Support for Politicization of rule making for accounting standards

Q: Discuss the primary differences between U.S. GAAP and IFRS with respect to the  development of…

A: U.S. GAAP    The Generally Accepted Accounting Principles in the US (US GAAP) refer to the…

Q: auditors’ independence

A: Independence is a professional quality to be maintained by the auditors while undertaking the…

Q: Describe rules-based accounting standards.

A: Financial accounting is the process of recording, summarizing, and reporting all the transactions in…

Q: Briefly discuss the difference between (A) a “rules-based" approach to accounting standard setting…

A: Rules-based accounting: Rules-based accounting is based on a set of detailed rules that the…

Q: distinguish between conservative and aggressive accounting;

A: Accounting is the process through which financial statement are recorded, analyzed, summarized and…

Q: Evaluate the strengths and weaknesses of interpretive accounting theory

A: Interpretive Accounting theory:-Interpretive Accounting theory has evolved and made significant…

Q: 1. In your opinion, which competency is most important in accounting, knowledge and intellectual or…

A: Accounting In a simple word the meaning of accounting which describes as recording, collecting and…

Q: Critically comment on Positive Accounting Theory (PAT) (

A: Accounting is a process that involves the recording of the transactions of financial nature.

Q: Generally Accepted Accounting Principles

A: Generally accepted accounting principles (GAAP) seek advice from a standard set of accounting…

Q: Explain the purpose of Generally Accepted Accounting Principles (GAAP), including the organization…

A: Generally Accepted Accounting Principles:   GAAP (Generally Accepted Accounting Principles) is a…

Q: Distinguish between Opinions of the Accounting Principle Board and Accounting Standards Updates.

A:

Q: Advantages and Disadvantages of Harmonization of Accounting Standards

A: The process of raising the level of agreement among countries in accounting standards and practices…

Q: standard setting process for Generally Accepted Accounting Principles, including the standard…

A:

Q: Which of the following characteristics must exist for accounting information to be useful in making…

A: Definition:

Q: discuss the importance of accounting interdependence in accounting information systems.

A: An Accounting Information System is a system that is used  to collect, process, manage data with…

Q: Explain why arise issues scandal in auditor based public accounting

A: Auditing:   Auditing refers to an independent examination of financial information of any…

Q: Which of the following is most closely linked to accounting conservatism? Lower-of-cost-or-market…

A: Answer:

Q: nship or differences between Accounting and accountability?

A: Accounting: Every business has various types of transactions like monetary, goods and services. To…

Q: What are the primary advantages of having a Codification of generally accepted accounting…

A: Generally Accepted Accounting Principles (GAAP): Generally Accepted Accounting Principles are the…

Q: are the two fundamental qualities that make accounting information useful for decision making. a.…

A: solution concept Relevance means the information that are relevant for the users of the financial…

Q: Discuss the assumptions underlying accounting measurement and explain their significance.

A: Accounting can be defined as the process of measuring the monetary business transaction for the…

Q: Why does The conceptual framework has been described as an “Accounting Constitution”?

A: The conceptual framework sets the boundary within which financial accounting and reporting takes…

Q: Explain in brief the problems caused by accounting diversity.

A: Accounting diversity refers to differences in accounting practices followed across different…

Q: Why accounting information elements that may affect by stakeholders

A: Accounting is the process of recording, classifying and summarizing accounting information in such a…

Q: Discuss about the accounting policies, selection, relevance, reliability, faithful representation…

A: Accounting policies are specific principle procedures and measures that are used to record,…

Q: What does the conceptual framework intend to establish? a. the objectives and cocepts foruse in…

A: Accounting framework defines the rules and framework which depicts the rules, standards that were…

Q: on

A: Yes, cultural influences are likely to have an impact on accounting measurement or disclosure…

Q: Describe the recognition, measurement, and disclosure concepts that guide accounting practice.

A: Accounting concepts are referred to the basic assumptions, principle and rules which guides the…

Q: Reccomendation

A: Ans. The major environmental factors that effects accounting system are : i. The economic…

Q: According to the convention of consistency Select one: a. Accounting policies and practices once…

A: In accounting, the convention of consistency means that accounting methods once adopted must be…

Q: Which of the following is the first step within hierarchy of guidance to which management refers,…

A: SOLUTION- ACCOUNTING POLICIES ARE THE SPECIFIC PRINCIPLES AND PROCEDURES IMPLEMENTED BY A COMPANY'S…

Q: Briefly explain the following generally accepted accounting principles with examples. a)…

A: a) Conservatism Principle DEFINATION: The accounting principle that only concerns about the…

Q: What factors create a need for assurance services? Explain how these factors are important to the…

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

Q: w accounting standards in

A: the financial statements of a company are expected to present a true and fair view on the financial…

Q: Discuss Practical Implementations of any one generally accepted accounting Principle (GAAP),…

A: Generally Accepted Accounting Principles are used in preparing account of an entity. The purpose of…

Q: Which of the following are important factors in ensuringthe integrity of accounting information?a.…

A: Certified Public Accountant (CPA): CPA is the accountant who is certified and licensed to examine…

Q: s that influence the adoption of computarised ac

A: Using computerized accounting systems, you may set up revenue and expenditure accounts for things…

Q: Which of the following are important factors in ensuringthe integrity of accounting information?a.…

A: Probity of financial accounting information is quite significant as a number of users rely on such…

Q: Describe briefly the following characteristics of useful accounting information.  Comparability…

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

Q: Discuss the difference between the Management Letter and the Legal Representation Letter

A: Audit is conducted by auditor in which auditor assures (or denies) that the financial statements of…

Q: What is the difference between accounting and auditing?

A: