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Why is demonstrating financial accountability an imperative for marcom practitioners?
Wiki User
∙ 9y ago
Demonstrating financial accountability gives confidence to investors since it assures of security. It is also a way of showing professionalism and good management skills.
Wiki User
∙ 9y ago
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What is the cornerstone of external financial reporting for governmental units and non profit organizations?
accountability
What is financial stewardship?
Financial stewardship is when one entity assumes the financial responsibilities for another entity. The steward would be expected to act in the best intentions for the entity in terms of financial planning, investments and accountability.
What is the differences between decision usefulness and accountability objectives of general purpose financial reporting?
Accountability is the classical view on financial reports meaning u should report as close to real world as possible. Decission usefullness is about reporting as what should be best for decissionmakers(investors)
What is the definition of financial stewardship?
Financial stewardship is the assumption of responsibility of the financial well being of another or a group. The expectation being that this responsibility will be carried out with great care, keeping in mind the good of the individual or group being served. Financial stewards have been entrusted with the financial resources of another. There is an expectation of care to be followed when acting as a steward. A financial steward would be expected to make those decisions which would best benefit the individual or group whose financial assets are being cared for; managing expenses, responsible investing, and accountability.
Difference between cost accounting and financial accouting?
Cost Accounting is Management Accounting which is about internal planning, budgeting, cost analysis, and control. Management is accountable, to various stakeholders of the company for being productive and maximizing return on owner investment whilst obeying laws and paying taxes.Financial accounting satisfies Managements accountability to external users of the company's financial reports that report on the company as a whole. Reports must be produced in accordance with GAAP ( reports that show results of operations, financial position, and cash flows). Such as owners and creditors, regulatory agencies such as the SEC and the IRS, and customers.
What is accountability data?
what is financial accounting?
What does the financial analysis do?
The government Accountability Office developed what concept
What does the financial analysis officer?
The government Accountability Office developed what concept
What does the financial analysis office do?
The government Accountability Office developed what concept
What are the methods of financial accountability?
production of documentary evidencebooks of accountsfinancial reportoutput or result
What do insolvency practitioners do?
Insolvency practitioners are licensed professionals who specialize in helping individuals and businesses navigate financial difficulties. They assess the financial situation, develop a strategy to address the insolvency, and work with creditors to negotiate repayment plans or handle insolvency proceedings. Their goal is to maximize returns to creditors while helping the insolvent party resolve their financial issues.
What are the various methods of financial accountability?
production of documentary evidencebooks of accountsfinancial reportoutput or result
What is the cornerstone of external financial reporting for governmental units and non profit organizations?
accountability
What is financial stewardship?
Financial stewardship is when one entity assumes the financial responsibilities for another entity. The steward would be expected to act in the best intentions for the entity in terms of financial planning, investments and accountability.
What is the differences between decision usefulness and accountability objectives of general purpose financial reporting?
Accountability is the classical view on financial reports meaning u should report as close to real world as possible. Decission usefullness is about reporting as what should be best for decissionmakers(investors)
Who are the entities enterested in accounting?
All companies or organizations in need of maintaing good financial accountability for their operations.
Why are financial accounting standards important?
These standards are important because external financial reporting can demonstrate financial accountability to the public. They are the basis for many legislative and regulatory decisions, as well as investment and credit policies.
