Explain in brief the problems caused by accounting diversity.

Q: Explain the problems associated with inappropriate accounting practices.

A: Fraud: Fraud is a malicious act committed by people to fulfill their personal benefits. In case of…

Q: Explain the difference between conservative and aggressive accounting practices.

A:

Q: Changes in accounting policies are always accounted for as prospective in application. TRUE or…

A: Accounting policies means rules, guidelines and procedures that are used for the preparation of…

Q: Explain mandated changes in accounting principle.

A: Accounting principles are the uniform practices that are followed in the preparation of the…

Q: ation differ

A: Accounting: It is the process of recording any financial transactions incurred in the financial year…

Q: Answer the following: In detail, what's the benefit of accounting harmonization?

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

Q: Discuss why adherence by the accounting profession to a single, GAAP-based view is inappropriate.

A: Accounting Profession: The role of an accountant is to maintain and analyse financial records, which…

Q: Drawing on your background in accounting, can you think of any accounting procedure differences that…

A: Accounting Procedures: It  is the Procedure  followed by companies to  record  day-to-day financial…

Q: What can be understood from the term Accounting diversity?

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

Q: Compare and contrast the different types of accounting regulation that exist.

A: Accounting Regulation: Accounting regulations are being developed to allow investors , managers and…

Q: Discuss agency theory, including its basic assumptions, agency relationships, why the political…

A:

Q: why is uniformity in accounting necessarily implies compariability?

A: Comparability isn't the same as uniformity. Like things must appear alike, and distinct things must…

Q: Support for Politicization of rule making for accounting standards

A: The politicization of accounting rulemaking should not be viewed in a narrow sense. As accounting…

Q: Which of the following arguments is not in favour of entities being required to comply with…

A: Accounting Standards are standard set of rules or practices which must be followed at the time of…

Q: n what ways do accounting firms differ from one another?

A: solution concept accounting firms Accounting firms means a firm established for the purpose of…

Q: what are disadvantages of national or international accounting uniformity?

A: National or International accounting uniformity means same accounting standards and accounting…

Q: Question 2 Considering whether to use historical cost or fair value relates to which of the…

A: Accounting Policies refer to specific accounting principles and methods of applying these principles…

Q: From the following statements which one is not the correct classification of accounting theory

A: Accounting theory is the theory which is actually the set of guidelines, principles or in order…

Q: Explain why arise issues scandal in auditor based public accounting

A: Auditing:   Auditing refers to an independent examination of financial information of any…

Q: nship or differences between Accounting and accountability?

A: Accounting: Every business has various types of transactions like monetary, goods and services. To…

Q: Which of the following is not about harmonization?

A: Answer - . Harmonization is a process of preparing financial statement - Not About Harmonization…

Q: Discuss how a change in accounting policy is handled when it is impracticable to determine previous…

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Q: What is the difference between accounting and business government

A: Accounting: It is the process of recording any financial transactions incurred in the financial year…

Q: What are the two of the qualitative characteristics of accounting information that contribute to its…

A:

Q: Why does The conceptual framework has been described as an “Accounting Constitution”?

A: The conceptual framework sets the boundary within which financial accounting and reporting takes…

Q: Why accounting information elements that may affect by stakeholders

A: Accounting is the process of recording, classifying and summarizing accounting information in such a…

Q: on

A: Yes, cultural influences are likely to have an impact on accounting measurement or disclosure…

Q: According to the convention of consistency Select one: a. Accounting policies and practices once…

A: In accounting, the convention of consistency means that accounting methods once adopted must be…

Q: Why should you as accounting student need to understand normalization

A: Normalization techniques are important because they help in proper storage of data by eliminating…

Q: Historically, what factors contributed to the diversity of accounting systems worldwide?

A: The following are the five major factors that have contributed to the diversity of accounting system…

Q: May you tell me where I can get reliable IFRS relevant to accounting changes

A: This question explains about reliable IFRS relevant to accounting changes

Q: Standardization means eliminating all accounting alternatives to process financial transaction , and…

A: Standardization is the process where all the organizations of a certain industry follow the same…

Q: What is the desired benefit from revising an accounting standard?

A: Financial Accounting Standards Board:   It is commonly known as FASB. It is a private, non-profit…

Q: Describe briefly the following characteristics of useful accounting information.  Comparability…

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

Q: Explain the difference between public and private accounting

A: SOLUTION-   ACCOUNTING  IS THE PROCESS OF RECORDING FINANCIAL TRANSACTIONS PERTAINING TO A BUSINESS.

Q: Choose the correct. Which of the following statements is correct with respect to the IFRS accounting…

A: International Accounting Standards Board (IASB): IASB is the board which frames, develops, approves,…

Q: How does the ethics are important in the accounting?

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

Q: What is the difference between accounting and auditing?

A: