What might explain the fact that different accounting standard-setters have developed accounting standards that are sometimes quite different in nature?

Q: Discuss the primary differences between U.S. GAAP and IFRS with respect to the  development of…

A: U.S. GAAP    The Generally Accepted Accounting Principles in the US (US GAAP) refer to the…

Q: Explain the problems associated with inappropriate accounting practices.

A: Fraud: Fraud is a malicious act committed by people to fulfill their personal benefits. In case of…

Q: Briefly discuss the difference between (A) a “rules-based" approach to accounting standard setting…

A: Rules-based accounting: Rules-based accounting is based on a set of detailed rules that the…

Q: ation differ

A: Accounting: It is the process of recording any financial transactions incurred in the financial year…

Q: Answer the following: In detail, what's the benefit of accounting harmonization?

A: “Since you have asked multiple questions, we will solve the first question for you.  If you want a…

Q: Drawing on your background in accounting, can you think of any accounting procedure differences that…

A: Accounting Procedures: It  is the Procedure  followed by companies to  record  day-to-day financial…

Q: What can be understood from the term Accounting diversity?

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

Q: Compare and contrast the different types of accounting regulation that exist.

A: Accounting Regulation: Accounting regulations are being developed to allow investors , managers and…

Q: Explain the differences between a positive theory of accounting and a normative theory of…

A: The question is based on the concept of Business Accounting.

Q: What are some of the most common types of accounting distortions that can arise?

A: Accounting refers to the process of examining and documenting all the financial and other…

Q: What is the origin of the term "double accounting systems" for certain types of accounting?

A: This subject discusses the origins of the phrase "double accounting systems" for specific forms of…

Q: why is uniformity in accounting necessarily implies compariability?

A: Comparability isn't the same as uniformity. Like things must appear alike, and distinct things must…

Q: quality of accounting standards?

A: Accounting standards determine thee accounting information must have relevance, must be reliable and…

Q: Advantages and Disadvantages of Harmonization of Accounting Standards

A: The process of raising the level of agreement among countries in accounting standards and practices…

Q: what are disadvantages of national or international accounting uniformity?

A: National or International accounting uniformity means same accounting standards and accounting…

Q: Why do you think Accounting Standards are mandatory?

A: Definition:   International Financial Reporting Standards (IFRS): IFRS are a set of international…

Q: Which of the following is most closely linked to accounting conservatism? Lower-of-cost-or-market…

A: Answer:

Q: Choose one specialized industry and identify one specific financial reporting standards or distinct…

A: Financial reporting standards are those standards which are to be followed by each business in order…

Q: nship or differences between Accounting and accountability?

A: Accounting: Every business has various types of transactions like monetary, goods and services. To…

Q: What are the primary advantages of having a Codification of generally accepted accounting…

A: Generally Accepted Accounting Principles (GAAP): Generally Accepted Accounting Principles are the…

Q: Which is not a purpose of the conceptual framework? a. To provide definitions of key terms and…

A: The conceptual framework of accounting is made to enable the accountants/accounting professionals to…

Q: Which of the following is not true concerning a conceptual framework in accounting? O It should be a…

A: Conceptual framework in accounting means rules, regulations and guidelines that are used for…

Q: Which of the following is most closely linked to accounting conservatism? a. Lower-of-cost-or-market…

A:

Q: What are the two of the qualitative characteristics of accounting information that contribute to its…

A:

Q: Why does The conceptual framework has been described as an “Accounting Constitution”?

A: The conceptual framework sets the boundary within which financial accounting and reporting takes…

Q: Examine the advantages and disadvantages of interpretative accounting theory

A: Introduction : Interpretive Accounting theory has developed and contributed significantly to our…

Q: on

A: Yes, cultural influences are likely to have an impact on accounting measurement or disclosure…

Q: What is the desired benefit from revising an accounting standard?

A: Financial Accounting Standards Board:   It is commonly known as FASB. It is a private, non-profit…

Q: How does the role of a traditional accountant differ from internal and external auditor?

A: External auditor is appointed for the examination of financial records of the entity and for…

Q: s that influence the adoption of computarised ac

A: Using computerized accounting systems, you may set up revenue and expenditure accounts for things…

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: Distinguish between termporary differences and permanent differences in Accounting? Provide an…

A: Generally, the reports and financial statements are to be prepared as per the applicable accounting…

Q: Explain differential effects on accounting standards.

A: Accounting standards deals with the issues of: Recognition of events and transaction in financial…

Q: Explain the different accounting concepts and conventions with examples

A: Accounting Concepts and Conventions exist to serve the basic objective of accounting, i.e, to…

Q: What should you tell your friend about the presence of accounting standards in theUnited States? Who…

A: Worldwide monetary scene huge change. These advancements have been inferable, to some degree, to…