The chairman of the FASB at one time noted that the flow of standards can only be
Question:
The chairman of the FASB at one time noted that “the flow of standards can only be slowed if (1) producers focus less on quarterly earnings per share and tax benefits and more on quality products, and (2) accountants and lawyers rely less on rules and law and more on professional judgment and conduct.” Explain his comment.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (14 reviews)
The chairman of the FASB was indicating that too much attention is put on the bottom line and not en...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
Intermediate Accounting
ISBN: 978-0470423684
13th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
Question Posted:
Students also viewed these Accounting questions
-
The chairman of the FASB at one time noted that "the flow of standards can only be slowed if (1) producers focus less on quarterly earnings per share and tax benefits and more on quality products,...
-
Earnings per Share and Dividend Payout Ratio Compute (1) Earnings per share and (2) Dividend payout ratio for Companies S and T. Indicate which of the two companies is more likely to be an older...
-
Explain the difference between basic earnings per share and diluted earnings per share.
-
Fill in the missing mass number and atomic number for each of these particles or types of radiation. alpha (?) He beta (?) e gamma y neutron n
-
The following is from a message by President Herbert Hoover to Congress, dated May 5, 1932: I need not recount that the revenues of the Government as estimated for the next fiscal year show a...
-
Match each of the following structures with the IR data that correspond best. Abbreviations: w. weak; m, medium: s, strong; br, broad, (a) 905 (s), 995 (m), 1040 (m), 1640 (m), 2850-2980 (s), 3090...
-
Once a salesperson sees one or more buying signals from a prospect, he or she should trial close. What happens if the prospect doesnt close at that point? Why is this outcome actually favorable for...
-
The administrator of elections for the city of Crossville has been asked to perform an activity analysis of its optical scanning center. The optical scanning center reads voter forms into the...
-
David has borrowed $600 from the bank. The bank is charging him an interest of 18.39% compounded monthly. David would like to pay back the entire loan with a single payment 3 years from today. How...
-
A ride hailing company has their DB structured in 3 major tables as described in the SCHEMA section below. Write a query to fetch the top 100 users who traveled the most distance using the service....
-
Rank from the most authoritative to the least authoritative, the following three items: FASB Technical Bulletins, AICPA Practice Bulletins, and FASB Standards.
-
What is the purpose of FASB Staff Positions?
-
What are the advantages and disadvantages of leasing a car? Give some advice for someone considering leasing.
-
True or False: Future worth analysis is the most popular DCF measure of economic worth.
-
True or False: Unless non-monetary considerations dictate otherwise, choose the mutually exclusive investment alternative that has the greatest future worth, regardless of the lives of the...
-
True or False: When using future worth analysis with mutually exclusive alternatives having unequal lives, always use a planning horizon equal to the least common multiple of lives.
-
Account balances for C Tobins as at 30 June 2022 are listed in figure 11.3. You are required to: a write in the account or statement and group abbreviations b allocate the account balances to either...
-
True or False: If \(F W <0\), then \(P W <0\).
-
Fairfield Corporation owns three separate subsidiaries. The Board of Directors is developing a strategy to withdraw $1,000,000 in cash from one of the subsidiaries to finance the acquisition of a...
-
Coastal Refining Company operates a refinery with a distillation capacity of 12,000 barrels per day. As a new member of Coastal's management team, you have been given the task of developing a...
-
Give one advantage and one disadvantage of using single-product campaigns in a multiproduct plant.
-
What is meant by solvency? What information in the balance sheet can be used to assess a companys solvency?
-
A recent financial magazine indicated that the airline industry has poor financial flexibility. What is meant by financial flexibility, and why is it important?
-
A recent financial magazine indicated that the airline industry has poor financial flexibility. What is meant by financial flexibility, and why is it important?
-
You have just made your first $5,200 contribution to your retirement account. Assume you earn a return of 12 percent per year and make no additional contributions. a. What will your account be worth...
-
There are two components of leadership. The first is your own personal style and the second is how you choose to lead. Use the following checklist to evaluate your leadership style: What Kind of a...
-
Selected Realized Returns, 1926-2017 Average Return Standard Deviation Small-cap stocks 16.5% 31.7% Large-cap stocks 12.1 19.8 Long-term corporate bonds 6.4 8.3 Long-term government bonds 6.0 9.9...
Study smarter with the SolutionInn App