a(ii) What are differences between Financial Services Act (FSA) 2013 and Islamic Financial Services Act (IFSA) 2013.

Q: What are the reasons in support of financial reporting regulation

A: Financial reporting (sometimes known as accounting) is the process of recording and disclosing…

Q: U.S. GAAP accounting different from

A: International Financial reporting standards: IFRS can be defined as set of accounting standards used…

Q: What is the requirement on Federal Truth-in-Lending (FTL)?

A: Following are the requirements of Federal Truth-in-Lending (FTL):   The financial data: The plan of…

Q: Self-regulation, regulation by the government and regulation by a governmental agency are three…

A: Financial Regulation refers to the rules and regulations by which financial bodies operate in the…

Q: Give 1 current issues of Islamic financial services act 2013.

A: The Islamic Financial Services Act 2013 is a Malaysian law to regulate functions of the Islamic…

Q: on law countries accounting focuses on economic substance and the standards and procedures are…

A: the correct answer is FALSE .   IN LAW COUNTRIES . ACCOUNTING IS WORKING ON THE BASIS OF ACCOUNTING…

Q: TRUE OR FALSE 1. PFRS 4 SUPERSEDES PFRS17 2.PFRS 17 APPLIES TO REINSURANCE CONTRACTS3.INCOME SERVICE…

A: As per the honor code, we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit…

Q: What is agency promblem in financial terms?

A: Agency problem is the conflict arises in the interest inherent in any relationship, in which one…

Q: In what ways/How can making accounting standards compulsory cause problems in financial presentation…

A: Financial Statements under IAS 1 The basic standards for financial statements are outlined in…

Q: Which factor explaining why accounting practices differ across countries do you think is most…

A: Seven factors for difference in accounting practices across countries 1.Legal system (a) Common law…

Q: what are disadvantages of national or international accounting uniformity?

A: National or International accounting uniformity means same accounting standards and accounting…

Q: Which of the following reason(s) help explain why accounting practices may differ across countries?…

A: International Financial Reporting Standards:- IFRS are set of standards that are developed by the…

Q: Which of the following entity is involved in regulating the financial sector Ⓒa PFRDA Ob. SEBI OC…

A: The financial sector is a sector that is responsible for providing financial services to the…

Q: Explain and analyze the effect of differences between IFRS and U.S. GAAP related to the financial…

A: In the United States, financial reporting practices are prescribed by Financial Accounting Standards…

Q: Government places controls on the personal financial environment by use of Group of answer choices…

A: The personal financial environment refers to the part of finance that includes the investing and…

Q: In common law countries accounting focuses on economic substance and the standards and procedures…

A: Common law is defined as the laws that are in unwritten form grounded on the legal precedents that…

Q: Please explain and analyze the effect of major differences between IFRS and U.S. GAAP related to the…

A: A group of accounting standards called International Financial Reporting Standards (IFRS) specify…

Q: Which of the following is an exception for application of IFRS 15? Oa. Insurance contracts. O b.…

A: Following are some exclusions from IFRS 15: Leases (IAS 17 or IFRS 16) Financial instruments and…

Q: Does financial reporting play a different function in the IASB and FASB conceptual frameworks? Exp

A: To design the Generally Accepted Accounting Principles (GAAP), the Financial Accounting Standards…

Q: Difference between Financial Accounting Standards Board and International Accounting Standards…

A: The Financial Accounting Standards Board was established to create reporting guidelines. It is one…

Q: Islamic accounting different from conventional accounting

A: Conventional accounting is the traditional method of recording accounting transactions. It gives the…

Q: What is the applicable financial reporting framework in the U.S. known as? a. The Internal Revenue…

A: Accounting standards: It refers to the rules and policies for financial reporting.

Q: A) Identify the three most important users of the financial reporting for Islamic financial…

A: To-determine:- Basic concept of Islamic accounting Financial accounting assumes a significant job in…

Q: 38 Which of the following is NOT the agency under Ministry of Finance (MOF)?   Select one: Inland…

A: Federal agencies under the Ministry of Finance (MOF), Malaysia include Inland Revenue Board of…

Q: What are some of the reasons in support of financial reporting regulations?

A: Introduction: Financial reporting: Financial reporting is the process by which information derived…

Q: Identify and explain the difference between the two systems of regulation, stating clearly which…

A: “Since you have posted a question with multiple questions, we will solve the first question. To get…

Q: iscuss similarities and differences between the accounting treatment for U.S. GAAP and IFRS

A: