What is interim reporting?

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: When is nonfinancial information relevant?

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

Q: What does the disclosure principle require?

A:

Q: Define the term End-of-Period Convention?

A: Cash flows refer to the amount of cash that is either invested or received by the company during the…

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: Use of CAATs?

A: Computer Assisted Audit Techniques or CAATs can be characterized as an auditing strategy that…

Q: What are Subsequent Events and what do they require?

A: Auditing:   It is a systematic verification of the books of accounts of an organization by an…

Q: When is a GAAP departure appropriate?

A: Definition:   Generally Accepted Accounting Principles (GAAP): These are the guidelines necessary to…

Q: What is EBITDA?

A: EBITDA is a metric which is used to measure the company's profitability. Though there is no legal…

Q: ORANGE Company and its divisions are engaged solely in manufacturing. The following data pertain to…

A: IFRS 8 Operating Segments requires particular class of entities to disclose information about their…

Q: What is ESG reporting and why does it matter?

A: Transparency on ecological and socially responsible actions is becoming more popular. Environmental,…

Q: what is a validity check?

A:

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 a MIS report, why is it  prepared?

A: MIS is Management Information System. Management information system is an integrated collection of…

Q: Methods and rules to be followed in case of reconstitution?

A: Solution- It is often noticed that a partnership firm undergoes restructuring. These changes are…

Q: What are the requirements for a prior period adjustment?

A: Prior period adjustment: A prior period adjustment is the result of a material error discovered in…

Q: What are the responsibilities of the PCAOB?

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