what are the reasons financial accounting standards inspire or encourage political action and involvement dring the standard-setting process?

Q: Reputation of outcomes can play a role in the financial viability of an organization. Can you…

A: The financial growth and development of a corporation is an important objective and goal for a…

Q: What is the Machiavellian approach to decision making?

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: scuss the Financial Accounting Standard Board’s (FASB’s) Conceptual Framework Proj

A: Disclaimer:   “Since you have asked multiple question, we will solve the first question for you. If…

Q: why do managers of governmental and not for non profit organizations need to understand financial…

A: The main difference between government or non-profit entities and profit entities is their purpose.…

Q: How can a broader conceptualization of accounts, accounting and accountability (the 3As), and the…

A: These 3As like Accounts, Accounting and Accountability are three different concept and it must be…

Q: quality of accounting standards?

A: Accounting standards determine thee accounting information must have relevance, must be reliable and…

Q: Why is accounting said to be ‘political’ in nature? How can a conceptual framework help in the…

A: The concept of accounting was developed to record the economic transactions of the business…

Q: Discuss the implications of material errors on financial statements and the potential consequences…

A: An organization's reputation refers to the overall perception, opinion, and evaluation that…

Q: Which of the following is a qualitative characteristic of financial information included in the…

A: Qualitative characteristics are metrics or attributes that are helpful in decision making while…

Q: To what extent are financial reports providing relevant and timely information to stakeholders?…

A: Given: The extent at which the financial provide information to stake holders and its improvements…

Q: What does Financing mean?  What is involved in an organization's finances?  What does financing…

A: The process of obtaining cash or capital for any type of spending is known as finance. The handling…

Q: Is the WACC set by investors or by managers and how (with theoretical concepts)?  Please provide…

A: The Weighted average cost of capital (WACC), which includes common stock, preferred stock, bonds,…

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: What can be defined as sufficiently important to influence decisions made by reasonable users of…

A: The financial statements are the statements that record all the transactions of the company. These…

Q: How do you think accounting standards should be set? Is that the approach currently taken by the…

A: Solution The most feasible way may be to be aware of both the politics of the environment and the…

Q: Explain why establishing accounting standards is characterized as a politicalprocess

A: The standard setting process is a political process that is affected by the impact of several…

Q: Why does the IASB’s Conceptual Framework consider the relevance and faithful representation to be…

A: Accounting concepts are formulated based on assumptions, rules, guidelines, and principles etc.…

Q: What is the difference between a conceptual framework and accounting standards ?

A: Standards: These are defined as the measurement criteria or benchmarks that are established for…