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What is the objective of financial reporting

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Reference no: EM132600776

Questions -

Q1) Name 3 most frequently provided financial statements.

Q2) What is the objective of financial reporting?

Q3) Who is the accounting standard setting body in Canada?

Q4) Who is the accounting standard setting body in Canada?

Q5) Provide 3 examples of regulation changes included in Sarbanes-Oxley Act (SOX).

Q6) Explain the trane-offs that may exist between the 2 qualitative characteristics in the conceptual framework.

Q7) How is a gain different from revenue?

Q8) What is the definition of assets?

Q9) What is the definition of liabilities?

Q10) Name 3 items that are usually included in the current asset section of the balance sheet.

Q11) What is retained earnings?

Q12) What type of subsequent events require an adjustment to the financial statements?

Q13) What are the 3 categories of cash activities on the statement of cash flows?

Reference no: EM132600776

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