Include an abstract. A running head is optional. Analyze reporting requirements for private sector, not-for-profit organizations under Financial Accounting Standard Board guidance. Compare and contrast accounting practices between the two different assignments. ACC 548 Week 5 Learning Team Assignment Reporting Requirements M to purchase http://allmysolution.com/ACC-548_c119.htm Product Description One issue in accounting is the qualifications of an accountant when working for a client.
Question 8 Which of the following is considered information rather than data? Question 9 Which of the following is an application program? Question 10 An information system that provides relevant data to help businesspeople choose the appropriate course of action is called a(n) ________. Question 11 All of the following are profitability ratios EXCEPT ________. Question 12 Who is recognized worldwide as the body with sole responsibility and authority to issue pronouncements on international accounting standards?
Question Critically compare and contrast the codes of ethics/professional conduct of either (a) The institute of Chartered Secretaries Zimbabwe (ICSAZ) or (b) the Institute of Chartered Accountants of Zimbabwe (ICAZ) against the International Federation of Accountants (IFAC) code of ethics. Accounting being a profession demands the responsibility to act in a ethical manner. Ethical behaviour is one of the principally vital aspects of the accounting profession besides the need for the technical expertise. A Code of Ethics is a document which guides professional accountants in the exercise of their duties, in business, decision making and their behaviour as accounting professionals. Although there has been harmonisation of the profession worldwide every country has its own national standard setting bodies and there are also some found at a regional level like in Southern Africa there is Southern Africa Association of Accountants (SAAA).
Merliss wants to be sure that all reporting for this transaction is proper and transparent. The company asks you to research disclosure requirements related to its capital structure. A) Identify the authoritative literature that addresses disclosure of information about capital structure. Statement of Financial Accounting Standards (SFAS) No. 129 This statement sets standards for disclosing information about an entity’s capital structure.
Consequently, shareholders have no flexibility to alter their legal treatment with respect to one another, with respect to the corporation, and with respect to outsiders” (15-3). However, states provide default provisions for LLC’s and allow members the flexibility to alter arrangements based on their management style and desired outcomes. Corporations also require onerous fees and organizational requirements that must be met. LLC’s have fewer formalities, do not require board meetings and do not impose strict organizational reporting requirements. Tax considerations are also an important part of forming a business and play a significant part when choosing an entity.
Merliss wants to be sure that all reporting for this transaction is proper and transparent. The company asks you to research disclosure requirements related to its capital structure. A .Identify the authoritative literature that addresses disclosure of information about capital structure. Statement of Financial Accounting Standards (SFAS) No. 129 This statement sets standards for disclosing information about an entity’s capital structure.
The evaluation of the organization usefulness of the internal control, and provides very important information of the organizations achievement habits in the economy. __ Auditing Firm firmly believes the audit offer results of a professional opinion. Because of the time, __ Auditing did not audit the financial reports for the year ending December 31, 2008. The financial statements of December 31, 2008 were audited by other external auditors that offered __ Auditing Firm a copy of judgment report. The view of __ Auditing Firm has found the report of the external auditors to fall in concurrence with the preceding report
Chapter 2 2-15: B. A is part of role of internal auditor because they can assist external auditors with annual financial statement audit. C& D also belong to internal auditors because they are often involved in assurance and consulting engagements for their entity. However, B cannot belongs to the role of internal auditors because it does not relate to the investors and creditors. , 2-16: A.
● ● Requires codes of ethics for senior financial officers. In addition, Section 404 of the Sarbanes-Oxley Act requires public companies to attest to the effectiveness of their internal controls over financial reporting. 29. Some major challenges facing the accounting profession relate to the following items: Nonfinancial measurement—how to report significant key performance measurements such as customer satisfaction indexes, backlog information and reject rates on goods purchased. Forward-looking information—how to report more future oriented information.
Actually, Federal Reserve membership would be of secondary importance if common reserve requirements were made applicable, and this step could be accomplished for practical purposes within the limits of existing federal powers and without infringing on other aspects of state supervisory jurisdiction. The second problem is the relation of the three federal supervisory agencies. There is no question as to the federal government's right to supervise all banks accepting federal deposit insurance, and the exercise of this supervision need not necessarily