What are the general jurisdictional rules? Discuss some of the exceptions to these rules.

Q: What are the responsibilities of an originator?

A: The originator's responsibilities are: Originator communicates with all borrowers of mortgage loans…

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: Explain when you would issue a reservation of rights?

A: A reservation of rights is generally issued by insurance companies.

Q: What is Glass-Steagall Act?

A: Glass-Steagall Act splits up the investment and commercial banking segments of an investment bank.

Q: Discuss a case law to explain the above answer

A: Based on the information provided, it is likely that the gains made by Mr. Peter on the sale of the…

Q: Emily needs to report the total amount of money she made at her job last year when filing her taxes.…

A: The W2 is the form that contains the details of the salary that the person draws and the tax that is…

Q: Are there any reasons to question the validity of the CAPM?Explain.

A: In any ‘well-diversified portfolios’ the relationship between the ‘risk’ and the ‘required rate of…

Q: What are the powers of the BIR Commissioner?

A: Powers of BIR commissioner are as follows,  1. He can require additional procedures and documents.…

Q: Explain the difference between substantive and procedural due process.

A: Definition: Managerial accounting: Managerial accounting is the process of identifying, measuring,…

Q: Discuss the scope and penalties of Sarbanes Oxley Act.

A: The Sarbanes Oxley Act or the SOX was brought to force as a response to the substantial increase in…

Q: What is the goal of codification

A: Codification refers to the process of organizing and consolidating laws, rules, or standards into a…

Q: What is discretionary reporting?

A:

Q: Discuss the rules for related party loss limitations.

A: The IRS has define rule regarding the transactions with the related parties and the treatment of…

Q: on based

A: There are three main models of the judicial decision-making that explain how judges come to a…

Q: What exactly are the IPSASs' jurisdictional boundaries?

A: Here Is The Answer :

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: Discuss and identify factors which indicate Non-Compliance with Laws and regulation.?

A: Non-compliance is an act of commission or ommission by the organisation that is not in accordance…

Q: hat are the Sarbanes-Oxley Act and GAAP?

A: In order to reduce the fraud in corporations while recording financial transitions or preparing…

Q: SCENARIO Erik thinks that he paid more in taxes last year than he should have. He wants to compare…

A: Tax is a charge for having excess income over the specified exemption limit. A tax is paid to the…

Q: What is covered by Regulation S–X?

A: Regulation S-X is a U.S. Securities and Exchange Commission rule that covers annual reports from…

Q: Daniel's wife just had a baby and he wants to make sure that the amount of taxes taken out of his…

A: Child Tax Credit:  An amount of  $2,000 per qualifying child( include new baby)  is available for…

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 responsibilities of the PCAOB?

A: Introduction : The public company accounting oversight board is known as PCAOB. To monitor the…

Q: What are some exceptions to UBIT provided by legislation?

A: The question is related to some exceptions to Unrelated Business Income tax .Unrelated business…

Contingent Liabilities and Provisions

A contingent liability can be defined as a liability the occurrence of which is dependent upon the happening of an uncertain future event. It is generally recorded in the books only when the amount of liability can be reasonably estimated and the contingency is likely to occur shortly.