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What are the nature of accounting standards?
what are accounting standards nature
Explain why accounting standards are needed to help the market mechanism work effectively for the benefit of preparers and users of corporate reports?
This has to do with the accounting standards where it recognises revenue and expenses. As a result, the users of the corporate reports are eventually able to identify the current state of the market mechanism and take steps to rectify any possible errors in that might occur from the market mechanism. For example: If there is a loss, it will be shown in the financial statement as expenses more than revenue. Therefore, there information users will need to identify the possible reasons for such occurence. Perhaps there is a reduction in consumer's purchasing power. Therefore, the corporate can take actions such as reducing the price of the products or services. This in return smoothen the market mechanism and eventually generates more profit for the corporate.
What are the most popular accounting software packages?
Some of the most popular accounting packages on the market today include, Lower End options, which is a very affordable package. Sage One, especially designed for small businesses. And Quick Books, which is the market leader in entry level accounting.
What are the differences between Indian Accounting Standards and International Accounting Standards?
Indian accounting standards are developed by Indian board and only applicable in India while international accounting standards are developed by International Accounting standard board and applicable to all countries.
What are the differences between Indian accounting standards and U.S. accounting standards?
Here is a link to a great paper by from the SEC , outlining the major differences in International Accounting Standards.
Is Mark to Market accounting accepted under generally accepted accounting principle?
no, it only accepts it once we take up fair values not the fair market values bcz somtimes market under value a perticular asset
What has the author Joy Peters written?
Joy Peters has written: 'Breast cancer' -- subject(s): Biography, Breast, Cancer, Patients
Market inspectors enforced high standards in the bazaar?
True
How do you treat fixed assets in inflation accounting?
At current Market Value
What are the nature of accounting standards?
what are accounting standards nature
What is GDP at market price?
GDP at market price- It s the money value of all final goods and services produced within the domestic territory a country in an accounting year at prevailing market prices.
What is most closely linked to accounting conservatism?
Lower of cost or market rule
Mandatory accounting standards issued by ICAI?
accounting standards
Explain why accounting standards are needed to help the market mechanism work effectively for the benefit of preparers and users of corporate reports?
This has to do with the accounting standards where it recognises revenue and expenses. As a result, the users of the corporate reports are eventually able to identify the current state of the market mechanism and take steps to rectify any possible errors in that might occur from the market mechanism. For example: If there is a loss, it will be shown in the financial statement as expenses more than revenue. Therefore, there information users will need to identify the possible reasons for such occurence. Perhaps there is a reduction in consumer's purchasing power. Therefore, the corporate can take actions such as reducing the price of the products or services. This in return smoothen the market mechanism and eventually generates more profit for the corporate.
IFRS in the region the council of Fiji institute of accountants has resoived all the extant of international accounting standards and the newly developed international finanancial reporting standards?
why was the adoption of the IFRs seen as an incentive for multinationals and local enterprises to register on the local stock market in fiji
What are the most popular accounting software packages?
Some of the most popular accounting packages on the market today include, Lower End options, which is a very affordable package. Sage One, especially designed for small businesses. And Quick Books, which is the market leader in entry level accounting.
What is a market risk when entering into a derivative contract?
Market Risk. This is the potential financial loss due to adverse changes in the fair value of a derivative. Market risk encompasses legal risk, control risk, and accounting risk.
