Explain in brief the problems caused by accounting diversity.

Q: Is the agency problem an ethical issue or an Economic issue ?

A: The agency problem is a conflict of interest

Q: Which is not a benefit of computerized accounting system?

A: Computerized accounting system is the one whereby the accounting of the transactions is being done…

Q: What are agency problems?

A: Owners of the company are shareholders. The number of the shareholders for a corporation will be…

Q: What are agency conflicts? What groups can have agency conflicts?

A: Introduction: The problem or conflict of the entity occurs as a result of conflict between two…

Q: Explain Regulatory Provisions?

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

Q: Explain how materiality affectsaudit reporting decisions.

A: American Institute of Certified Public Accountants (AICPA): AICPA is the organization which supports…

Q: Which concept states that accounting information should be complete, neutral, and free from material…

A:

Q: When is nonfinancial information relevant?

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

Q: Evaluate the differences between comparative statement analysis and common size statement analysis

A: Accounting activities involves mainly three such as Identification, recording, communication but…

Q: What are the relative merits of input from source documents and direct input?

A: Definition: Direct input: The data that are directly inserted into the system from the source data…

Q: A principle that is concerned with information that should be significant enough to affect…

A: Accounting Principles: These are the methods, guidelines, and rules that shall be followed by the…

Q: Define agency conflict

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

Q: When does an agency problem happen?

A: Agency problem is the probelm of difference in opinion of management and the shareholders.

Q: What is the difference between the Codification and the Codification Research System?

A: FASB: The FASB is an independent, designated and non-profit organization established by SEC for…

Q: What are potiental constaints/Risks when dealing in Tri Party Account Reconciliation and Process…

A: Tri Party Account Tri Party Account which is deal with the platform to outsource to the collateral…

Q: What are the disadvantages and advantages of Analysis at the account level technique

A: Analysis at the account level: It is the method of accounting where the financial transaction's…

Q: Discuss the objectives of eliminating receiving functions. Also, discuss the accounting and audit…

A: Step 1 When shipments of goods arrived at the warehouse to replenish stocked inventory, then the…

Q: Explain Change in Reporting Entity.

A: A reporting entity is an entity whose general-purpose financial report is used by its users to have…

Q: what is intermedita accounting? explain further in your own words

A: Intermediate accounting is the second level of accounting education, following financial accounting.…

Q: Define agency cost or problem

A: Agency problem is that problem which is a conflict of interest in a relationship where one side…

Q: 40. The following selected data were taken from the records of Na Pobre Trading, a business owned by…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: Discuss the objective of eliminating the receiving function.What accounting/audit problems need to…

A: Auditing is the process of ensuring that an entity's financial records are correct and fairly…

Q: How can agency problems be resolved.

A: A principal is one who hires an agent to perform some of his duties. Hence, it is the responsibility…