   The board which set rules for the companies for…

Q: Is there are any relation between the CFPS, EPS, and DPS?

A: The financial statements of a firm is used and analysed by determining various types of financial…