Question: Fred argues, The standards that I like most are the ones that eliminate all management discretion in reportingthat way I get uniform numbers across all

Fred argues, “The standards that I like most are the ones that eliminate all management discretion in reporting—that way I get uniform numbers across all companies and don’t have to worry about doing accounting analysis.” Do you agree? Why or why not?

Step by Step Solution

★★★★★

3.50 Rating (160 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

We dont agree with Fred because the delegation of financial reporting decisions to corporate manager... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

410-B-A-F-A (1840).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

1 Outline the advantages and disadvantages of Mo Cheng's decision to pilot her questionnaire with her friends. 2 Critically review Mo Cheng's approach to sampling and her subsequent data collection...

Managers do not have to worry about the NLRA if the workers they manage are not in a union.

The following trial balance was extracted from the books of Jaya Enterprise at 31 December 2020. RM RM Bank 135,000 Drawings 10,000 Inventory as at 1 January 2020 800,000 Sales 2,100,000 Purchases...

Fred argues, The standards that I like most are the ones that eliminate all management discretion in reportingthat way I get uniform numbers across all companies and dont have to worry about doing...

Hi i need some help with this question, 2. Fred argues: "The standards that I like most are the ones that eliminate all management discretion in reporting??that way I get uniform numbers across all...

1.) Fred argues "The standards tat i like most are the ones that eliminate all management discretion in reporting - that way I get uniform numbers across all companies and don't have to worry about...

"The standards that I like most are the ones that eliminate all management discretion in reporting - that way I get uniform numbers across all companies and don't have to worry about doing accounting...

The following are Rockville School District Teachers Retirement Plans statement of plan duciary net position (balance sheets) for 2015 and 2014, and statement of changes in plan duciary net position...

Consider an asset that costs $670,000 and is depreciated straight-line to zero over its eight-year tax life. The asset is to be used in a five-year project; at the end of the project, the asset can...

What are the implications for Vanguard of Ants IPO being pulled by Chinese regulators? Are there political risks here? Could those risks have been mitigated by pursuing a different strategy?

9-8. (Cost of equity) The common stock for the Bestsold Corporation sells for $58. If an ew issue is sold, the flotation costs are estimated to be 8 percent. The company pays 50 percent of its...

ABC Company recognizes revenue at the point of shipment. Management decides to increase sales for the current quarter by filling all customer orders. Explain what impact this decision will have on: ...

What ratios would you use to evaluate operating leverage for a firm? AppenidxLO1

What are the potential benchmarks that you could use to compare a companys financial ratios? What are the pros and cons of these alternatives? AppenidxLO1

Topic: Measures of position for ungrouped data Answer the following: Independent Assessment 2 Direction. Miggy has an assignment that is to ask at random 20 students in their school about their ages....

1. Problem 2-39 Innis Investments manages funds for a number of companies and wealthy clients. The investment strategy is tailored to each client's needs. For a new client, Innis has been authorized...

Larry is implementing a FaaS ( firewall - as - a - service ) on his network. Where will this firewall sit?Group of answer choiceson the cloudon a hypervisorinside a portin the browser