The FASB’s conceptual framework sets forth the Board’s views on which topics?

Q: What is the nomination process of the Board members and how many board members have been selected?

A: Board members  are nominating by a nominating committee, but board member can also nominated by…

Q: 6) Which pronouncements have the highest level of authority for state and local governments? A)…

A: GASB statements means Governmental Accounting Standards Board Statements. These statements are…

Q: What the main functions of the Commerce Commission? Please explain and illustrate each function.

A: Commerce commission is the agency of government with the responsibility for imposing legislation…

Q: What are Institutional Review Boards and how do they work

A: INSTITUTION REVIEW BOARDS: It is also known as an "Independent ethics committee, ethical review…

Q: Which of the following “bodies designated by Council” have been authorized to promulgategeneral…

A:

Q: Which of the following statements is true? a. Both the SEC and the PCAOB require the use of the COSO…

A: Committee of Sponsoring Organization (COSO):  Committee of Sponsoring Organizations (COSO) is a…

Q: Board composition in comporate governance

A: The question is based on the concept of the concept corporate governance and its management in a…

Q: What provisions of the AICPA Council Resolution on form of organization place control of…

A:

Q: Which one of the following would not be an advantage of adopting IFRS?   Select one alternative…

A: Solution IFRS                 IFRS refers to the international financial reporting standards…

Q: what you consider as effective board pract

A: We consider Effective Board practices as;         A diverse board of directors with diverse members…

Q: The accountability instrument refers to the answer choices as below, except         A. fiskal…

A: Accountability includes accepting responsibility for one's own actions. It imply a desire to be open…

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: Discuss how the performance and effectiveness of the board can be assessed.

A: As the performance of each employee in the organization is evaluated and analyzed time to time, it…

Q: When developing requirements for IFRS Standards, can the International Accounting Standards Board…

A: SOLUTION- INTERNATIONAL ACCOUNTING STANDARD BOARD-  IT IS AN INDEPENDENT , PRIVATE SECTOR BODY THAT…

Q: Describe the FASB–IASB convergence process and SEC recognition of IFRS.

A: IASB: International Accounting Standards Board is abbreviated as IASB.  IASB is the organization…

Q: Answer of the following question related to these characteristics and constraints. Donald Kirk,…

A: Accounting assumption: These are the accounting practices or principles which are considered to be…

Q: Governance issues include the following except; Select one: a. Disclosure and transparency b. Role…

A: The term Governance refers to process which is designed to ensure the following quality in the…

Q: how we share our findings and concerns with the board of directors in internal control system?

A: Management is in-charge of the establishment and maintenance of the internal audit function. An…

Q: we discussed the role of an active board of 'directors' audit committee from different aspects. In…

A: The primary function of the audit committee of the company is to provide oversight of the financial…

Q: What benefits are derived from including the management’s discussion and analysis in state and local…

A: GASB: The GASB is the board that provides the guideline to the governmental units about proper…

Q: scribe the reporting of Board Designated resources.

A: Board-designated funds refer to those funds or assets which are restrictions free from the donor's…

Q: Describe the mission of the IASB.

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

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

A:

Q: What measures does the governance board can put into place to establish ethical expectations.

A: Corporate governance is established by an organization where rules are set to operate and regulate…

Q: Who is the current chairman of the IASB?

A: The IASB is an independent accounting standard-setting body, based in London. It consists of 15…

Q: The IASB has how many board members?

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

Q: Which of the following is the first step within hierarchy of guidance to which management refers,…

A: SOLUTION- ACCOUNTING POLICIES ARE THE SPECIFIC PRINCIPLES AND PROCEDURES IMPLEMENTED BY A COMPANY'S…

Q: Who are the sponsoring organizations of COSO, and what is COSO best known for doing?

A: Definition:

Q: What does the management’s discussion and analysis (MD&A) normally include? Where does a…

A: Management Discussion and Analysis (MD&A):   Management Discussion and Analysis (MD&A) is…

Q: Locate and describe the primary policy-making organizations and their involvement in the development…

A: This question about explains the primary policy-making organizations and their involvement in the…

Q: What is the difference between the terms of the definition and the terms of recognition in the…

A: The purpose of the conceptual framework is to assist the IASB in preparing and revising the…

Q: The existence of significant influence by an investor is usually evidenced in one or more of the…

A: SOLUTION- EXPLANATION- THE EXISTENCE OF SIGNIFICANT INFLUENCE BY AN INVESTOR USUALLY EVIDENCED IN…

Q: Discuss the common goal that IASB, FASB and other regional accounting bodies intend to achieve by…

A: A conceptual frame work is defined as the systematic formation of ideas and objectives leading to…

Q: What rule/procedure must be observed so that formal meetings like that of the Board of Directors or…

A: Here given the details of the rules and procedures which are involved to arrange the meeting…

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: hat are the requirements for government- wide statements on CAFR?

A: Step 1 Governmental financial statements are comply with governmental accounting standards and…