What is the standard-setting body responsible for determining IFRS? How does it obtain its funding?

Q: Who created the International Auditing Standards?

A:

Q: Describe the purpose of the AICPA. What is the AICPA’s primary function?

A: The American Institute of CPA (AICPA) is a non-profit organization of Certified Public Accountants…

Q: What guidance does the Codification provide concerning the disclosure of research and development…

A: Research and development (R&D) incorporate activities that are taken up by an organization to…

Q: What are the IFRS and IAS standards trying to accomplish, and how broad is their scope?

A: In the era of globalization, businesses around the world work together. Investors have more…

Q: Describe the mission of the FASB.

A: Financial Accounting Standards Board (FASB): FASB is an independent 7 member board, of accounting…

Q: What is create a more consolidated regulatory structure?

A: The question is based on the concept of financial regulatory structure of the country. Financial…

Q: mechanism ensure that funds have been properly allocated and spent

A: Proper Allocation of Funds: Proper allocation of fund is very important for the effective and…

Q: practices support the pillar of Transparency?

A: transparency, inspection, adaptation. Firstly let us understand about the transparency-…

Q: Discuss the importance of monitoring and reporting on the institution's compliance with its ALM…

A: Answer  Assets Liability Management(ALM) - is used for manage financial Risk as a result of mismatch…

Q: How are IFRS and the codification related? Do you feel that IFRS adoption could happen without…

A: The question is related to International Financial Reporting Standards (IFRS) and Codification. The…

Q: Who is normally responsible for the authorization of investment activities? Why is the authorization…

A: Investment Decisions: Decisions undertaken by a management to determine where the company resources…

Q: What is a special assessment project? How are special assessment projects reported?

A: Special assessment project: The special assessment project refers to the projects which are…

Q: For what purpose is the report used? What improvement could be made in this report based upon the…

A: Gross profit refers to Sales less all direct costs involved in production of the products or…

Q: What are the different ways a country might use IFRS?

A: International Financial Reporting Standards refers to the accounting standards which is issued by…

Q: What are the similarities and differences (if any) between the IPSASs and the IASs/IFRSs?

A: The international public sector accounting standard board (IPSASB) seems to be an unbiased…

Q: a.What is the IPSASB and reason(s) it was established?  b.What are the objectives of the IPSASB?

A: Accounting standard refers to the common set of rules, regulations, principles, and procedures that…

Q: Which came first, comparability or uniformity? Why? Please explain your position in detail. What…

A: The principles, procedures or rules that forms the basis for the preparation of the financial…

Q: Why was the Sarbanes-Oxley Act developed and enacted?

A: Introduction:- The Sarbanes–Oxley Act of 2002 is a federal law in the United States that sets…

Q: What forms of protection and regulation do regulators of FI's impose to ensure their safety and…

A: The financial institutions should regulate the economy in an efficient manner. The financial…

Q: The FHA implements its programs with which of the following procedures?

A: FHA has been successful in stabilizing the national housing market. It was created under the federal…

Q: What are the requirements for an instrument to be negotiable?

A: Introduction: The following are the formal requirements that an instrument must meet to be…

Q: For whom were IAASB International Auditing Standards created?

A: IAASB International Auditing standards (ISA) were introduced for the setting an international…

Q: What is the audit committee’s contribution to strategy?

A: An audit committee is a committee which looks after, directs and guides for the financial process,…

Q: What is Discretionary Spending;

A: The items which are used for entertainment and for recreation which the consumers generally purchase…

Q: Describe the mission of the IASB.

A: The International Accounting Standards Board (IASB) is an independent, private-sector body that…

Q: statements related to the NYSE is correct

A: NYSE is the New York Stock Exchange.

Q: Was the conceptual framework created to achieve a specific goal

A: The conceptual framework created to achieve a specific goal will be explained :

Q: What is pooling of interests and when can it be used?

A: Pooling of interest is an accounting method by which the consolidated entry of assets and…

Q: Who would be the stakeholders concerned in the case study?

A: A stakeholder is a party with an interest in a corporation who has the potential to influence or be…

Q: Explain the Planning and Permitting Process?

A: A set of rules that are being made for the management of the complex systems by setting appropriate…

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: What does the EMH imply for the use of technical and fundamental analysis?

A: The efficient market hypothesis (EMH), as a substitute called the efficient market theory. It is a…