Asked by
Kaitlyn Tarantino
on Nov 14, 2024Verified
The United States and the international standard-setting environment are primarily driven by meeting the needs of
A) investors and creditors.
B) tax authorities.
C) central government planners.
D) academic researchers.
Standard-Setting Environment
The framework and processes through which authoritative accounting principles and standards are developed and implemented.
Investors
Investors are individuals or entities that allocate capital with the expectation of receiving financial returns, commonly through the buying of stocks, bonds, or other investment instruments.
Creditors
Individuals or institutions to whom money is owed by a debtor, typically arising from the provision of goods, services, or loans.
- Determine the needs of internal and external beneficiaries of financial information.
- Assess the similarities and discrepancies of International Financial Reporting Standards (IFRS) versus Generally Accepted Accounting Principles (GAAP).
Verified Answer
AS
Learning Objectives
- Determine the needs of internal and external beneficiaries of financial information.
- Assess the similarities and discrepancies of International Financial Reporting Standards (IFRS) versus Generally Accepted Accounting Principles (GAAP).