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The Financial Executives Institute is an organization established in 1931 whose members are mainly financial policy-making executives. Several of its members are chief financial officers (CFOs) of very large corporations. The task of the CFO has evolved in recent years from number cruncher to strategic planner. These CFOs played a main role in restructuring American businesses in the early 1990s. Somewhat more than 14,000 financial officers representing approximately 7,000 companies in the United States and Canada are members of the FEI. Throughout its Committee on Corporate Reporting (CCR) and other means the FEI is very effective in representing the views of the private financial sector to the FASB and to the Securities and Exchange Commission and other regulatory agencies.
Journal is an every days record of business transactions, this is also termed a 'Day Book' and is used for recording every day transactions in the order wherein they arise. It is
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Prepaid Expenses In many conditions, like a custom, some of the item of expenses is generally paid in advance such as rent, taxes, insurance and subscriptions. The rationale of
GAAP are usually developed through professional accounting bodies as American Institute of Certified Public Accountants (AICPA) and ICAI that is Institute of Chartered Accountants
explain how accounting information may be used when an owner wants to justify a price in one of their lines of house paint
Government Accountability Office (GAO) - Accounting and auditing office of the United States government. An independent agency which reviews federal financial transactions and repo
The term goods refer to articles that are traded through the firm articles bought for resale. For illustration, for book seller, books are goods, for an electrical store fans, fo
#question STATEMENT OF COMPERIHENSIVE INCOME
The Opening Stock of goods is the stock of goods in hand at the start of an accounting year. It may contain stock of raw material, work-in-progress and finished goods. It appears i
In view of company being faced with huge write-downs to the carrying values of their intangible assets, what are the current AASB reporting requirements for intagibles and does the
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