Setting accounting standards by the private sector is

Q: What are some ways a board can train their employees to be effective in its financial decision…

A: It is important that employees view the goal of the company in the same way as the board would view…

Q: How does the accountant's focus on the commercial goals as a priority affect the performance of his…

A: Accountants are the professionals which have the specialized degree to prepare accounts of the…

Q: Define accounting, and describe the roles of private andpublic accountants.

A: Accounting is a process of identifying business transaction, analyzing, measuring, recording, and…

Q: explain how financial management relates to general corporate policy

A: Financial management is a process of managing all financial resources. It is the process of…

Q: corporate social responsibility

A: 1) Corporate social responsibility (CSR) is a term used to describe a company’s efforts to improve…

Q: Differentiate accounting for government and not-for-profit organization from a business enterprise.

A: Business enterprises are those organisation which run and execute their business for the purpose of…

Q: Explain how financial institutions serve the needs of consumers, small businesses, and corporations.…

A: Role of financial institutions (FIs):FIs play a crucial role in economy. They make financial…

Q: Explain and differentiate the role of government and industry in financial inclusion

A: Financial inclusion is the process in which the businesses and individuals have access to basic…

Q: Which among the following is an external user of accounting information? a. Government authorities…

A: Accounting information means financial statements and results that are useful for decision makers…

Q: How can a broader conceptualization of accounts, accounting and accountability (the 3As), and the…

A: These 3As like Accounts, Accounting and Accountability are three different concept and it must be…

Q: State the differences between private sector and public sector accounting.

A: Private Sector The private sector refers to: organizations that are not government-owned, and the…

Q: discuss in detail the adminstration of financial management within the public sector

A: Financial management include applying general management concepts to the enterprise's financial…

Q: Can you think of any reasons why the SEC relies on private sector bodies to set accounting…

A: Securities and Exchange Commission (SEC): SEC was created under the Securities Act of 1933 and…

Q: Who among the following is a direct user of accounting information? Labor association Financial…

A: Users of accounting information is classified into 2 categories:  a. Direct users  b. Indirect users…

Q: How can a broader conceptualization of accounts, accounting and accountability (the 3As), and the…

A: Accounts is the individual’s personal account, real account and nominal account which is prepared to…

Q: Distinguish between government and not-for-profit organizations from business entities and describe…

A: Business entities are described as those units which are formulated to provide professional…

Q: Who must register with the Public Company Accounting Oversight Board?

A: Public Company Accounting Oversight Board refers to the non-profit organization which regulates…

Q: Describe the agency problem in public companies

A: Definition:

Q: Explain the relationship of Social and Economic Accounting to Financial What are the features of the…

A: Answer: Social and economic accounting and financial are all related with each other. The basic…

Q: What is the difference between accounting and business government

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

Q: What are the importance of measuring and evaluating performance relating to finance and accounting…

A: Finance and accounting are important aspects of any business because it deals with overall funds and…

Q: What is meant by Not-for-profit accounting?

A: Accounting represents the system of maintaining records of day-to-day business operations of an…

Q: what are the goals of financial management for a corporation

A: Financial management means planning, organizing, directing, and managing a company's financial…

Q: portance of accounting as a social

A: Accounting: "A formal process of measuring the events into monetary terms and recording,…

Q: Which of the following regarding GAAP is true?a. GAAP is an abbreviation for generally…

A: GAAP is the combination of accounting standards, accounting principles and procedures a company…

Q: Accountants role in the organization

A: An accountant can be anything from a simple bookkeeper to a strategic adviser, interpreting…

Q: Why we need public accounting

A: Public accounting: When the public accountants provide services from a public accounting firm to the…

Q: What are the role of accountants in the organization?

A: Role of accountants in an organization: 1. Collecting and recording accurately all the financial…

Q: What type of organization primarily offers tax compliance, auditing, and consulting services?…

A: corporations - The Main business of corporations are sale of goods and services with Profit Motive…

Q: Describe the organization of public accounting firms and identify the variousservices that they…

A: A small business might use a public accounting firm to prepare the monthly or quarterly financial…

Q: 1. State and explain the Reasons for the existence of the public sector.

A: We shall answer the first question since the exact question wasn't specified. Please resubmit a new…

Q: Which are the Additional Costs of Being a Public Company?

A: Introduction: A public company is a company which is owned and traded by the general public in the…

Q: Explain the usefulness of Financial statement information to the following stakeholders: Financial…

A: Financial statements means statements that are prepared at the end of the period to analyse and…

Q: Setting accounting standards by the private sector is Select one: a. Independent discipline approach…

A: Accounting standards refer to the rules, policies, and practices used or followed to record…

Q: Explain the difference between public and private accounting

A: SOLUTION-   ACCOUNTING  IS THE PROCESS OF RECORDING FINANCIAL TRANSACTIONS PERTAINING TO A BUSINESS.

Q: Who should set accounting standards? A government agency or private body such as the FASB?

A: Accounting standards are the rules and provisions that guide the manner in which accounting reports…

Q: What can you say about accounting for corporation?

A: Corporate Accounting: A special branch of accounting, corporate accounting is concerned with the…

Q: how corporate social responsibility influence the financial position of smes in terms of…

A: To realize this objective, associate alpha study was conducted and knowledge were collected…