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Which control principles suggests that managers should be informed about a problem only when the data shows a significant deviation from established standards?
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Does the coach set the standard for a baseball team or does the umpire or even the player?
Asked in Statistics, Math and Arithmetic
Deviation from explosive safety standards must only result?
Asked in Financial Statements
Requires that accounting standards be followed for all significant items?
What is the difference between authority and legitimacy?
What generally accepted accounting principles are designated under Category A in the GAAP hierarchy?
Asked in Accounts Payable
Who formulated the General accepted accounting principles?
Where did OSHA standards come from?
What is the difference between accounting concepts and accounting standards?
What were the historical antecedents to the Financial Accounting Standards Board?
What are the advantage and disadvantage of coding standards?
Advantages Consistent conventions, patterns and/or processes to follow Standards should be treated as an INTERFACE for programmers to read and write codes Disadvantages Standards means the rules are enforced. To enforce them, code review must be conducted. To perform code reviews, more rules will need to be established (snowball effect) Need to have the authority and another set of rules to conduct code reviews (to enforce the standards). (I've encountered the violation of standards being spotted in the code reviews, mentioning them were the only outcome. The reviews were just a formality to kill time.) When it's wrong, it may be a rotten apple to ruin the whole basket of them (the entire standards) Standards means deviation will happen. Any deviation will need to be approved. But then, when there are more approved deviations than the standards, the standards may be meaningless. Standards should be reviewed from time to time: today's good idea will be bad tomorrow With a "standard" become a habit for quite awhile, it will be hard to break away from it The standards were not carefully thought out. The rules or principles were carried over to a different programming language, but cannot or should not be applied when codes are written in a different one (code conversion). One computer language should have its own coding standards if there are standards. When there are 2 computer languages used at the same time (C# and Sql is fairly common to work together), the rules may be very confusing and even against each other.
What is the difference between IAS and IFRS?
One of the major differences is that the series of standards in the IAS were published by the International Accounting Standards Committee (IASC) between 1973 and 2001, whereas, the standards for the IFRS were published by the International Accounting Standards Board (IASB), starting from 2001. When the IASB was established in 2001, it was agreed to adopt all IAS standards, and name future standards as IFRS. One major implication worth noting, is that any principles within IFRS that may be contradictory, will definitely supersede those of the IAS. Basically, when contradictory standards are issued, older ones are usually disregarded.
What board is responsible for accounting standards?
Asked in Business Accounting and Bookkeeping
Who is presently the dominant body in the development of accounting principles?
Asked in UK Colleges and Universities
Which set of principles are essential to uphold high ethical standards of behavior that leaders must adhere to?
Asked in Financial Statements
What is the difference between Indian accounting standards and IFRS?
GAAP Stands for Generally Accepted Accounting Principles. Accounting Standardards are issued by the Institute of Chartered Accountants of India (ICAI). This is the largest accounting body in the country. Now the Accounting Standards are 29.Accounting Standards are prepared by expert persons.Generally Accepted Accounting Principles means just like Accounting Concept which means every person can accept this principles.