What organization set the accounting standards for private sector organization in the US?

What organization set the accounting standards for private sector organization in the US?
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What is the purpose of the Financial Accounting Standards Board?

Description : What is the purpose of the Financial Accounting Standards Board?

Last Answer : The purpose of the Financial Accounting Standards Board is todevelop (GAAP) generally accepted accounting principles in the USthat are in the public's interest.

.In financial statement audits, the audit process should be conducted in accordance with a. The audit program b. Philippine Accounting Standards c. Philippine Standards on Auditing d. Philippine Financial Reporting Standards

Description : .In financial statement audits, the audit process should be conducted in accordance with a. The audit program b. Philippine Accounting Standards c. Philippine Standards on Auditing d. Philippine Financial Reporting Standards

Last Answer : Philippine Standards on Auditing

It involves a study or evaluation of the quality of audit of financial statements through a review of quality control measures established by on CPA firms and individual CPAs in public practice to ensure compliance with accounting and auditing standards and practices a. External audit b. Compliance audit c. Peer review d. Quality review

Description : It involves a study or evaluation of the quality of audit of financial statements through a review of quality control measures established by on CPA firms and individual CPAs in public practice to ... standards and practices a. External audit b. Compliance audit c. Peer review d. Quality review

Last Answer : Quality review

Most accounting and auditing professionals agree that when an audit has failed to uncover material misstatements, and the wrong type of audit opinion is issued, the audit firm a. Has failed to follow generally accepted auditing standards (GAAS). b. Should be asked to defend thequality of the audit.c. Deserves to lose the lawsuit.d. Should not be held responsible for thefinancial loss suffered loss suffered byothers

Description : Most accounting and auditing professionals agree that when an audit has failed to uncover material misstatements, and the wrong type of audit opinion is issued, the audit firm a. Has failed to ... lawsuit. d. Should not be held responsible for the financial loss suffered loss suffered by others

Last Answer : Should be asked to defend the quality of the audit

How frequent can a professional accountants have press and other media releases commemorating their anniversaries in public practice by informing the public of their achievements or accomplishments in contributing toward nation building or enhancing the image or standards of the accounting profession? a. 2 years b. 3 years c. 5 years d. 6 years

Description : How frequent can a professional accountants have press and other media releases commemorating their anniversaries in public practice by informing the public of their achievements or accomplishments in contributing toward nation building ... profession? a. 2 years b. 3 years c. 5 years d. 6 years

Last Answer : 5 years

Generally accepted accounting principles (GAAP) are distinguished from generally accepted auditing standards (GAAS) in that: a. GAAP are the principles auditors follow when conducting an audit, while GAAS are the standards for presentation of financial statements and underlying transactions. b. GAAP are the principles for presentation of financial statements and underlying transactions, while GAAS are the standards that the auditors should follow when conducting an audit. c. When GAAP are violated, sufficiently strong GAAS may make up for most GAAP deficiencies. d. GAAP are promulgated by the SEC, while GAAS are promulgated by the PFRC

Description : Generally accepted accounting principles (GAAP) are distinguished from generally accepted auditing standards (GAAS) in that: a. GAAP are the principles auditors follow when conducting an audit, while GAAS ... deficiencies. d. GAAP are promulgated by the SEC, while GAAS are promulgated by the PFRC

Last Answer : GAAP are the principles for presentation of financial statements and underlying transactions, while GAAS are the standards that the auditors should follow when conducting an audit.

In financial statement audits, the audit process should be conducted in accordance with a. Philippine Financial Reporting Standards b. International Accounting Standards c. Philippine Standards on Auditing d. Philippine Accounting Standards

Description : In financial statement audits, the audit process should be conducted in accordance with a. Philippine Financial Reporting Standards b. International Accounting Standards c. Philippine Standards on Auditing d. Philippine Accounting Standards

Last Answer : Philippine Standards on Auditing

Which of the following mostly describes the function of AASC? a. To monitor full compliance by auditors to PSAs. b. To assist the Board of Accountancy in conducting administrative proceedings on erring CPAs in audit practice. c. To promulgate auditing standards, practices and procedures that shall be generally accepted by the accounting profession in the Philippines. d. To undertake continuing research on both auditing and financial accounting in order to make them responsive to the needs of the public

Description : Which of the following mostly describes the function of AASC? a. To monitor full compliance by auditors to PSAs. b. To assist the Board of Accountancy in conducting administrative proceedings on ... both auditing and financial accounting in order to make them responsive to the needs of the public

Last Answer : To promulgate auditing standards, practices and procedures that shall be generally accepted by the accounting profession in the Philippines.

