Which of the following is not a characteristics of a coherent financial reporting framework?
标题: Reading 31: Financial Reporting Standards LOS g习题精选 [打印本页] Show
作者: honeycfa 时间: 2010-4-17 20:41 标题: [2010]Session 7-Reading 31: Financial Reporting Standards LOS g习题精选 LOS g: Identify the characteristics of a coherent financial reporting framework and barriers to creating a coherent financial reporting network. Disagreements that inhibit development of a coherent financial reporting framework are least likely to involve which of the following? There is widespread agreement that transparency is desirable in financial reporting. Disagreements that inhibit development of a single framework often arise around issues of measurement, valuation, and standard setting. 作者: honeycfa 时间: 2010-4-17 20:41 Which of the following is least likely to be considered a characteristic of a coherent financial reporting framework? Financial reporting should be transparent and comprehensive. Stability of accounting information is not a characteristic of a coherent reporting framework.
Why should I choose AnalystNotes?Simply put: AnalystNotes offers the best value and the best product available to help you pass your exams. Subject 6. Effective Financial Reporting PDF DownloadEffective financial reporting frameworks share three characteristics:
Barriers to a Single Coherent Framework Effective standards can have conflicting approaches on valuation, the bases for standard setting, and resolution of conflicts between balance sheet and income statement focuses.
Learning Outcome Statements g. identify characteristics of a coherent financial reporting framework and the barriers to creating such a framework; CFA® 2022 Level I Curriculum, Volume 2, Module 16 User Contributed Comments 8
You need to log in first to add your comment. Which of the following is not one of the elements of financial reporting?Explanation Cash flows are reported but they are not an element. The elements are assets, liabilities, income (revenues), expenses and equity.
What are the features of financial reporting framework?A framework should enhance the transparency of a company's financial statements. Transparency means that users should be able to see the underlying economics of the business reflected clearly in the company's financial statements. Full disclosure and fair presentation create transparency.
Which one of the following is not one of the enhancing qualitative characteristics of financial reporting?A is correct. Accuracy is not an enhancing qualitative characteristic. Faithful representation, not accuracy, is a fundamental qualitative characteristic.
What are qualitative characteristics of financial statements according to the framework?The two fundamental qualitative characteristics of financial reports are relevance and faithful representation. The four enhancing qualitative characteristics are comparability, verifiability, timeliness and understandability.
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