Analyze the two primary qualities of useful accounting information and give your opinion on whether you agree with the t...
Analyze the two primary qualities of useful accounting information and give your opinion on whether you agree with the two primary qualities. Suggest to FASB one additional primary quality that would enhance accounting usefulness. Provide two examples to support your suggestion.
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Homework Answers
Qualities necessary for information serve a major supporting role in the decision usefulness decision model approach to accounting theory qualitative characteristics are the tributes that make the information provided in financial statements useful to users
Accounting information that is reported to facilitate economic decisions should possess certain characteristics or normative standards the informational qualities which has been accepted by FASB international accounting standards board (IASB) has recognized the four principlal qualitative characteristics of accounting information understandability relevance reliability comparability
The qualities suggested by IASB are Materiality faithful representation substance over from neutrality prudence completeness timelines
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View the attached pictures with the lecture on additional
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Logically argue your case.
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Please help assist:
View the attached pictures with the lecture on additional
disclosures from auditors.
Analyze (in fewer than 150 words) these mandatory additional
disclosures.
You can take the perspective of the investor, auditor, or the
company.
Logically argue your case.
Please Search for, and cite, information sources, and those
found in the article. Whenever you can, give real-world
examples
to support your commentary.
The federal regulator that polices accounting firms is proposing a major overhaul of how company...
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