Which of the following best describes what is meant by generally accepted auditing standards? a. Pronouncements issued by the Auditing and Assurance Standards Council. b. Rules acknowledged by the accounting profession because of their universal compliance. c. Procedures to be used to gather evidence to support financial statements. d. Measures of the quality of the auditor's performance

Description : Which of the following best describes what is meant by generally accepted auditing standards? a. Pronouncements issued by the Auditing and Assurance Standards Council. b. Rules acknowledged by the ... evidence to support financial statements. d. Measures of the quality of the auditor's performance

Last Answer : Measures of the quality of the auditor's performance

Which one of the following is not a key attribute that is essential to perform an assurance service? a. Independence b. Accounting skills c. Established criteria or standards d. Subject matter knowledge

Description : Which one of the following is not a key attribute that is essential to perform an assurance service? a. Independence b. Accounting skills c. Established criteria or standards d. Subject matter knowledge

Last Answer : Accounting skills

The risk that the audit will fail to uncover a material misstatement is eliminated a. When the auditor has complied with generally accepted auditing standards. b. If client has good internal control. c. If client follows generally accepted accounting principles. d. Under no circumstances

Description : The risk that the audit will fail to uncover a material misstatement is eliminated a. When the auditor has complied with generally accepted auditing standards. b. If client has good internal control. c. If client follows generally accepted accounting principles. d. Under no circumstances

Last Answer : Under no circumstances

The risk that the audit will fail to uncover a material misstatement is eliminated a. When the auditor has complied with generally accepted auditing standards. b. If a client has strong internal controls. c. If a client follows generally accepted accounting principles. d. Under no circumstances

Description : The risk that the audit will fail to uncover a material misstatement is eliminated a. When the auditor has complied with generally accepted auditing standards. b. If a client has strong internal controls. c. If a client follows generally accepted accounting principles. d. Under no circumstances

Last Answer : Under no circumstances

Which of the following best describes why publicly-traded corporations follow the practice of having the outside auditor appointed by the board of directors or elected by the stockholders? a. To comply with the regulations of the Accounting Standards Council. b. To emphasize auditor independence from the management of the corporation. c. To encourage a policy of rotation of the independent auditors. d. To provide the corporate owners with an opportunity to voice their opinion concerning the quality of the auditing firm selected by the director

Description : Which of the following best describes why publicly-traded corporations follow the practice of having the outside auditor appointed by the board of directors or elected by the stockholders? a. ... opportunity to voice their opinion concerning the quality of the auditing firm selected by the director

Last Answer : To emphasize auditor independence from the management of the corporation

For initial audits, additional matters the auditor may consider in the overall audit strategy and audit plan include the following except a. Major issues including the application of accounting principles or any auditing and reporting standards discussed with management. b. Confirmation of material accounts receivable balance at the end of the year. c. Planned audit procedure to obtain sufficient appropriate audit evidence regarding opening balances. d. Assignment of firm personnel with appropriate levels of capabilities and competence to respond to anticipated significant risks

Description : For initial audits, additional matters the auditor may consider in the overall audit strategy and audit plan include the following except a. Major issues including the application of ... firm personnel with appropriate levels of capabilities and competence to respond to anticipated significant risks

Last Answer : Confirmation of material accounts receivable balance at the end of the year.

