What is the full disclosure principle?

Q: What are the threats to independence?

A: Given below are the seven threats to auditor’s independence:   Self-review threat: It occurs when…

Q: What is insiders?

A: An insider is a member of an organization who has unlimited and privileged access to the information…

Q: Explain how materiality affectsaudit reporting decisions.

A: American Institute of Certified Public Accountants (AICPA): AICPA is the organization which supports…

Q: What is partial public offering?

A: Public offering is sale of shares to the general public. The company issue shares and raise through…

Q: What is confidentiality? Give an example showing a violation of confidentiality.

A: Confidentiality is one of code of ethics for Auditor.

Q: What is the function of the optional delivery commitment?

A: Delivery Option:It allows to switch a short position to a different grade or quality for a standard…

Q: Discuss the three elements of 'privacy'?

A: The Answer :

Q: What is a standby commitment? When and why is it used?

A: A formal contract between a borrower and bank, that the bank will lend a certain amount to him/her…

Q: Describe about the full disclosure principle. Also tell the different ways in which information is…

A: Full disclosure principle: According to the principle of full disclosure, all the events occurred in…

Q: What is a seal of assurance?

A:

Q: What can be understood from Integrated disclosure system.

A: Integrated disclosure system: It is an update in the security exchange commission’s guidelines to…

Q: What is the guiding objective is that lessees and lessors provide disclosures?

A: Lease: Lease is a contractual agreement whereby the right to use an asset for a particular period of…

Q: Explain in detail Full disclosure principle with example.

A: The full disclosure concept or norm is an idea that allows a company to disclose all basic facts…

Q: Review the full disclosure principle and describe how it is implemented

A: While preparing the financial statements of company, some genera rules & guidelines have to be…

Q: What are threats and safeguards to independence?

A: American Institute of Certified Public Accountants (AICPA):   It is an association of certified…

Q: Define Full-disclosure principle.

A: Accounting:   It refers to the process of recording the transactions of the business in a systematic…

Q: Can you tell me the difference between confidentiality and privacy? Explain

A: This question tells about the difference between confidentiality and privacy:

Q: What is privacy in the context of information security? Is perception of privacy the same for all…

A: In the context of information security, what exactly is privacy? Is there a difference in the sense…

Q: When may a covered member disclose confidential information?

A: A covered member may disclose confidential information when client is not following GAAP.

Q: What are the Safeguards to independence?

A:

Q: When is independence required?

A:

Q: what is the advantages and disadvantage of disclosure? and why is disclosure important?

A: The full disclosure means that company's financial statements should tell about all the important…

Q: What is the Rights Issue?

A: The Rights issue is the issue of a definite proportion of Shares to the existing shareholders of the…

Q: What is liability

A: Financial accounting includes recording, collecting, summarizing and interpreting the financial data…

Q: Explain the concept of adequate disclosure.

A: Definition: Adequate Disclosures: In accounting, there is a need for adequate disclosures as these…

Q: What are the key points of the ‘‘Issuer and Management Disclosure’’ of the Sarbanes-Oxley Act?

A:

Q: How is the term "confidentiality" different from "privacy"? Explain.

A: Answer: The terms Confidentiality and Privacy are different terms. Privacy is all about person and…

Q: In addition to EPS numbers themselves, what additional disclosures should be provided concerning the…

A: Earning per share (EPS) refers to the measure of earnings that are available to each share in a…

Q: What is accountability

A: The transactions that are happened in the company will be analyzed, and recorded in the first book…

Q: Describe required fair value disclosures.

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: What major types of items are reported in the retainedearnings statement?

A:

Q: Describe the term certificate of compliance?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

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: Explain the Nonrecourse clause?

A: A sum of money that an individual or company owes is called liability. It is an obligation between…

Q: What is the purpose of the IPSASB and what are the reasons for its establishment?

A: This question tells about the purpose of the IPSASB and what are the reasons for its establishment .

Q: What documents constitute the AP packet? Whatevidence does each document provide?

A: An organization should record a liability in its books of accounts based on the invoice amount after…

Q: What is covered by Regulation S–K?

A: Securities and Exchange Commission (SEC):   The board which set rules for the companies for…

Q: Which of the five disclosures is most informative? Which is least informative? Why?

A: Full disclosure: Full disclosure is an accounting principle which states that all the necessary…

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 is disclosure? Write down about disclosure notes.

A: Disclosure means disclose the information properly for the users. Disclosure should be complete and…