Business, 16.09.2019 22:00 eliLoumbardia

The fasb's standard-setting process includes, in the correct order: exposure draft, research, discussion paper, accounting standards update. discussion paper, research, exposure draft, accounting standards update. research, discussion paper, exposure draft, accounting standards update. research, exposure draft, discussion paper, accounting standards update.

Answers: 1

Show answers

Answers

Answer from: jenifferplowman

The correct answer is Research, Discussion paper, Exposure draft and Accounting standards update.

Explanation:

Accounting standards are essential for the efficient functioning of the economy, since decisions regarding the placement of resources and investments are generally based on credible, concise, transparent and understandable financial information. The financial information about the operations and economic position of the different entities is also used by the public to make different decisions.

To achieve its mission, the FASB acts in the following ways:

Improving the usefulness of financial reports focusing on the primary characteristics relevant to reliability and the quality of equivalence and consistency. Maintaining current standards to reflect changes in the methods of doing business and in the economic environment. Considering promptly any deficiency in the way of making financial reports that can be improved through the management of the process design. Promoting the international convergence of accounting standards and trying to improve the quality of financial reports. Improving the common understanding of the nature and purposes of the information contained in said financial reports.

The FASB is responsible for developing broad accounting standards and standards for financial reports, and provides guidance for their implementation. The concepts help the Council to set the standards and provide a conceptual framework to solve the problems that may occur. The framework will help establish reasonable limits to judge the process of preparing financial information and to increase user understanding and trust in this information. It will also give the public tools to understand the nature and limitations of the information given in the financial reports.

Answer from: Quest

can your question and add a list so i can you out?

Answer from: Quest

Wite quickly without over thinking .

Another question on Business

Business, 21.06.2019 20:30

Which of the following statements is correct? a) one drawback of forming a corporation is that it generally subjects the firm to additional regulationsb) one drawback of forming a corporation is that it subjects the firms investors to increased personal liabilitiesc) one drawback of forming a corporation is that it makes it more difficult for the firm to raise capitald) one advantage of forming a corporation is that it subjects the firm's investors to fewer taxese) one disadvantage of forming a corporation is that it is more difficult for the firm's investors to transfer their ownership interests

Answers: 1

Answer

Business, 22.06.2019 11:50

The smelting department of kiner company has the following production and cost data for november. production: beginning work in process 3,700 units that are 100% complete as to materials and 23% complete as to conversion costs; units transferred out 10,500 units; and ending work in process 8,100 units that are 100% complete as to materials and 41% complete as to conversion costs. compute the equivalent units of production for (a) materials and (b) conversion costs for the month of november. materials conversion costs total equivalent units

Answers: 1

Answer

Business, 22.06.2019 12:00

In mexico, many garment or sewing shops found they could entice many young people to work for them if they offered clean, air conditioned work areas with high-quality locker rooms to clean up in after the work day. typically, traditional garment shops had to offer to get workers to apply for the hard, repetitive, and somewhat dangerous work. a. benchmark competitive wages b.compensating differentials c. monopoly wages d. wages based on human capital development of each employee

Answers: 3

Answer

Business, 22.06.2019 13:40

Jacob is a member of wcc (an llc taxed as a partnership). jacob was allocated $155,000 of business income from wcc for the year. jacob’s marginal income tax rate is 37 percent. the business allocation is subject to 2.9 percent of self-employment tax and 0.9 percent additional medicare tax. (round your intermediate calculations to the nearest whole dollar a) what is the amount of tax jacob will owe on the income allocation if the income is not qualified business income? b) what is the amount of tax jacob will owe on the income allocation if the income is qualified business income (qbi) and jacob qualifies for the full qbi duduction?

Answers: 2

Answer

You know the right answer?

The fasb's standard-setting process includes, in the correct order: exposure draft, research, discu...

Questions