A violation of the ethical standards would most likely have occurred when a CPA a. Made arrangement with a bank to collect notes issued by a client in payment of fees due. b. Joined an accounting firm made up of three non-CPA practitioners. c. Issued an unqualified opinion on the 2006 financial statements when fees for the 2005 audit were unpaid. d. Purchased a bookkeeping firm's practice of monthly write-ups for a percentage of fees received over a three-year period

Description : A violation of the ethical standards would most likely have occurred when a CPA a. Made arrangement with a bank to collect notes issued by a client in payment of fees due. b. Joined an ... bookkeeping firm's practice of monthly write-ups for a percentage of fees received over a three-year period

Last Answer : Issued an unqualified opinion on the 2006 financial statements when fees for the 2005 audit were unpaid

If an auditor had a substantial stock investment in a client that s(he) was auditing, which of the following would be true? a. The auditor would lack independence. b. The auditor would be violating the PASB standards. c. The auditor would be violating the Institute of Management Accounting standards d. The auditor would be violating the IIA standards

Description : If an auditor had a substantial stock investment in a client that s(he) was auditing, which of the following would be true? a. The auditor would lack independence. b. The auditor ... be violating the Institute of Management Accounting standards d. The auditor would be violating the IIA standards

Last Answer : The auditor would lack independence

A violation of the ethical standards would most likely have occurred when a CPA a. Made arrangement with a bank to collect notes issued by a client in payment of fees due. b. Joined an accounting firm made up of three non-CPA practitioners. c. Issued an unqualified opinion on the 2010 financial statements when fees for the 2009 audit were unpaid. d. Purchased a bookkeeping firm's practice of monthly write-ups for a percentage of fees received over a three-year period.

Description : A violation of the ethical standards would most likely have occurred when a CPA a. Made arrangement with a bank to collect notes issued by a client in payment of fees due. b. Joined an accounting ... firm's practice of monthly write-ups for a percentage of fees received over a three-year period.

Last Answer : Issued an unqualified opinion on the 2010 financial statements when fees for the 2009 audit were unpaid

Which of the following is one of the functions of Quality Review Committee: a. To promulgate accounting and auditing standards that will be generally accepted in the Philippines. b. To conduct a review on applicants for registration to practice public accountancy and render a report which shall be attached to the application for registration. c. To adopt a Code of Ethics for the practice of accountancy. d. To evaluate periodically the performance of educational institutions offering accountancy education.

Description : Which of the following is one of the functions of Quality Review Committee: a. To promulgate accounting and auditing standards that will be generally accepted in the Philippines. ... accountancy. d. To evaluate periodically the performance of educational institutions offering accountancy education.

Last Answer : To conduct a review on applicants for registration to practice public accountancy and render a report which shall be attached to the application for registration.

This standard-setting body replaces the Auditing Standards and Practices Council (ASPC) and is tasked to develop and issue Philippine Standards on Auditing and related Interpretations: a. Accounting Standards Board. b. Financial Reporting Standards Committee. c. Financial Reporting Standards Council. d. Auditing and Assurance Standards Council.

Description : This standard-setting body replaces the Auditing Standards and Practices Council (ASPC) and is tasked to develop and issue Philippine Standards on Auditing and related Interpretations: a. ... Committee. c. Financial Reporting Standards Council. d. Auditing and Assurance Standards Council.

Last Answer : Auditing and Assurance Standards Council.

This is the standard-setting body that replaces the Accounting Standards Council (ASC) and is tasked to develop and issue standards which will represent generally accepted accounting principles in the Philippines: a. Accounting Standards Board. b. Financial Reporting Standards Committee. c. Financial Reporting Standards Council. d. Auditing and Assurance Standards Council.

Description : This is the standard-setting body that replaces the Accounting Standards Council (ASC) and is tasked to develop and issue standards which will represent generally accepted accounting principles in ... Committee. c. Financial Reporting Standards Council. d. Auditing and Assurance Standards Council.

Last Answer : Financial Reporting Standards Council.

