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please help with 1-3 & 9. 1. What is the policy function performed by bodies such as the FASB and the SEC? List and discuss
please help with 1-3 & 9.
1. What is the policy function performed by bodies such as the FASB and the SEC? List and discuss the three sources of inputs to the policy-making function 2. Give at least three examples of how accounting numbers may affect social reality 3. Identify and explain four qualities that are pertinent to accounting measures 4. Answer the following questions regarding agency theory a. What are the assumptions, focus, and hypothesis of agency theory? b. How does opportunistic behavior, or moral hazard apply to agency theory c. How does an audit of financial statements pertain to agency theory? 5. What is critical accounting, and in what way does it differ from all of the other research areas 6. Why did 7. Compare and contrast the characteristics of the CAP, APB, and FASB discussed in the text? accounting and reporting practices in the U.S. prior to 1930 not meet the needs of shareholder investors? 8. What are the arguments favoring regulation of financial reporting? 9 W hat are the arguments against regulation of financial reporting? How is conservatism defined from a preparer's orientation? Which conservatism goal should take precedence when conservatism criteria conflict? 11. Discuss he matching principle and how it applies to recognizing expenses. Why is the matching 12. How did the definition of accounting change from the period before ASOBAT to the issuance of 13. Respond to the following principle currently under attack? SATTA in 19772 a. List some of the possible groups of financial statement users b. What is meant by "user diversity," and does user diversity create a potential problem? Explain the hierarchy of accounting qualities identified in SFAC No. 2. Define the elements of financial statements identified in SFAC No. 3 and SFAC No. 6. 9314. 15. Ony I per chrterStep by Step Solution
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