Which of the following statements is NOT a driver behind the development of Integrated Reporting ?Select one:а.Users are disappointed with the lengthy and disconnected information provided in financial reports.O b. Lack of connectivity between financial reporting and tax reporting.c. Release of ASX Corporate Governance Recommendation in 2019 that listed entity disclose whether it has any material exposure toenvironmental or social risks.d. The growing gap between book value and market value.

Answer: Option (d) is correct option The growing gap between book value and market value

Answered: Which of the following statements is…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Evaluate the following statements from an ethical perspective:“Earnings management in a narrow sense is the behavior of management to play with the discretionary accrual component to determine high or low earnings.”“Earnings are potentially managed, because financial accounting standards still provide alternative methods.”
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How can the enhancing characteristic comparability (consistency) be improved in high-quality accounting information? Do not simply repeat what it is, provide suggestions as to how a particular part of the enhancing characteristic could be improved. Please provide different answers and explanations than copy and pasting: “Accounting information is comparable, if -it is with consistent accounting standards and policies applied throughout each accounting period, enables users to draw insightful conclusions about the trends and performance of the company over time.”
Answer the following question and provide detail examples to support your answer. Analyze and make an assessment of the International Accounting Standard Board's (ASB) Conceptual framework 2018 by highlighting its strength and flaws. Afterward, state how would improve it in order to further enhance the relevance and reliability of financial reporting. 2. a) Define the concept of research methodology in the context of accounting theory. Discuss the consequences of choosing an incorrect research methodology in accounting research, highlighting the strengths and limitations of quantitative and qualitative approaches to accounting research. b) Evaluate the role of accounting theories in guiding research in the field of accounting. Discuss how different accounting theories, such as agency theory, positive accounting theory, and institutional theory, influence research questions, hypotheses formulation, and empirical analysis are from each other, highlighting their strengths and…
(Do not provide AI Content otherwise i will dislike) What is a primary focus of performance measurement in public sector accounting? a) Maximizing shareholder wealth b) Achieving profitability c) Enhancing service delivery and accountability d) Minimizing tax liabilities
On March 1, 20x1 Lizza Corporation issued 100,000 ordinary shares of P1 par for P5 per share when it began operations. It issued additional 50,000 shares in 20x2 for P10 per share. In 20x4, Lizza Corporation acquired 3,000 ordinary shares of its P1 par value at P35 per share. During the year, Lizza re-issued 1,500 shares at P50 and 1,000 shares at P25. 1. How much is the Treasury stock at the end of 20x4? 2. How much is the Share Premium Treasury Stock at the end of 20x4? 3. Compute for the number of outstanding shares at the end of 20x4?
Which of the following is correct criticism on the positive accounting theory? O a. It gives prescriptions for accounting practice of the company. O b. It misleads the stock market by manipulating the earnings. O c Its earnings numbers prepared according to a single basis. O d. It says something about good or bad accounting policy of the company.
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Critically evaluate if the development in financial reporting today has successfully curb the potentials of corporations to mislead stakeholders in their financial statement presentations
In recent years, globalization of business and factors such as technological disruption, tax reform, trade policies, and changing demographics in the workforce cause uncertainty and volatility in stock and bond markets. Why might it be important for you to consider current economic and other events as part of planning an audit? (Select all that apply.) Question content area bottom Part 1 A. Profitability, internal controls, and incentives and opportunities to misreport can all change rapidly in the current environment, making it imperative that the auditor understand these factors in addition to the client's industry and operating environment. To develop effective audit plans, auditors must have the expertise to assess external environment risks. B. Volatility in stock and bond markets can create uncertainty about the future profitability of certain industries and/or specific companies. This could ultimately affect the entity's ability to…
Which of the following is not correct about Going Concern? a. The concept of going concern is an underlying assumption in the preparation of financial statements O b. The financial statements presume that the entity is a going concern and will continue its operations for the foreseeable future O C. Assume that the business will continue to operate long enough to carry out its current obligations, objectives and commitments O d. The concept of going concern is a conservative in the preparation of financial statements

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