The auditor's judgment concerning the overall fairness of presentation of financial position, results of operation, and changes in cash flow is applied within the framework of a. Generally accepted auditing standards which include the concept of materiality b. Generally accepted accounting principles. c. Philippine Financial Reporting Standards d. Quality control

Description : The auditor's judgment concerning the overall fairness of presentation of financial position, results of operation, and changes in cash flow is applied within the framework of a. ... b. Generally accepted accounting principles. c. Philippine Financial Reporting Standards d. Quality control

Last Answer : Philippine Financial Reporting Standards

In the case of an audit of financial statements, which of the following would not be a valid criterion in ascertaining the degree of correspondence between assertions and established criteria? a. International Accounting Standards b. Philippine Accounting Standards c. Philippine Standards on Auditing d. Philippine Financial Reporting Standards

Description : In the case of an audit of financial statements, which of the following would not be a valid criterion in ascertaining the degree of correspondence between assertions and established ... . Philippine Accounting Standards c. Philippine Standards on Auditing d. Philippine Financial Reporting Standards

Last Answer : Philippine Standards on Auditing

CAGE framework measures the match between countries and companies according to dimensions of distance. A stands for..? A. Administrative & Political B. Accounting Standards C. Acquisitions D. Articulation

Description : CAGE framework measures the match between countries and companies according to dimensions of distance. A stands for..? A. Administrative & Political B. Accounting Standards C. Acquisitions D. Articulation

Last Answer : Administrative & Political

The goal of corporate governance and business ethics education is to: A. Teach students their professional accountability and to uphold their personalIntegrity to society. B. Change the way in which ethics is taught to students. C. Create more ethics standards by which corporate professionals must operate. D. Increase the workload for accounting students.

Description : The goal of corporate governance and business ethics education is to: A. Teach students their professional accountability and to uphold their personalIntegrity to society. B. Change the ... standards by which corporate professionals must operate. D. Increase the workload for accounting students.

Last Answer : Create more ethics standards by which corporate professionals must operate.

The goal of corporate governance and business ethics education is to: A. Teach students their professional accountability and to uphold their personal B. Integrity to society. C. Change the way in which ethics is taught to students. D. Create more ethics standards by which corporate professionals must operate. E. Increase the workload for accounting students

Description : The goal of corporate governance and business ethics education is to: A. Teach students their professional accountability and to uphold their personal B. Integrity to society. C. Change ... standards by which corporate professionals must operate. E. Increase the workload for accounting students

Last Answer : C. Change the way in which ethics is taught to students.

The goal of corporate governance and business ethics education is to: A. Teach students their professional accountability and to uphold their personal Integrity to society. B. Change the way in which ethics is taught to students. C. Create more ethics standards by which corporate professionals must operate. D. Increase the workload for accounting students.

Description : The goal of corporate governance and business ethics education is to: A. Teach students their professional accountability and to uphold their personal Integrity to society. B. Change ... standards by which corporate professionals must operate. D. Increase the workload for accounting students.

Last Answer : C. Create more ethics standards by which corporate professionals must operate.

What are the objectives of public sector accounting?

Description : What are the objectives of public sector accounting?

Last Answer : Standards of consistency, quality, information sharing betweenAccountants, and transparency in reporting are the base objectivesof public sectors accounting.

What are the objectives of public sector accounting?

Description : What are the objectives of public sector accounting?

Last Answer : Standards of consistency, quality, information sharing betweenAccountants, and transparency in reporting are the base objectivesof public sectors accounting.

Existing accountant, as defined in the Code of Ethics, means a. A professional accountant employed in industry, commerce, the public sector or education. b. Those persons who hold a valid certificate issued by the Board of Accountancy. c. A professional accountant in public practice currently holding an audit appointment or carrying out accounting, taxation, consulting or similar professional services for a client. d. A sole proprietor, or each partner or person occupying a position similar to that of a partner and each staff in a practice providing professional services

Description : Existing accountant, as defined in the Code of Ethics, means a. A professional accountant employed in industry, commerce, the public sector or education. b. Those persons who hold a valid ... a position similar to that of a partner and each staff in a practice providing professional services

Last Answer : A professional accountant in public practice currently holding an audit appointment or carrying out accounting, taxation, consulting or similar professional services for a client.

What are the three sets of factors that influence the standards of behavior in an organization?

Description : What are the three sets of factors that influence the standards of behavior in an organization?

Last Answer : What is the answer ?

The gradation and standardization of agricultural products are conducted through (1) Food Corporation of India (2) Directorate of Marketing and Inspection (3) Indian Standards Institution (4) Central Statistical Organization

Description : The gradation and standardization of agricultural products are conducted through (1) Food Corporation of India (2) Directorate of Marketing and Inspection (3) Indian Standards Institution (4) Central Statistical Organization

Last Answer : (2) Directorate of Marketing and Inspection Explanation: The Directorate of Marketing and Inspection (DMI) is an attached Office of the Ministry of Agriculture. It was set up in the year ... country. It is entrusted with promotion of standardization and grading of agricultural and allied produce.

