Iirc - Study guides, Class notes & Summaries

The International Integrated Reporting Framework Questions And Answers With Verified Solutions Already Passed!!!

Chapter 1 -questions and answers with rationale Accounting Standards Board (AcSB) The group primarily responsible for setting GAAP in Canada, which publishes the CPA Canada Handbook and other authoritative documents. Accounting Standards for Private Enterprises (ASPE) The financial reporting standards applicable to private entities in Canada. Private entities may also use IFRS. Accounting Standards Oversight Council (AcSOC) The group that provides oversight to AcSB Acivities su...

1. Target Costing Formula Expected Selling Price - Required Profit 2. Cost Gap Current/estimated cost - target cost 3. Addressing cost gap? 4. Life Cycle Cost- ing (LCC) 5. Product Life Cy- cle (PLC) 6. Product Life Cy- cle - Introductory Stage 7. price penetration strategy 8. price skimming strategy How to reduce cost/identify where excess cost coming from? One way to do this may be to mechanize the pro- duction process to reduce wastage accumulation of costs for act...

ACCO 310 Chapter 1, questions and answers latest updated | graded A+ Financial Reporting -Process of preparing financial reports (statements) for external and internal users -The primary objective of financial reporting is to aid current and potential stakeholders in their decision making, particularly with respect to lending money or investing in the company In Canada, public companies must follow International Financial Reporting Standards (IFRS) Canadian companies will follow U.S...

What is Natural capital? - CORRECT ANSWERS-All renewable and non-renewable environmental resources, including air, water, land, minerals and forest What is risk management? - CORRECT ANSWERS-The identification, as ses sment and prioritisation of risks followed by coordinated and economical application of resources to minimise, monitor and control the probability and impact of unfortunate events What are the 5 steps of risk management? - CORRECT ANSWERS-1. Identify threats 2. Assess the ris...

- answer- What is the historical evolution of disclosure? Why is that relevant today? - answer-x How and why has sustainability accounting and disclosure evolved to supplement financial A&D? - answer- Characteristics of SASB D&A - answer-D&A metrics contextualize understanding of a firm's operations and strategic initiatives What is SICS? - answer-Sustainable Industry Classification System create and outline SASB Sectors and Industries Classification system to meet the needs of u...