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Q. Show accounting deception situations?
In 2002 The Sarbanes-Oxley Act was approved. The Act was approved as one result of the large losses to the employees and investors from accounting deception situations involving companies such as Enron and WorldCom. The Act makes the Public Company Accounting Oversight Board. The Board have five members appointed and overseen by the Securities and Exchange Commission. The Board investigates and oversees the audits and auditors of public companies and can sanction both firms and individuals for violations of regulations, laws, and rules. The Chief Financial Officer and Chief Executive Officer of a public company must now certify the company's financial statements. Corporate audit committees before the corporate management are now responsible for compensating, hiring, and overseeing the external auditors.
Q. What is Intangible Assets? Intangible assets consist of the nonmonetary, noncurrent, nonphysical assets of a business. Companies should charge the costs of intangible assets
Question 1: What are the kinds of inventory? Transaction inventory Speculative inventory Precautionary inventory Question 2: Explain in brief the invent
10% preference share 336 ooo ordinary share capital 480 000 prepare a statement of profit or loss
what are the limitation
WHAT IS ACCOUNTING STANDARDS
Personal accounts --> Debit the benefit receiver, credit the benefit giver Real accounts --> Debit what comes in, credit what goes out Nominal Accounts --> Debit all expenses
Q. Explain about Modifying conventions? In certain examples companies don't strictly apply accounting principles because of modifying conventions (or constraints). Modifying co
AL MASA a sole trader,decided to install a new machine to use
which account rules
BRS - Bank Reconciliation Statement A bank reconciliation statement is a declaration organized by organizations to reconcile the balance of cash at bank in a company's own rec
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