What organization has published safety guidelines for the maximum limits of RF energy near the human body? A. The American National Standards Institute (ANSI). B. The Environmental Protection Agency (EPA). C. The Federal Communications Commission (FCC). D. The Institute Of Electrical and Electronics Engineers (IEEE).

Description : What organization has published safety guidelines for the maximum limits of RF energy near the human body? A. The American National Standards Institute (ANSI). B. The Environmental Protection ... Communications Commission (FCC). D. The Institute Of Electrical and Electronics Engineers (IEEE).

Last Answer : A. The American National Standards Institute (ANSI).

The integrated national professional organization of Certified Public Accountants accredited by the BOA and the PRC per PRC accreditation No. 15 dated October 2, 1975. a. Philippine Institute of Certified Public Accountants (PICPA) b. Auditing and Assurance Standards Council (AASC) c. Financial Reporting Standards Council (FRSC) d. Education Technical Council (ETC)

Description : The integrated national professional organization of Certified Public Accountants accredited by the BOA and the PRC per PRC accreditation No. 15 dated October 2, 1975. a. Philippine Institute of Certified ... (AASC) c. Financial Reporting Standards Council (FRSC) d. Education Technical Council (ETC)

Last Answer : Philippine Institute of Certified Public Accountants (PICPA)

Who developed standards for the OSI reference model? a. ISO - International Standards Organization b. ANSI - American National Standards Institute c. IEEE - Institute of Electrical and Electronics Engineers d. ACM - Association for Computing Machinery

Description : Who developed standards for the OSI reference model? a. ISO - International Standards Organization b. ANSI - American National Standards Institute c. IEEE - Institute of Electrical and Electronics Engineers d. ACM - Association for Computing Machinery

Last Answer : a. ISO - International Standards Organization

The acronym OSI stands for in computer networking. a. Open Systems Interconnection b. Organization for Standards Institute c. Organizing Systems Interconnection d. Open Systems Interworking

Description : The acronym OSI stands for in computer networking. a. Open Systems Interconnection b. Organization for Standards Institute c. Organizing Systems Interconnection d. Open Systems Interworking

Last Answer : a. Open Systems Interconnection

What is the name of the organization helping to foster security standards for cloud computing? A. Cloud Security Standards Working Group B. Cloud Security Alliance C. Cloud Security WatchDog D. Security in the Cloud Alliance

Description : What is the name of the organization helping to foster security standards for cloud computing? A. Cloud Security Standards Working Group B. Cloud Security Alliance C. Cloud Security WatchDog D. Security in the Cloud Alliance

Last Answer : Cloud Security Alliance

What is the name of the organization helping to foster security standards for cloud computing? A. Cloud Security Standards Working. B. Cloud Security Alliance. C. Cloud Security WatchDog. D. Security in the Cloud Alliance.

Description : What is the name of the organization helping to foster security standards for cloud computing? A. Cloud Security Standards Working. B. Cloud Security Alliance. C. Cloud Security WatchDog. D. Security in the Cloud Alliance.

Last Answer : Cloud Security Alliance.

What is the name of the organization helping to foster security standards for cloud computing? A. Cloud Security Standards Working Group B. Cloud Security Alliance C. Cloud Security WatchDog D. Security in the Cloud Alliance

Description : What is the name of the organization helping to foster security standards for cloud computing? A. Cloud Security Standards Working Group B. Cloud Security Alliance C. Cloud Security WatchDog D. Security in the Cloud Alliance

Last Answer : Cloud Security Alliance

What is the name of the organization helping to foster security standards for cloud computing? A. Cloud Security Standards Working B. Cloud Security Alliance C. Cloud Security WatchDog D. Security in the Cloud Alliance

Description : What is the name of the organization helping to foster security standards for cloud computing? A. Cloud Security Standards Working B. Cloud Security Alliance C. Cloud Security WatchDog D. Security in the Cloud Alliance

