s According to the FASB's Conceptual Framework, who are the primary users of external financial reports? Select one: a. Managers b. Existing and potential investors c. Bankers and hedge fund managers d. Accountingprofessors

External financial reporting: A business practice known as "external financial reporting" entails…

Answered: According to the FASB's Conceptual…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter1: Accounting As A Tool For Managers

Section: Chapter Questions

Problem 4EA: Discuss what information would be most useful for these users of accounting information: Management...

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Similar questions

Which of the following use financial statement data to make decisions? a. customers c. suppliers b. investors d. all of these
These are used by the FASB, and it is a set of concepts that guide financial reporting. A. Financial Accounting Standards Board (FASB) B. generally accepted accounting principles (GAAP) C. Securities and Exchange Commission (SEC) D. conceptual framework
Discuss what information would be most useful for these users of accounting information: Management Employees Investors Creditors Customers Tax authorities
The metrics based on financial numbers produced by the accounting system are ________. A. quantitative factors B. qualitative factors C. stakeholders D. stockholders
The standards, procedures, and principles companies must follow when preparing their financial statements are known as which of the following? A. Financial Accounting Standards Board (FASB) B. generally accepted accounting principles (GAAP) C. Securities and Exchange Commission (SEC) D. conceptual framework
Under the Conceptual Framework of Financial Reporting, users of financial information may be classified into? Heavy users (management) and slight users (public, government). Primary users (existing and potential investors and creditors) and other users. Internal users (employees, customers) and external users (investors, creditors). Main users (existing investors, creditors) and incidental users (potential investors, creditors)
According to Conceptual Framework, what is the primary objective of financial reporting? Select one: Provide information about those investing in the entity Provide information that is useful to management Provide information that is useful to those making investing and credit decisions All of these answer choices are correct
State how financial statement can facilitate sound financial analyst. Provide a concrete example.
Disclosure notes are an integral part of the information provided in financial statements. In what ways are thenotes critical to understanding the financial statements and to evaluating the firm’s performance and financialhealth?
Explain the usefulness of Financial statement information to the following stakeholders: Financial Analysts Employee Debtors Government Agency
Which of the following is a qualitative characteristic of financial information included in the IASB’S Conceptual framework for financial reporting? a. Relevance b. Fair presentation c. Consistency d. Accruals
Which of the following would be part of a financial manager's investment decision? *a. Collecting receivables from customersb. Paying loansc. Allocating funds for permanent current assetsd. Paying dividends to shareholders

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According to the FASB's Conceptual Framework, who are the primary users of external financial reports? Select one: a. Managers b. Existing and potential investors c. Bankers and hedge fund managers d. Accounting professors