What are the functions of the conceptual framework under IFRS?

Q: What does the term “attainable set” mean?

A: The art of deciding the investment mix and policy, making the investments equivalent to its…

Q: Discuss the major characteristics of a theory.

A: Discussion of major characteristics of a theory

Q: tutes an AD

A: Introduction : An ADT can be understood as the programmer-defined type having the following…

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

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

Q: What are the scopes of the IPSASs?

A: Financial Accounting- It is the branch of accounting that records events of financial nature that…

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 meant by cardinality in entity relationship diagrams?

A: An entity relationship diagram is a representation of all the resources that are associated with the…

Q: What are the steps to achieve conformance to specification?

A: Conformation to specification:   This refers to the regulatory requirements of an organization. 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 are the major differences between the IFRS conceptual framework and the FASB conceptual…

A: ANSWER     The components of the conceptual framework for ­financial reporting include recognition…

Q: What standards govern SSARS engagements?

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

Q: Explain the politics in standard setting.

A: Financial accounting standards board (FASB): This is the organization which creates, develops, and…

Q: Describe the usefulness of a conceptual framework.

A: A conceptual framework can be defined as a system of ideas and objectives that lead to the creation…

Q: What is the main objective of IASB?

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

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 key assumptions of the CAPM?

A: Introduction: The CAPM is an equilibrium model that stipulates the relationship between necessary…

Q: Illustrate the CDO Structure?

A: CDO is the abbreviation used for collateralized debt obligation. It is corporate based funanacial…

Q: what is the purpose of the conceptual framework?

A: The conceptual framework is comprised of six Financial Accounting Concepts statements that serve as…

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

A: PBGC means Pension Benefit Guarantee Corporation. This corporation is a federal agency created by…

Q: ptual Framewor

A: A conceptual framework is a written or visual representation of how variables should interact.…

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 is full form of CIP? Explain about it.

A: Carriage and Insurance Paid to is the full form of CIP

Q: What is ESG reporting and why does it matter?

A: Transparency on ecological and socially responsible actions is becoming more popular. Environmental,…

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 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 is the purpose of the IPSASB and what are the reasons for its establishment?

A: This question tells about the purpose of the IPSASB and what are the reasons for its establishment .

Q: What are the overall IFRS and IAS standards' aims and scope?

A: This question tells about the overall IFRS and IAS standards' aims and scope:

Q: What purposes does the systems project proposal serve? How are these evaluated and prioritized? Is…

A:

Q: What is SAVANT Framework and what do you understand about it?

A: SAVANT stands for strategy, anticipation, value-adding, negotiating, and transforming. It was…

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 economic and political environment in which standard setting occurs?

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

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

A:

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 are the main components of DU pont Analysis? Explain.

A: Introduction Dupont analysis Dupont system of analysis is an approach that can be used to analyse…

Q: Explain the concepts and principles which underlie the SMEs standard

A: The concept and principle of sme standard are as follows

Q: What are the scopes of the IPSASs?

A: INTRODUCTION TO IPSASs :  International Public Sector Accounting Standards Board (IPSASB) has…