accounting 251
opinion
Auditors express a professional __________, Incorrect Unavailable on the compliance of financial statements with GAAP.
is useful to investors and creditors in making decisions tells about economic resources, claims to resources, and changes in resources and claims helps to predict cash flows
Financial accounting should provide information that: (Select all that apply.)
Corporate management
International Financial Reporting Standards.
auditor
The ___________, Incorrect Unavailable adds credibility to a company's financial statements by expressing a professional opinion. (Enter only one word.)
provide useful information for external decision makers
The objective of financial accounting is to:
International Financial Reporting Standards.
The purpose of the International Accounting Standards Board is to develop a single set of global accounting standards, which are referred to as
develop global accounting standards converge national standards with IFRS
The purpose of the International Accounting Standards Board is to: (Select all that apply.)
To add credibility to the financial statements.
What is the purpose of the auditor?
Full-time board members Private sector organization Independence
Which of the following are attributes of FASB? (Select all that apply.)
It facilitates comparison of financial information among companies.
Which of the following is an important purpose of GAAP?
Management
Who has the responsibility to apply accounting standards when communicating with investors and creditors?