What are the advantages of regulation of financial reporting?

Q: Identify the correct statement in relation to the financial market:

A: The financial market is a place where trading of financial assets takes place. It is a place where…

Q: How does the financial system function?

A: Financial system function  has from starting gathering of funds This funds are used for capital…

Q: What are the reasons in support of financial reporting regulation

A: Financial reporting (sometimes known as accounting) is the process of recording and disclosing…

Q: What are the two essential characteristics of usefulfinancial information? What other…

A: Financial information: Financial information refers to the data of the transactions that are…

Q: An objective of financial reporting is

A: Financial reporting uses financial statements to disclose financial data that indicates the…

Q: What measurement attributes are commonly used in financial reporting?

A: Financial accounting: Financial accounting is the process of recording, summarizing, and reporting…

Q: terms of the function of financial reporting, how do the IASB and FASB conceptual frameworks diffe

A: Financial Accounting Standards Board (FASB) is established with the sole responsibility to formulate…

Q: What is Financial Industry Regulatory Authority (FINRA)?

A: Answer: FINRA refers to Financial Industry Regulator Authority. It is an independent US securities…

Q: Who Governs The Financial Reporting Standard?

A: Accounting controls: These are the internal controls which ensure continuous reliability of…

Q: Describe the financial reporting environment.

A: Financial statement: Financial statements are prepared to summaries the account at the end of the…

Q: What is the definition of a conceptual framework? Why is it vital to have a conceptual framework in…

A: Conceptual Framework: A conceptual framework logically explains connected aims and foundations that…

Q: Financial reporting information may be described in terms of its qualitative features.

A: This question explains about financial reporting information

Q: What is the difference between financial statements and financial reporting?

A: Financial statements and financial reporting are both belongs to the financial accounting but…

Q: what are the possible violation of financial reporting protocols ?

A: Financial Statements: Financial statements are formal records of the monetary activities and…

Q: is XBRL Taxonomy? How do you as a preparer of financial statement use the XBRL Taxonomy in locating…

A: XBRL is a global not-for-profit collaboration that governs an open international standard for…

Q: What are the quality information with regards to financial reporting?

A: Financial reporting is to communicate the financial position and its soundness to the shareholders,…

Q: Explain what characteristics should information have to best meet the objective of financial…

A: Financial reporting:   Financial reporting is the procedure to communicate the information obtained…

Q: What may be defined as sufficiently important to influence decisions made by reasonable users of…

A: Users of financial statements are those who are linked to organization in some way and uses the…

Q: What are the objectives, principles and assumptions of the Conceptual Framework for Financial…

A: Answer: Concept: Conceptual framework describes the objective and concept for general purpose…

Q: Explain the objectives of financial reporting.

A: Financial reporting: Financial reporting is the procedure used to communicate the information…

Q: WHAT IS FINANCIAL REPORTING STANDARDS AND ENGAGEMENT STANDARDS? AND ITS CONNECTION WITH THE…

A: Financial reporting standards provides principle for preparation of financial reports and…

Q: Do the IASB and FASB conceptual frameworks differ in terms of the role of financial reporting?

A: International accounting standard board (IASB) is an independent authority under International…

Q: What are the problems encountered by the financial system? What is/ are assessment to these…

A: The group of institutions like banks, insurance companies, mutual funds, stock exchanges, etc. that…

Q: Of what value is a common set of standards in financial accounting and reporting?

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

Q: Discuss the techniques used by investors and managers to analyze financial statements?

A:

Q: What is the purpose of a financial management system?

A: Financial Management system A Financial management framework is the procedure and programming that…

Q: What are elements of financial reporting as per conceptual framework? Explain with example

A: The release of financial statements, which contain the income statement, balance sheet, and…

Q: What can be defined as sufficiently important to influence decisions made by reasonable users of…

A: The financial statements are the statements that record all the transactions of the company. These…

Q: What is the role of the Financial Accounting Standards Board (FASB)?

A: Financial Accounting Standards Board (FASB) is an organization responsible for establishing and…

Q: What characteristics should information have to best meet the objective of financial reporting?

A: Financial reporting is the disclosure of financial results and related information to management and…

Q: What is meant by the term materiality in financial reporting?

A:

Q: What is the role of the auditor in the financial reporting process?

A:

Q: Why are disclosures important in financial statement and what are its benefits?

A:

Q: What are the arguments favoring the regulation of financial reporting?

A: Financial reporting:   Financial reporting is the procedure to communicate the information obtained…

Q: why ethics is important in reporting financial statement?

A: Ethics are the moral principles which a controller should follow while reporting financial…

Q: Does financial reporting play a different function in the IASB and FASB conceptual frameworks? Exp

A: To design the Generally Accepted Accounting Principles (GAAP), the Financial Accounting Standards…

Q: How are financial reporting and capital markets related

A: Financial reporting and capital markets are concepts that need to be understood. Generally,…

Q: In general, what is the conceptual framework that underlies accounting principles, and how  does it…

A: A conceptual framework can be defined as a system of ideas and objectives that lead to the creation…

Q: Explain into detail some of the difficulties associated with the financial system.

A: Financial system is the system developed or created by various financial institutions such as banks,…

Q: Describe the usefulness of a conceptual framework and the objective of financial reporting.

A:

Q: What are the conceptual issues related to financial reporting and financial disclosures?

A: Introduction: Financial reporting is a common accounting technique in which financial statements…

Q: What are some of the reasons in support of financial reporting regulations?

A: Introduction: Financial reporting: Financial reporting is the process by which information derived…