WALL STREET PREP ACCOUNTING EXAM WITH QUESTIONS AND WELL VERIFIED ANSWERS [GRADED A+] 2024 [NEW!!NEW!!!
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Course
Ati pn comprehensive exit 2020
Institution
Ati Pn Comprehensive Exit 2020
WALL STREET PREP ACCOUNTING EXAM WITH
QUESTIONS AND WELL VERIFIED ANSWERS [GRADED
A+] 2024 [NEW!!NEW!!!]
FASB - ANS--Financial Accounting Standards Board, which oversees
GAAP through issuance of SFAS, oversight by the SEC
SFAS - ANS--Standard Financial Accounting Statements, issued by
the...
WALL STREET PREP ACCOUNTING EXAM WITH
QUESTIONS AND WELL VERIFIED ANSWERS [GRADED
A+] 2024 [NEW!!NEW!!!]
FASB - ANS✔✔--Financial Accounting Standards Board, which oversees
GAAP through issuance of SFAS, oversight by the SEC
SFAS - ANS✔✔--Standard Financial Accounting Statements, issued by
the FASB
AA,P,C: Historical Cost - ANS✔✔--The principle that resources and liabilities
are recorded at their initial cost rather than a continuously updating value
AA,P,C: Revenue Recognition - ANS✔✔--The principle that revenues are
recorded when EARNED and MEASURABLE
AA,P,C: Matching - ANS✔✔--The principle that costs must be recorded in
the same period that revenues were generated
, AA,P,C: Disclosure - ANS✔✔--The principle that a corporation must reveal
all relevant financial information
AA,P,C: Accounting Entity - ANS✔✔--The assumption that a corporation is
an entity separate from any person
AA,P,C: Going Concern - ANS✔✔--The Assumption that a corporation will
continue to exist for the foreseeable future
AA,P,C: Measurement & Units - ANS✔✔--The principle that financial
statements can only show the quantifiable assets or liabilities of a corporation
AA,P,C: Periodicity - ANS✔✔--the principle that financial statements reflect
a standard period of time, usually years or quarters
AA,P,C: Estimates and Judgement - ANS✔✔--The constraint that
estimates/predictions cannot always be accurate
AA,P,C: Materiality - ANS✔✔--The constraint that one transaction may be
deemed relevant for one company but not another, usually based on size
AA,P,C: Consistency - ANS✔✔--The constraint that recording methods and
assumptions may not always be the same over time
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