Financial Market * a kind of market where the financial management operates‚ no physical existence‚ it only involved money‚ consist of the legal and tax framework. Financial Institutions * refers to banks‚ lending companies‚ credit cooperatives‚ pawnshops‚ insurance companies‚ government agencies (SSS‚ GSIS‚ PHILHEALTH‚ PAGIBIG). Why do Financial Market exists? * In order to facilitate the interaction between providers of capital such as savers and investors and users of capital such
Premium Economics Debt Bond
general information. Outline the different sources of regulation of financial statements in Ireland. When accountants are preparing a set of financial statements accountants must comply with the relevant accounting rules. The regulatory framework provides a set of rules and regulations to ensure fair play.’ The principal aim of the regulatory frame work is to ensure that the financial statements present a true and fair view of the financial performance and position of the organization’. The three
Premium International Financial Reporting Standards Financial statements International Accounting Standards Board
Intermediate Accounting Paper The Financial Accounting Standards Board (FASB) is a private‚ not-for-profit organization whose primary purpose is to develop generally accepted accounting principles (GAAP) within the United States in the public ’s interest. The Securities and Exchange Commission (SEC) designated the FASB as the organization responsible for setting accounting standards for public companies in the U.S. It was created in 1973‚ replacing the Accounting Principles Board and the Committee
Premium Certified Public Accountant Finance Public Company Accounting Oversight Board
cent of its profits from insuring financial speculation‚ and its shares were trading at a spectacular 37 times of its earnings by September 2000. To achieve this‚ AIG began to insure a large chunk of the high-risk speculation. They also had been faked to fool the auditors and had taken its customer’s insurance premiums and invested them in the speculative bubble. These are the reasons of the collapse of AIG. However‚ AIG had business with virtually every financial institution in the world; for example
Premium Subprime mortgage crisis Bank Finance
you would be more or less willing to buy gold under the following circumstances: a. Gold again becomes acceptable as a medium of exchange. (2 marks) b. Prices in the gold market become more volatile. (2 marks) c. You expect inflation to rise‚ and gold prices tend to move with the aggregate price level. (3 marks) d. You expect interest rates to rise. (3 marks) Outline of solutions: (a) More‚ because it has become more liquid; (b) less‚ because it has become more risky; (c) more‚ because
Premium Investment Debt Loan
FINANCIAL INSTITUTIONS AND MARKETS Unit I: Nature and Role of Financial system – Introduction; structure of financial system; Equilibrium in financial markets; financial system and economic development; Theories of Impact of Financial developments Unit I - Introduction to Financial Institutions and Markets Financial System- implies a set of Complex and closely connected institutions‚ markets‚ transactions‚ agents‚ practices‚ claims and liabilities in a economy What is the financial system concerned
Premium Stock market Stock exchange Financial services
Business Administration- MBA Semester 1 MB0041 – Financial And Management Accounting - 4 Credits (Book ID: B1624) Assignment Set - 1 (60 Marks) Note: Each question carries 10 Marks. Answer all the questions. 1. Explain the process involved in accounting. 2. The salaries paid in 2004 is Rs. 5‚00‚000; Salaries outstanding is Rs. 20‚000; Salaries paid in advance for 2004 is Rs. 30‚000. What is the actual salary expenditure for 2004? Which accounting principle is involved in this and explain that
Premium Balance sheet Generally Accepted Accounting Principles
Introduction Financial accounting is branch of accountancy that deals with the financial statements which helps in informing public as well other concerned people who are not involved in day to day working of a company‚ about its current financial performance. Different stages involved in financial accounting are governed by certain standards set by organisations such as The International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB). The standards made by IASB
Premium International Financial Reporting Standards
ACCOUNTING FOR AIRLINE FREQUENT FLYER PROGRAMS: MANAGEMENT INCENTIVES AND FINANCIAL REPORTING IMPACTS May 2012 Brian J. Franklin‚ BBA Accounting ‘12‚ College of Business and Public Policy‚ University of Alaska Anchorage‚ 3211 Providence Drive‚ Anchorage‚ AK 99508‚ 907-268-4233 Ext. 401‚ bfranklin@frontiertutoring.com ABSTRACT The obligation to provide free or reduced-fare travel to passengers who redeem their accrued frequent flyer program (FFP) benefits represents a significant liability on
Premium International Financial Reporting Standards Generally Accepted Accounting Principles Balance sheet
examination of financial statements and underlying records for conformance with generally accepted accounting principles (GAAP). It does this as well as generally accepted governmental auditing standards C. Tests for compliance with laws and regulations. D. Both B and C. 2. Government Auditing Standards (GAS) issued by the U.S. Comptroller General apply to A. Financial statement audits of federal organizations made by the Government Accountability Office. B. Financial statement audits
Premium Tax Financial audit Audit