Elements of financial performance in IASB Framework
Briefly describe the two elements of financial performance in IASB Framework (2010).
Expert
Elements of the financial performance (IASB, 2010, para 4.25) which are illustrated below:
• Income is raises in economic benefits throughout the accounting period in form of inflows or enhancements of assets or; lessens of liabilities which result in rising in equity, other than those relating to contributions from the equity participants.
• Expenses are reduces in economic benefits throughout the accounting period in the form of depletions or outflows of assets or incurrence of liabilities which result in lessens in equity, other than those relating to distributions to the equity participants.
Give a brief introduction of the term ‘Business Entity Concept’?
What do you understand by the term ‘Securities Market’? And also write down various kinds of securities market?
Describe briefly payback period method for valuation of capital expenditure proposal?
Explain the process of validations in the e-scripts and in the configuration?
Describe the general purpose of the statement of comprehensive income. In addition, explain the terms income and expenses as defined by the Conceptual Framework for Financial Reporting (IASB, 2010)
What are the reasons to become an accountant?
Briefly describe the term Expenses?
In managing the labor cost what role does time keeping department play?
Give a small introduction of the term ‘Taylor Differential Piece Rate System’?
Briefly describe the term ‘Stock market indices’? Write down the name of major stock market indices?
18,76,764
1937951 Asked
3,689
Active Tutors
1437867
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!