What is the importance of Reconciliation

Q: What are the characteristics of good or useful information?

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Q: What is the function of the optional delivery commitment?

A: Delivery Option:It allows to switch a short position to a different grade or quality for a standard…

Q: What does the disclosure principle require?

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Q: What is a standby commitment? When and why is it used?

A: A formal contract between a borrower and bank, that the bank will lend a certain amount to him/her…

Q: What are the relative merits of input from source documents and direct input?

A: Definition: Direct input: The data that are directly inserted into the system from the source data…

Q: Define in your own words the term diversity.

A: Accounting diversity refers to variances in the recording and use of financial data; American firms…

Q: What is the meaning of anchoring in negotiation

A: Negotiation refers to having a conversation where two or more parties attempts to agree at a common…

Q: What is the distinction between comparability and consistency?

A: Comparability means to make comparison between or among the companies according to their status…

Q: Accountability in

A: Accountability is assigning roles and responsibilities of persons regarding work done by them.

Q: What is the main objective of IASB?

A: IASB: International Accounting Standards Board is abbreviated as IASB.  IASB is the organization…

Q: Define agency conflict

A: Agency conflict denotes to the conflicts that arise between the agent and Principal. In the finance…

Q: What are some factors thatmight lead to synergy?

A: Introduction: When two companies combine and raise the valuation of the new firms and thereby…

Q: Describe the benefits of decentralization.

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Q: What are the approaches to negotiation?

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Q: Define and explain the significance of the term CMA.

A: Certified Management Accountant (CMA): CMA stands for certified management accountant. CMA…

Q: What is scalability?

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Q: Which answer is correct and why?

A: Under average cost method, average cost per unit is calculated as: = Total cost of opening inventory…

Q: What is the objective of having a conceptual framework?

A: Conceptual framework means set of rules and guidelines that help the users and preparers in…

Q: Who are stakeholders?

A: Stock: It refers to a security issued in a form of certificate. It implies the right of ownership of…

Q: What are the functions of the conceptual framework under IFRS?

A: International Financial Reporting Standards:   IFRS (International Financial Reporting Standards) is…

Q: what arw the objectives of engagement letter

A: SOLUTION ENGAGEMENT LETTER IS A WRITTEN AGREEMENT THAY DESCRIBES THE BUSINESS RELATIONSHIP TO BE…

Q: What is the cause of the agency problem and how do we try to solve it?

A: Agency Problem:  An agent is a person who acts on behalf of another person. An agent should always…

Q: What is a Review engagement?

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

Q: Which qualitative characteristic is an ingredient of relevance? O understandability O materiality O…

A: Answer

Q: What standards govern Review engagements?

A: Audit means independent examination of books of accounts or financial information  so so as to…

Q: hy should the stakeholders be interrelated with each other?

A: Partner or stakeholder relations is the act of forging commonly helpful associations with outsiders,…

Q: What role do synergies play in negotiation and does it imapct the end result?

A: Synergies create more worth than the sum of their parts separately. In other words, this is the…

Q: Which qualitative characteristic is an ingredient of relevance? a. Verifiability b. Timeliness c.…

A: As per general accounting principal, financial statements of an entity should be true and fair. In…

Q: Define the term lnvesting activities? Explain with an example?

A: Investing activities are the activities in a business which involves investment done during a…

Q: What are some examples of strategic relationships?

A: Some examples of Strategic relationship are presented hereunder : What is Strategic relationship?…

Q: Explain what is goodwill?

A: Solution:- Introduction:- Goodwill is an intangible asset. Goodwill arises when a company looking…

Q: Why are the realization and matching principles important? Only the importance

A: Accounting principles: These are the assumption, concepts, and guidelines necessary to prepare and…

Q: Why is the content of a proxy statement considered to be so important?

A: Importance of content of a proxy statement: Most of the significant actions undertaken by a company…

Q: What is the purpose of the FASB’s conceptual framework?

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Q: What are the strengths and weaknesses of Agency theory and stakeholders?

A: Agency Theory A theory that is used to explain and resolve issues in the relationship between…

Q: What do you understand by IFRS?

A: Financial reporting: Financial reporting is a process of preparing reports which disclose financial…

Q: RTN: What is its significance?

A: RTN is an abbreviation of Routing Transit Number, which is very important aspect in the banking as…