3. Why do you consider it necessary to include within the additional notes to the financial...
3. Why do you consider it necessary to include within the additional notes to the financial statements the existing legal demands in which the medical entity is involved?
Homework Answers
Relevant medical authority can raise demand in many cases like overpricing of drugs,unreasonable benefit earned by entity.This required to be included in additional notes to financial statements of medical entity for the purpose of providing information to present and potential investors regarding liabilities which can arise in future against entity.This helps the shareholders to make decisions regarding investment.
Add Answer to:
3. Why do you consider it necessary to include within the
additional notes to the financial...
QUESTION 16 The financial information included within the financial statements reflects only the financial performance of...
QUESTION 16 The financial information included within the financial statements reflects only the financial performance of the entity as determined by applying the guidance and rules incorporated within the Conceptual Framework and within applicable accounting standards: they do not provide a means of assessing the performance of the entity. legal technological social or environmental political QUESTION 17 Which of the following are considered in the AASB Framework as primary qualitative characteristics? Relevance, faithful representation, materiality and comparability Relevance, faithful representation,...
QUESTION 17 The financial information included within the financial statements reflects only the financial performance of...
QUESTION 17 The financial information included within the financial statements reflects only the financial performance of the entity as determined by applying the guidance and rules incorporated within the Conceptual Framework and within applicable accounting standards: they do not provide a means of assessing the performance of the entity. legal O technological O social or environmental O political QUESTION 18 Which among the following is not a current value measurement? Fair value Value in use for assets) or fulfilment value...
PR-A3 Explain why non-reporting entities must prepare financial statements. Include in your response: i. General purpose...
PR-A3 Explain why non-reporting entities must prepare financial statements. Include in your response: i. General purpose for preparing financial statements ii. Legal obligations of businesses in relation to preparing financial statements i. General purpose for preparing financial statements ii. Legal obligations of businesses in relation to preparing financial statements. Include the specific act or legislation you referred to.
consider the steps in the accounting cycle. In what order do you think the financial statements should be produced? Does...
consider the steps in the accounting cycle. In what order do you think the financial statements should be produced? Does it make more sense to produce the statements in which the closing entries are completed after the income statement? Why or why not?
Consider why scribes are being used within the healthcare system. In this discussion you will consider...
Consider why scribes are being used within the healthcare system. In this discussion you will consider how the patient might feel with a scribe in the room. From a patient’s point of view, discuss how you would feel about a third person being in the room when you are speaking with your doctor. What can the medical practice do to help patients become accustomed to scribes? What can a doctor and scribe do to reassure the patient? Is there ever...
1. What information should an investor be able to find within the financial statements and why...
1. What information should an investor be able to find within the financial statements and why is is important that they be reviewed by a third party? 2. Firms speak of the use of Generally Accepted Accounting Principles (GAAP). Why is this approach important and who assures that it is followed? (There are several parties involved) 3. What is accrual accounting and how does it differ from cash based accounting? 4. What information does the balance sheet contain as compared...
Which of the following statements about the financial planning process is correct? The additional funds needed...
Which of the following statements about the financial planning process is correct? The additional funds needed (AFN) is estimated by summing the expected changes in assets and liabilities that fluctuate with sales and then subtracting the expected operating income. The projected balance sheet method requires only the balance sheet to determine a firm's expected financial needs. The decision as to how a firm should raise additional funds needed (AFN) to meet its financial goals depends on the ability of the...
AU Section 316 requires auditors to consider fraud in the financial statement audit. Research this section...
AU Section 316 requires auditors to consider fraud in the financial statement audit. Research this section of the AICPAs standards and discuss some of the activities you would implement in your audit of a publicly traded company to document your audit teams consideration of fraud in the clients financial statements. In your discussion, include who would be involved in the brainstorming session and why.
In the lectures notes and class materials, we have studied the concept of risk and return...
In the lectures notes and class materials, we have studied the concept of risk and return - so we know the fundamentals. To assume additional risk, investors will require the opportunity to receive additional return. Additionally, some investors by nature are more risk averse than others - this is what drives financial markets. Let's assume that you have just inherited an unexpected large sum of $100,000 for which you have no pressing financial demands and which you decided to invest...
The AASB Conceptual Framework (2.12-2.19) refers to ‘faithful representation’ as being necessary for financial information to...
The AASB Conceptual Framework (2.12-2.19) refers to ‘faithful representation’ as being necessary for financial information to be useful. This section of the AASB Conceptual Framework also makes reference to ‘neutrality’ (eg. 2.16). Define what is meant by ‘faithful representation’ and ‘neutrality’. Do you believe it is possible for financial reports to be 'representationally faithful' and 'neutral'? Justify your position. In your response, evaluate why you think the IASB (and AASB) include these terms within the Conceptual Framework. \
QUESTION 16 The financial information included within the financial statements reflects only the financial performance of the entity as determined by applying the guidance and rules incorporated within the Conceptual Framework and within applicable accounting standards: they do not provide a means of assessing the performance of the entity. legal technological social or environmental political QUESTION 17 Which of the following are considered in the AASB Framework as primary qualitative characteristics? Relevance, faithful representation, materiality and comparability Relevance, faithful representation,...
QUESTION 17 The financial information included within the financial statements reflects only the financial performance of the entity as determined by applying the guidance and rules incorporated within the Conceptual Framework and within applicable accounting standards: they do not provide a means of assessing the performance of the entity. legal O technological O social or environmental O political QUESTION 18 Which among the following is not a current value measurement? Fair value Value in use for assets) or fulfilment value...
PR-A3 Explain why non-reporting entities must prepare financial statements. Include in your response: i. General purpose for preparing financial statements ii. Legal obligations of businesses in relation to preparing financial statements i. General purpose for preparing financial statements ii. Legal obligations of businesses in relation to preparing financial statements. Include the specific act or legislation you referred to.
In the lectures notes and class materials, we have studied the concept of risk and return - so we know the fundamentals. To assume additional risk, investors will require the opportunity to receive additional return. Additionally, some investors by nature are more risk averse than others - this is what drives financial markets. Let's assume that you have just inherited an unexpected large sum of $100,000 for which you have no pressing financial demands and which you decided to invest...
Most questions answered within 3 hours.
-
Describe how do you feel about the post below and
why?
Listening to the podcast reaffirmed...
asked 6 minutes ago -
To start an avalanche on a mountain slope, an artillery shell is
fired with an initial...
asked 18 minutes ago -
The population of bacteria in a culture can be modeled by P left
parenthesis t right...
asked 23 minutes ago -
Which factors can prevent permanent fixation of an allele (i.e.
maintain genetic diversity)? Hint: You're going...
asked 25 minutes ago -
Compare a two-year bond with two successive one-year bonds in a
situation in which an investor...
asked 46 minutes ago -
Chapter 6
Search the internet and find a newspaper example of a price
ceiling, price floor...
asked 41 minutes ago -
Sarah Bates, calendar year taxpayer, started a new business on
October 8th. A number of start-up...
asked 42 minutes ago -
You and your friends are playing in the swimming pool with a
40-cm-diameter beach ball. How...
asked 47 minutes ago -
Patterson Development sometimes sells property on an installment
basis. In those cases, Patterson reports income in...
asked 59 minutes ago -
please help with these two example, i want to double check my
work. thanks
1.
sum:=0...
asked 56 minutes ago -
in the formation of 1.0 mole of the following crystalline solids
from the gaseous ions most...
asked 1 hour ago -
Please answer Letter G only.
Price
Quantity
TR
MR
MC
TC
Profit
$15,000
0
0
----...
asked 1 hour ago