How do the responsibilities of private accountantsand public accountants differ?

Q: What are some ways a board can train their employees to be effective in its financial decision…

A: It is important that employees view the goal of the company in the same way as the board would view…

Q: How does the accountant's focus on the commercial goals as a priority affect the performance of his…

A: Accountants are the professionals which have the specialized degree to prepare accounts of the…

Q: At which entities do Corporate income overlap with Individual income taxation and in which states?

A: One of the goals of tax reform is to enhance the fight of U.S. businesses and grow the economy. A…

Q: What must an accountant have under the AICPA Code of Professional Conduct?

A: Introduction AICPA -  American Institute of Certified Public Accountants, is a professional…

Q: What are the ethical and professional expectations for CPA's by the accounting prefession?

A: Auditors work on behalf of shareholders and various other stakeholders; whereas, they are required…

Q: Differentiate accounting for government and not-for-profit organization from a business enterprise.

A: Business enterprises are those organisation which run and execute their business for the purpose of…

Q: What is the “special function” that auditors perform? Whom does the public accounting profession…

A: Auditing:   It is an independent examination of the financial information of an organization to test…

Q: How may an accounting firm affect non-tax professionals' perceptions of a disputed topic with a…

A: Introduction: At the organizational level, ethical leaders foster trust through their behaviors and…

Q: Is the principles for recognizing revenue the same in government accounting and accounting for…

A: Revenue is the economic inflows of benefit in the form of increasing assets or decreasing…

Q: How do business owners determine their taxable income from their business ventures? How does this…

A: The given answer for the above mentioned question is given in the following steps for your…

Q: 4.What are the major functions or activities performed by accountants in private industry

A: Private industry refers to a entity which is profit oriented and being operated by non state…

Q: Setting accounting standards by the private sector is

A: The common law is developed on the basis of the particular case. It represents the development of…

Q: hat is the difference between internal corporate governance to external corporate governance in…

A: Internal corporate governance: Internal corporate governance controls monitor activities and then…

Q: What is the meaning of Chief accountant of the SEC?

A: Securities Exchange Commission (SEC): This is the government agency that governs the working of…

Q: State the differences between private sector and public sector accounting.

A: Private Sector The private sector refers to: organizations that are not government-owned, and the…

Q: What is the difference between a public and a private corporation? Provide an example of each.

A:

Q: What are some aspects of business that require knowledge of taxation? What are some aspects of…

A: ●What are some aspects of business that require knowledge of taxation? What are some aspects of…

Q: Are accountants and auditors moral agents of corporations and society? Explain.

A: Moral responsibility means a liability of an individual to perform tasks in a moral or ethical…

Q: Can you think of any reasons why the SEC relies on private sector bodies to set accounting…

A: Securities and Exchange Commission (SEC): SEC was created under the Securities Act of 1933 and…

Q: What type of organization primarily offers tax compliance auditing and consulting service A.…

A: It’s a business that provides accounting expertise, such as auditing and tax services, to…

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: Which of the following statements about desirable attributes of accounting standards boards is most…

A: Accounting standards boards should not concede to political pressures because then it will not be…

Q: Distinguish between government and not-for-profit organizations from business entities and describe…

A: Business entities are described as those units which are formulated to provide professional…

Q: How might an accounting firm influence whether non–tax practitioners view a contentious issue with a…

A:

Q: What are the responsibilities of the Board of Directors for the financial statements? Or…

A: Financial statements are important because they provide vital information related to the financial…

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: How should an accounting professional go about determining whether a proposed action is in the…

A:

Q: Explain in brief the problems caused by accounting diversity.

A: Accounting diversity refers to differences in accounting practices followed across different…

Q: Why is it important for U.S. accountants to be familiar with IFRS?

A:

Q: Explain why establishing accounting standards is characterized as a politicalprocess

A: The standard setting process is a political process that is affected by the impact of several…

Q: What type of organization primarily offers tax compliance, auditing, and consulting services?A.…

A: There are various forms of business organisation. These are sole proprietorship, partnership and…

Q: Differentiate Private from Public Accountants?

A: Accountants are the professionals that are engaged in the work related to accounting and taxation of…

Q: What type of organization primarily offers tax compliance, auditing, and consulting services?…

A: corporations - The Main business of corporations are sale of goods and services with Profit Motive…

Q: What is the impact of being registered with the Public Company Accounting Oversight Board?

A: The Public Company Accounting Oversight Board (PCAOB) refers to a non-profit organization that was…

Q: Setting accounting standards by the private sector is Select one: a. Independent discipline approach…

A: Accounting standards refer to the rules, policies, and practices used or followed to record…

Q: Who should set accounting standards? A government agency or private body such as the FASB?

A: Accounting standards are the rules and provisions that guide the manner in which accounting reports…

Q: What issue does agency theory examine? Why is it important in a public corporation rather than in a…

A: Agency theory states the fiduciary duty of management towards the shareholders. The duty is to…

Q: What are the two particular business structures have evolved in response to liability issues and tax…

A: In response to the issue of liability and tax treatments the two business structures that were…

Q: Distinguish between not-for-profit and for-profit corporations.

A: Corporation: A business concern where there is a separate legal entity, and are owned by…