What is discretionary reporting?

Q: Which of the following is the impact of agency cost?

A: Agency costs are internal costs incurred due to the competing interests of Shareholder i.e the…

Q: Provide examples of how finacial statments are useful and or how they are used?

A: Financial statements refer to such statements which report the profitability and the financial…

Q: Explain Regulatory Provisions?

A: Regulations: The regulation is processed by which a complex system is managed under a set of rules.

Q: What is responsibility accounting?

A:

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

A:

Q: What is preemptive rights offering?

A: Preemptive rights:  A contractual clause that provides the shareholders with a right to purchase the…

Q: What is managing underwriter?

A: Managing Underwriter: The leading company in a guaranteeing group, which creates the transaction and…

Q: What is the difference between "Comptroller" and "Controller"?

A: Meaning - Comptroller is the person responsible for audits and expenses of the government. The…

Q: When is nonfinancial information relevant?

A: Non-Financial information: Non- Financial decisions are qualitative in nature and do not include…

Q: What does the disclosure principle require?

A:

Q: What standards govern SSARS engagements?

A: American Institute of Certified Public Accountants (AICPA):   It is an association of certified…

Q: anuty What general internal control v

A: Given case is: All-Around Sound Co. discovered a fraud whereby one of its front office…

Q: What is meant by noting of bill ?

A: Meaning of Noting of BillWhen a bill (draft or promissory note) has been presented for acceptance or…

Q: When is independence required?

A:

Q: What is an estoppel? Why is it used?

A: Estoppel is the legal principle which is helpful for any future contradiction. It means that…

Q: Define agency conflict

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

Q: Define the term revenue recognition.

A: Accounting principle: These are the guidelines which are to be applied while preparing the…

Q: on based

A: There are three main models of the judicial decision-making that explain how judges come to a…

Q: What does disclosure mean?

A: Meaning of Disclosure - Disclosure is generally making the information and facts available to the…

Q: What is management by exception?

A: Management by Exception: Management by exception is one of the management styles where the…

Q: What is Discretionary Spending;

A: The items which are used for entertainment and for recreation which the consumers generally purchase…

Q: What is meant by the term responsibility accounting?

A: Introduction: responsibility accounting is the process of the controlling the cost by giving the…

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 accountability

A: The transactions that are happened in the company will be analyzed, and recorded in the first book…

Q: what is State indebtedness

A: Any obligations and liabilities for borrowed money created, issued, or incurred by the Purchased…

Q: Which method(s) are required for external reporting? For internal reporting?

A:

Q: Define collection policy

A: Introduction: A mutual responsibility between the operating departments, accounts receivables is to…

Q: What is covered by Regulation S–X?

A: Regulation S-X is a U.S. Securities and Exchange Commission rule that covers annual reports from…

Q: What is the purpose of a responsibility accounting system?

A: Responsibility accounting system: the responsibility accounting system is an internal system that…

Q: What is the SEC and what role does it play?

A: SEC stands for Securities and Exchange Commission. It is an agency of United States, which is a…

Q: What does operating activities includes?

A: Statement of cash flows: This statement reports all the cash transactions which are responsible for…

Q: Define underinvestment problem

A: Underinvestment refers to the situation where company or firm has insufficient investment or can…

Q: Define Revenue

A: The revenue is reported on the income statement of the company, and it is used to derive the net…

Q: Define revenues

A:

Q: . What is the economic and political environment in which standard setting occurs?

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

Q: What is covered by Regulation S–K?

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

Q: What is interim reporting?

A: Financial Reporting:   It refers to the disclosure of the financial results of the organization to…