The disclosure principle requires that management prepare financial reports that disclose all of the following types...
The disclosure principle requires that management prepare financial reports that disclose all of the following types of information except
a. information that is relevant to decision making
b. forecasts of expected future earnings to help investors decide whether to invest in the company.
c. the method of inventory used
d. information that facilitates comparison with other companies' financial reports
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The disclosure principle requires that management prepare
financial reports that disclose all of the following types...
IS THE DISCLOSURE WORTH THE COST? Filing with the SEC requires a very significant amount of...
IS THE DISCLOSURE WORTH THE COST? Filing with the SEC requires a very significant amount of time and effort on the registrant's part. Companies frequently resist attempts by the SEC to increase the levels of disclosure. Usually, they argue that additional information will not necessarily be useful to a great majority of investors. Regardless of the issue being debated, critics claim that the cost of the extra data far outweighs any benefits that might be derived from this disclosure. Such...
Agree or Disagree and Why? A financial statement is a statement that reports all relevant financial...
Agree or Disagree and Why? A financial statement is a statement that reports all relevant financial information, presented in a “structured manner and in a form easy to understand for managerial use for taking prompt and informed decision making related to investment” (Blessing and E.E. 2015). The analysis of financial statements evaluates the past and current financial situation of a company, allowing it to establish estimates and predictions about future scenarios. Financial analysis is crucial in maintaining a successful business....
please answer Successful financial management requires knowledge of not only the terminology, mathematics, and techniques of...
please answer
Successful financial management requires knowledge of not only the terminology, mathematics, and techniques of financial management, but also that of human psychology and sociology. Financial and economic history in general- and market bubbles in particular-are filled with examples of both rational and irrational behaviors. Which of the following behaviors are true characterizations of a market bubble and which are false? Behavior True False Extremely high trading volumes vis-a-vis historical averages Sudden, unexpected, and significant price declines Throughout the...
Which of the following statements is not true? Comparability means using the same accounting principles from...
Which of the following statements is not true? Comparability means using the same accounting principles from year to year within a company. 2) Faithful representation is the quality of information that gives assurance that it is free of error. 3) Relevant accounting information must be capable of making a difference in the decision. 4) The primary objective of financial reporting is to provide financial information that is useful to investors and creditors for making decisions. Question 8 (1 point) Intangible...
IAS 1 Presentation of Financial Statements requires management to assess a company’s ability to continue as...
IAS 1 Presentation of Financial Statements requires management to assess a company’s ability to continue as a going concern. The going concern assessment needs to be performed up to the date on which the financial statements are issued. The assessment relates to at least the first twelve months after the Statement of Financial Position date, or after the date the financial statements will be signed, but the timeframe might need to be extended. Material uncertainties, for example, the coronavirus effects...
IAS 1 Presentation of Financial Statements requires management to assess a company’s ability to continue as...
IAS 1 Presentation of Financial Statements requires management to assess a company’s ability to continue as a going concern. The going concern assessment needs to be performed up to the date on which the financial statements are issued. The assessment relates to at least the first twelve months after the Statement of Financial Position date, or after the date the financial statements will be signed, but the timeframe might need to be extended. Material uncertainties, for example, the coronavirus effects...
FRS-financial reporting system MRS management reporting system a. Preparation of balance sheet b. Capture customer sales...
FRS-financial reporting system MRS management reporting system a. Preparation of balance sheet b. Capture customer sales order c. Preparation of variance reports d. Preparation of budgets e. Purchase order preparation f. Summary of inventory purchases by vendor g. Preparation of comparative sales report by division h. Preparation of cash disbursements to vendors i. Annual report preparation j. Customer billing process k. Cost-volume-profit analysis Exercise 2-4 Identify the appropriate qualitative characteristic(s) to be used given the information provided below. (a) Qualitative...
How would I respond to these: ....? - From my understanding, financial accounting relies more on...
How would I respond to these: ....? - From my understanding, financial accounting relies more on information that can be made available to any person whereas managerial accounting is used for a business internally that will aid in making decisions that could potentially effect the company employees, shareholders and the overall running of a business. Someone who works in the managerial accounting field would be able to run break even numbers for the company in order to see what the...
Please correctly answer all parts of question #1 1. Financial statements and reports A Aa What...
Please correctly answer all parts of question #1
1. Financial statements and reports A Aa What happened to assets, earnings, dividends, and cash flows during the financial year? Accounting practice in the United States follows the generally accepted accounting principles (GAAP) developed by the Financial Accounting Standards Board (FASB), which is a nongovernmental, professional standards body that monitors accounting practices and evaluates controversial issues. The Securities and Exchange Commission (SEC) requires all publicly traded companies to periodically report their financial...
A common size analysis requires the representation of financial statement data in terms of a single...
A common size analysis requires the representation of financial statement data in terms of a single financial statement item (or base account or value). What is the most commonly used base item for a common size income statement? O Net sales Total assets Stockholders' equity O Total liabilities Suppose you are conducting an analysis of the financial performance of Cute Camel Woodcraft Company over the past three years. The company did not issue new shares during these three years, and...
IS THE DISCLOSURE WORTH THE COST? Filing with the SEC requires a very significant amount of time and effort on the registrant's part. Companies frequently resist attempts by the SEC to increase the levels of disclosure. Usually, they argue that additional information will not necessarily be useful to a great majority of investors. Regardless of the issue being debated, critics claim that the cost of the extra data far outweighs any benefits that might be derived from this disclosure. Such...
please answer
Successful financial management requires knowledge of not only the terminology, mathematics, and techniques of financial management, but also that of human psychology and sociology. Financial and economic history in general- and market bubbles in particular-are filled with examples of both rational and irrational behaviors. Which of the following behaviors are true characterizations of a market bubble and which are false? Behavior True False Extremely high trading volumes vis-a-vis historical averages Sudden, unexpected, and significant price declines Throughout the...
Which of the following statements is not true? Comparability means using the same accounting principles from year to year within a company. 2) Faithful representation is the quality of information that gives assurance that it is free of error. 3) Relevant accounting information must be capable of making a difference in the decision. 4) The primary objective of financial reporting is to provide financial information that is useful to investors and creditors for making decisions. Question 8 (1 point) Intangible...
FRS-financial reporting system MRS management reporting system a. Preparation of balance sheet b. Capture customer sales order c. Preparation of variance reports d. Preparation of budgets e. Purchase order preparation f. Summary of inventory purchases by vendor g. Preparation of comparative sales report by division h. Preparation of cash disbursements to vendors i. Annual report preparation j. Customer billing process k. Cost-volume-profit analysis Exercise 2-4 Identify the appropriate qualitative characteristic(s) to be used given the information provided below. (a) Qualitative...
Please correctly answer all parts of question #1
1. Financial statements and reports A Aa What happened to assets, earnings, dividends, and cash flows during the financial year? Accounting practice in the United States follows the generally accepted accounting principles (GAAP) developed by the Financial Accounting Standards Board (FASB), which is a nongovernmental, professional standards body that monitors accounting practices and evaluates controversial issues. The Securities and Exchange Commission (SEC) requires all publicly traded companies to periodically report their financial...
A common size analysis requires the representation of financial statement data in terms of a single financial statement item (or base account or value). What is the most commonly used base item for a common size income statement? O Net sales Total assets Stockholders' equity O Total liabilities Suppose you are conducting an analysis of the financial performance of Cute Camel Woodcraft Company over the past three years. The company did not issue new shares during these three years, and...
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