Asked in College Applications and Entrance Requirements, Waste and Recycling, Oil Spills, Water Pollution
What are the components of control environment in financial reporting?
there are 3 component of financial environment. there are financial manager, financial markets and investors ( including creditor). ...
What is a financial system?
Financial system is a system used by organizationÕs management to exercise financial control and accountability. It allows transfer of money between savers and borrowers. ...
What is the meaning of financial statement level risk?
Financial statement level risks are risks of materials misstatement of the financial statements. These are the same for both audit of financial statements and audit of internal control. ...
Asked in Business Accounting and Bookkeeping
Why management accounting effective tool for financial control?
You need to keep track of your finances in order to keep a budget. If everyone is spending whatever they want, your financial control goes away and you will be in debt. ...
Asked in Business & Finance
Three internal control objectives for financial reporting?
There are actually four internal control objectives of financial reporting. They are 1) Control Environment 2) Risk Assessment 3) Information and Communication Systems 4) Monitoring. These internal control objectives help aid in presenting financial statements that are free of material misstatements. But just because internal control measures are implemented, doesn't mean people cannot circumvent those controls. ...
Asked in Business Accounting and Bookkeeping, Tax Audits, Financial Statements, The Difference Between
Can a audit be qualified based on internal control on financial reporting?
Can not answer this question - reword it.
Asked in Economics, Banking
What is the role of banking in national development?
The role of banking in national development is : 1- to control and adjust the rate of foreign exchange . 2- to control the financial stability of the country. 3- to control the interest rate. 4- to control the inflation and deflation. 5- to supply and distribute money equally. 6-mobilise financial resources 7-play advisory role in development ...
Asked in Business Plans
A financial factor in family planning?
Money is always involve in family planning as it sustains the needs of each family member. Proper financial planning results to good financial status. This is the reason why there are families who hire financial planners with good CFP education to control their finances. ...
Asked in Business Finance, Financial Statements
Define financial system?
Financial system is the processes and procedures used by a firm's management to exercise financial control and accountability. These measures include ecording, verification and timely reporting of transactions that affect revenues, expenditures, assets and liabilities. ...
Asked in Depression and Bipolar Disorder
You are feeling axious and depressed about your financial situation?
There is free financial advice available. Search for it in your area. Taking some positive steps, even though it is scary, will help you feel in control, and should help your depression and your financial situation. ...
What does the focus for control shift to in activity-based management?
The focus for control is shifted away from the financial measurement of resources to activities that cause costs to be incurred. ...
Asked in Business Finance, Financial Statements
How does the credit control impact on the financial statements?
There is a tendency among business houses to rush for more credits. Since all credits bear interest rather on the higher side, there is need for credit control from the management. Effective credit control has a positive bearing on the financial statement with minimization of liabilities and brighter aspect on the asset segment of the company. ...
What is nature and scope of financial management?
1.estimating financial requriments. 2.selecting a source of finance. 3.selecting a pattern of investment. 4.proper cash management. 5.implementing financial control. 6.proper use of surplus. ...
How may the success of internal control systems be measured?
Internal control would be judged as effective if its components are present and function effectively for operations, financial reporting, and compliance. ...
Reasons to Use a Gas Bill Estimator?
Using a gas bill estimator has truly become a necessity, given the current economic conditions. Many people feel their financial situations have become out of control, and they have no idea how to gain some sort of control over such situations. One way to gain control over a financial situation is to simply create a budget. Creating a budget will allow a person to feel empowered in a financial situation that is completely out of control. A person can then use a...