Last Answer : Cloud Security Alliance

Which of the following is an industry organization that develops industry system management standards for platform interoperability? a) DMTF b) DMS c) EBS d) All of the mentioned

Description : Which of the following is an industry organization that develops industry system management standards for platform interoperability? a) DMTF b) DMS c) EBS d) All of the mentioned

Last Answer : DMTF

What is Onion diagram illustrates? a) It illustrates the connection between the layers in communications protocols, such as the International Standards Organization Open Systems Interconnection (ISO OSI) model,or the layers in user interface and windowing systems, such as the X Window System b) It often illustrates operating system layers, with the kernel at the core c) All of the mentioned d) None of the mentioned

Description : What is Onion diagram illustrates? a) It illustrates the connection between the layers in communications protocols, such as the International Standards Organization Open Systems Interconnection (ISO OSI) model,or the ... with the kernel at the core c) All of the mentioned d) None of the mentioned

Last Answer : None of the mentioned

Quality management system of a organization based on which pillars a) Test plans, Test conditions & decisions b) Quality processes, Guidelines and standards & Formats and templates c) Quality police, objectives and manuals

Description : Quality management system of a organization based on which pillars a) Test plans, Test conditions & decisions b) Quality processes, Guidelines and standards & Formats and templates c) Quality police, objectives and manuals 

Last Answer : Ans : b

Why type of accounting-public private or governmental-appeals to you the most Why?

Description : Why type of accounting-public private or governmental-appeals to you the most Why?

Last Answer : Need answer

Security methods such as private encryption, VLANs and firewalls comes under __________ subject area. a) Accounting Management b) Compliance c) Data Privacy d) All of the mentioned

Description : Security methods such as private encryption, VLANs and firewalls comes under __________ subject area. a) Accounting Management b) Compliance c) Data Privacy d) All of the mentioned

Last Answer : Data Privacy

Following statements are talking about………. 1. It's more complex than a hybrid cloud, which is typically a paired private and public cloud. 2. This cloud add more clouds to the mix, perhaps two or more public IaaS providers, a private PaaS, on-demand management and security systems from public clouds, private use-based accounting A. Multi-Cloud B. Private Cloud C. Business Cloud D. Storage Cloud

Description : Following statements are talking about . 1. It's more complex than a hybrid cloud, which is typically a paired private and public cloud. 2. This cloud add more clouds to the mix, perhaps two ... , private use-based accounting A. Multi-Cloud B. Private Cloud C. Business Cloud D. Storage Cloud

Last Answer : Multi-Cloud

Would it be viable for the USA to create a designated town for the homeless where it would be government or private sector funded similar to retirement homes?

Description : Would it be viable for the USA to create a designated town for the homeless where it would be government or private sector funded similar to retirement homes?

Last Answer : ~They do It is called Detroit. It sounds like the sanctuary’s from Star Trek Deep Space 9 where Ben Sisko traveled back in time to the rounding up of homeless people into sealed communities.

What do you think about the private sector taking over space exploration?

Description : What do you think about the private sector taking over space exploration?

Last Answer : i think that if it means further investigation into the unknown by the greedy, than so be it. it needs to be heavily regulated and mandated though to avoid fuck ups.

(a) 1. Name the private sector iron and steel plant of India. [2] 2. From where does it get its supply of: 1. Iron ore 2. Manganese 3. Coal? -Geography

Description : (a) 1. Name the private sector iron and steel plant of India. [2] 2. From where does it get its supply of: 1. Iron ore 2. Manganese 3. Coal? -Geography

Last Answer : 1. Tata Iron and Steel Industry, Jamshedpur. 2. 1. Iron Ore: Singhbhum, Mayurbhanj. 2. Manganese: Noamundi. 3. Coal: Jharia.

Name one integrated iron and steel plant in the private sector. Where does it obtain its iron and coal from ? -Geography

Description : Name one integrated iron and steel plant in the private sector. Where does it obtain its iron and coal from ? -Geography

Last Answer : Integrated steel plant in private sector is Tata Iron and Steel Company (TISCO). It obtains its iron from Singhbhum and Mayurbhanj and coal from Jharia.