The legal and regulatory generally influences the financial statements according to the existing laws. The legality of the financial statements are based on the existing laws.
Describe the following Moral, political, environmental and interpersonal that influence the development of a code of ethics
some of the legal and regulatory challenges in converting EHRs
Legal and regulatory forces are laws that protect consumers and competition and government regulations that affect marketing.
The American Bar Association is a regulator legal force. The Federal Trade Commission is a regulatory force for interstate commerce. Regulatory forces are needed to enforce laws.
When there is parent subsidiary relationship exists and in that case if separate financial statements are prepared by both parent and subsidiary company those statements are called unconsolidated statements.
As far as management goes, you might need a statement of cash flows, and an assessment of inventories. You might want to also look at the balance sheet
The type of legal and regulatory forces that affect REI in gthe us are magnetic and gravity forces.
Publicly owned companies are required to file quarterly financial statements and the company's external public auditor is required to perform a review at the end of the first three quarters
the forces that affect trading in global markets are sociocultural forces, economic and financial forces, legal and regulatory forces, and physical and environmental forces.
1) Dealing with differences in sociocultural forces 2) economic and financial forces 3) legal and regulatory forces 4) physical and environmental forces
Accounting standards may be unnecessary in the sense that preparing financial statements is seen as a legal requirement not one that should always be bound by the accounting principles. It isa priority to follow the rules stated by the law even if it may not agree with the known standard.
GAAP, or Generally Accepted Accounting Principles, is necessary for several reasons. First, it helps ensure consistent and standardized financial reporting across different organizations and industries, making it easier to compare and analyze financial statements. Second, it provides transparency and helps maintain the integrity and reliability of financial information. Lastly, GAAP is necessary for compliance with legal and regulatory requirements, as well as for gaining the trust of investors, lenders, and other stakeholders.