Why Should The Important Contents Of A Long Business Report Be Summarized In An Executive Summary Quizlet? Which of the following can damage the objectivity of a business report? … Why should the important contents of a long business report be summarized in an executive summary? to enable decision makers to quickly understand and act
How Long Should You Keep Accounts Receivable? Accounting Records Retention Period Accounts payable7 years Accounts receivable 7 years Audit reports Permanent Chart of accounts Permanent What records need to be kept for 7 years? Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction. Keep
Which Of The Following Circumstances Most Likely Would Require An Auditor To Apply An Omitted Procedure After The Audit Report Issuance Date? Option (c) is the correct answer. An auditor most likely inquires about the entity’s legal counsel concerning litigation, claims, and assessments arising after year-end because it may arise after year-end but before issuance
Can Treasury Stock Be Listed As An Asset On The Balance Sheet? The money collected from the stock sale is shown in the asset section of the balance sheet as a debit to cash and in the stockholders’ equity section as a credit to common stock. … How is treasury stock shown on the balance
What Are The Two Format Of Statement Of Financial Position? The structure of the statement of financial position is similar to the basic accounting equation. For a corporation the format will be: Assets = Liabilities + Stockholders’ Equity. A nonprofit organization’s format will be: Assets = Liabilities + Net Assets. What are the two types
Who Has To Adopt IFRS? Adoption. IFRS Standards are required in more than 140 jurisdictions and permitted in many parts of the world, including South Korea, Brazil, the European Union, India, Hong Kong, Australia, Malaysia, Pakistan, GCC countries, Russia, Chile, Philippines, Kenya, South Africa, Singapore and Turkey. Why is it important to adopt IFRS? IFRS
Which Of The Following Is A Change That Affects Comparability But Does Not Affect The Consistency Of The Financial Statements? change to affect comparability but not consistency? accounting change can affect comparability but not consistency because underlying data can change without accounting principles being changed. You just studied 15 terms! When there has been a
Who Is Responsible For The Adequacy Of Disclosure In The Financial Statements Of A Publicly Held Company? The primary responsibility for the adequacy of disclosure in the financial statements of a publicly-held company rests with the: a. Securities and Exchange Commission. Who has the primary responsibility for the adequacy of disclosure in the financial statements
What Is The Financial Management Reform? The Federal Government of Nigeria began public finance management reforms to address the challenges of transparency, accountability, corruption, and poor service delivery. … Consequently in 2004, the country embarked on Economic Reforms and Governance Project (ERGP) sponsored by the World Bank to address the challenges. What is public finance
Who Is Required To File A 10-K? According to the SEC, companies with a public float—shares issued to the public that are available to trade—of $700 million or more must file their 10-K within 60 days after the end of their fiscal year. Do all companies have to file a 10-K? Most U.S. public companies