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  • Module 3 Quality Reports

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    Dawn Juliana Aran
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    The document lists factors that contribute to low quality financial reports such as a lack of transparency, accounting irregularities, and pressure from management. It provides strategies to improve financial position like performing financial analysis and involving teams in budget decisions. Finally, it discusses accounting standards bodies AICPA and IASB and notes common goals of IASB like providing quantitative financial information to support economic decision making.

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    Module 3 Quality Reports

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    The document lists factors that contribute to low quality financial reports such as a lack of transparency, accounting irregularities, and pressure from management. It provides strategies to improve financial position like performing financial analysis and involving teams in budget decisions. Finally, it discusses accounting standards bodies AICPA and IASB and notes common goals of IASB like providing quantitative financial information to support economic decision making.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    3 views1 page

    Module 3 Quality Reports

    Uploaded by

    Dawn Juliana Aran
    The document lists factors that contribute to low quality financial reports such as a lack of transparency, accounting irregularities, and pressure from management. It provides strategies to improve financial position like performing financial analysis and involving teams in budget decisions. Finally, it discusses accounting standards bodies AICPA and IASB and notes common goals of IASB like providing quantitative financial information to support economic decision making.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Factors which contribute to Low Financial Reports

    1. Lack of transparency
    2. pressure to neat target
    3. inadequate internal control
    4. accounting irregularities
    5. conflict of interest
    6. Lack of professional ethics
    7. complex financial instrument
    8. inadequate training or expertise
    9. pressure from management
    10. regulatory GAPS

    Strategies to make better financial position


    1. Perform financial statement analysis
    2. estimate the financial impact of budget and intiatures
    3. learn how to budget
    4. involve your team in a decision manner.

    Accounting Standards
    AICPA-American Institute of Certified Public Accountant
    IASB-International Accounting Standard Boards

    Common Denominator of IASB


    1. Provide Service Act
    2. Provide Quantitative Information
    3. The information in financial in character about the economy entities
    4. The information is interrelated in making economic decisions

    Basis on Low Quality Financial Reports


    Generally Accepted
    Accounting Principle

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