Chapter 1, Problem 1.2IE

factors that influence the adoption of computarised accounting systems.

What is the desired benefit from revising an accounting standard?

Outline the technical benefits of a conceptual framework. What problems could occur if accounting standards were set without a conceptual framework?

What are the benefits of Accounting System Analysis?

Advantages and Disadvantages of Harmonization of Accounting Standards

What are the two of the qualitative characteristics of accounting information that contribute to its relevance and representational faithfulness?

Describe briefly the following characteristics of useful accounting information.  Comparability (consistency).  Neutrality.

What are the two fundamental qualitative characteristics identified by the Financial Accounting Standards Board’s (FASB) conceptual framework? a. Relevance and faithful representation.b. Materiality and efficiency.c. Comparability and consistency.d. Costs and benefits.

Which of the following are considered secondary characteristics of accounting information? a. varifiability and feedback value b. predictive value and timeliness c. comparability and consistency d. representational faithfulness and neutrality