What is an example of an organization that has not maintained proper financial management

Q: Explain the problems associated with inappropriate accounting practices.

A: Fraud: Fraud is a malicious act committed by people to fulfill their personal benefits. In case of…

Q: Government policies that focus on the aggregate safety and soundness of the financial system are…

A: Answer: The correct answer is option A. Macro-prudential supervision.

Q: Business damages, as a result of financial fraud, directly impact the operations of any company.…

A: Fraud is an intentional act which is committed in order to defraud a group of people for the purpose…

Q: What is the relationship among management, auditors, investors, and creditors that tends  to…

A: Preclude the “What would you like it to be?” Attitude. Making it impossible to deviate from the…

Q: Which of the following statements is incorrect? A bank providing a loan to the entity is not a…

A: D) An entity needs to disclose if it has a common director with another entity because there might…

Q: What are the costs and benefits of management’s use of judgement in financial reporting?

A: Management is the internal part of any organization and thus it plays a very crucial role in making…

Q: The important aspects of financial management do not include the following: a. Financial decision b.…

A: Financial management is management of financial assets and planning key financial decision making…

Q: Explain how serious regulatory lapses in the system is one of the difficulties associated with the…

A: The financial system is an system that facilitates the exchange of money and funds between the…

Q: Why is it necessary to have accounting standards? O A. so managers in the company can control the…

A: Accounting standards are necessary because of the following reasons:- The guidelines for treatment…

Q: What is the essence of sound financial management in an organisation.

A: Financial management is one of very important for any organisation and achieve the objectives of…

Q: “Management accounting should not fit the straitjacket of financial accounting.” Explain and givean…

A: Financial accounting is concerned primarily with the financial data related to an organization…

Q: Business damages, as a result of financial fraud, directly impact the operations of any company.…

A: Fraud includes activities such as theft, corruption, conspiracy, bribery etc. Fraud can occur in any…

Q: Change is always good for some participants and bad for others. Which types of financial…

A: Investment banks, underwriters, brokerage companies, and deposit-taking institutions such as trusts,…

Q: Which one of the following statements is not correct regarding financial accounting and management…

A: Financial accounting is a branch of accounting which means preparation and circulation of financial…

Q: One major difference between financial and management accounting is that A. financial accounting…

A: Financial accounting includes preparation and presentation of financial statements primarily to…

Q: The prudential oversight of the financial system is clearly needed to prevent financial crises,…

A: Introduction : Financial crises refers to the situation in which significant amount of assets of an…

Q: Which of the following is not a purpose of internal controls?     Guarantee profits     Protect…

A: Internal control can be defined as a system to follow the rules and mechanism in the organisation so…

Q: Which of the following is not considered to be part of the internal control structure of a…

A: Every business organisation has its own objectives and goals. Business wants to achieve that goals…

Q: b. Financial Management means planning, organizing, directing and controlling the financial…

A: Risk management refers to the process of identifying, analysing, and accepting or mitigating risk in…

Q: Which of the following is not a function of an Accounting Information System?  a.The efficient and…

A: The functions of AIS are: The efficient and effective collection and storage of data concerning an…

Q: Having inaccurate financial statements that can harm society would correspond with the ethical…

A: Financial statement:  The income statement, cash flow statement, and balance sheet. Footnotes on…

Q: What key issues must managers face in the financial distress process?

A: Financial distress happens when revenues or income and no longer meet or pay for the financial…

Q: Which of the following circumstances may create intimidation threats? a) Threat of dismissal or…

A: Please see the next step for the solution

Q: What is serious regulatory lapses in the system as difficulties in the financial system?

A: Financial system is the system where all the players are involved and exchange funds & money…

Q: It has been suggested that not all accounting choices are made by management in the best interest of…

A:

Q: Financial services are concerned with the duties of the financial manager.ture or false

A: Financial services includes professional services involving the investment and management of money.…

Q: Could efforts to avoid conflicts of interest lead an investment bank to provide poor service to a…

A: An investment is a financial institution that provides services to the company. Mainly, the clients…

Q: Which of the following statements regarding users of financial information is correct? Managers of…

A: Financial statement means the statement including income statement , balance sheet , cash flow…

Q: Financial Institution is defined as the institutional mechanism established by society to produce…

A: A company that renders financial services, for instance, an insurance company,a bank or an…

Q: The AICPA Special Committee on Financial Reporting proposed the following constraints related to…

A: Introduction  AICPA Special Committee formed in the year 1991, mainly addresses the usefulness and…

Q: What is information asymmetry? Why is it considered a problem to the financial system?

A: Information spatiality could be a condition in social science wherever one party has higher…

Q: Why is an entity permitted by financial reporting standards to change an accounting policy? O The…

A: Solution Concept The change in accounting policy is allowed under two situation                 -the…

Q: Economic consequences of accounting standard-setting means: a.    standard-setters must give first…

A: Answer:   Option d.

Q: Explain what is meant by adverse economic consequences of new or changed accounting standards.

A:

Q: Why is an entity permitted to change an accounting policy?

A: Accounting policies are the particular principles as well as procedures which are executed through…

Q: Which of the following is not considered to be part of the internal control structure of a company?…

A: Answer:  Publish accurate financial statements on a regular basis.

Q: Financial accounting data prepared in accordance with GAAP. But management accounting don’t follow…

A: The answer for the theory question on Financial Accounting vs Management Accounting is presented…

Q: Which of the following is more likely to occur when an entity has effective internal controls?…

A: Internal control means the mechanisms, rules, procedures etc. which are implemented by a company to…

Q: Explain accounting principles and how they are used within financial management in relation to…

A: SOLUTION - ACCOUNTING PRINCIPLES ARE THE BASIC CONCEPTS WHICH ARE FOLLOWED EVERYWHERE WHERE ACCOUNTS…

Q: Briefly discuss the role of the control accounts in the identification of missing figures in the…

A: The control accounts is a kind of adjustment account which gives a summary of a particular ledger…

Q: hat kinds of limitations exist in analyzing a company just by reading its financial reports?

A: solution financial statements and reports basically means the statement of profit and loss account ,…

Q: Which of the following statements is/are true? Select one: Non-financial measures are more difficult…

A: Non-financial measures- This data does not include quantitative information of financial items but…

Q: A company's financial management and stockholders might be harmed by their overconfidence.

A: Introduction: The corporation may either sell its equity shares to the public or purchase them on…

Q: Which of the following statements is true? Select one:   1.Non-financial measures may reflect…

A: The question is related to  select which satement is true.