1. Compure the AAOIFI Code of Professional Ethics with the IMA and AICPA Code of Profcssional Euthicx, 2. Give your opinion on the major differences between them. conventional accountants and auditon?
Answers
The major differences between these codes stem from their specific focus areas, underlying frameworks, and the regulatory contexts in which they operate.
The AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) Code of Professional Ethics, the IMA (Institute of Management Accountants) Code of Professional Ethics, and the AICPA (American Institute of Certified Public Accountants) Code of Professional Ethics are all sets of ethical guidelines and standards for accountants and auditors. While there are similarities in their general principles and objectives, there are also significant differences between them.
One major difference is the underlying framework and principles on which these codes are based. The AAOIFI Code of Professional Ethics is specifically designed for professionals working in Islamic finance and adheres to the principles of Shariah law. It incorporates ethical and moral considerations from an Islamic perspective.
On the other hand, the IMA Code of Professional Ethics focuses on the ethical conduct of management accountants and emphasizes the importance of integrity, objectivity, confidentiality, and professional competence.
The AICPA Code of Professional Ethics is applicable to Certified Public Accountants (CPAs) in the United States and includes principles such as integrity, objectivity, professional competence, and due care. It provides guidance for both public accountants and those working in private industry.
Another difference lies in the specific rules and requirements outlined in each code. The AAOIFI Code includes specific provisions related to transactions involving Islamic financial instruments and compliance with Shariah principles. The IMA and AICPA Codes provide more comprehensive guidance on areas such as independence, confidentiality, conflicts of interest, and the responsibility to maintain professional competence.
In terms of cultural and geographical scope, the AAOIFI Code has a primary focus on Islamic finance and is more relevant to regions where Islamic banking and finance are prevalent. The IMA and AICPA Codes have a broader global applicability and are widely recognized in the accounting and auditing profession worldwide.
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Related Questions
i will be your bsf (10pts)
anyone in a company who influences the behavior of other employees is acting as a ___.
A. executive
B. supervisor
C. leader
D. manager
A P E X
Answers
Answer:
I think it's c. leader or d. manager but I really it's the d. manager
Answer:
b. leader
Explanation:
Business analyst recently completed a project that their company has decided to use to solve a larger business problem. What step is this in the data analysis process? 1 point
Answers
The step in the data analysis process that the business analyst has completed is the implementation stage. This is because the project that they completed has been deemed as a solution to a larger business problem and the company has decided to use it.
The implementation stage is the final step in the data analysis process and involves the execution of the chosen solution. This step involves putting the solution into practice and monitoring its performance to ensure that it is effective in addressing the identified business problem.
Before the implementation stage, the data analysis process involves several other steps such as problem identification, data collection, data cleaning and preparation, data analysis and interpretation, and solution selection. These steps are all essential in ensuring that the solution chosen is effective in solving the business problem.
In conclusion, the business analyst has completed the implementation stage of the data analysis process, which involves executing the chosen solution to solve a larger business problem.
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Which of the following exercises the most power over the quantity of money in the U.S. economy?
a) The U.S. President
b) The U.S. Congress
c) Fort Knox
d) The U.S. Treasury Department
e) The U.S. Federal Reserve
f) The Supreme Court
g) Warren Buffet
Answers
The entity that exercises the most power over the quantity of money in the U.S. economy is the U.S. Federal Reserve. The correct option is e.
The Federal Reserve controls the money supply by conducting monetary policy, which involves setting interest rates and managing the availability of credit in the economy.
Through various tools, such as open market operations and reserve requirements, the Federal Reserve can influence the amount of money in circulation and the rate of inflation.
While the U.S. President and Congress can enact policies that affect the economy, they do not have direct control over the money supply.
Fort Knox and the Treasury Department play a role in managing the country's gold reserves and issuing currency, respectively, but do not have significant influence over the quantity of money in circulation.
The Supreme Court and Warren Buffet are not involved in monetary policy.
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human capital is the improvement in created by . question 3 options: a) labor; education and knowledge b) labor; management c) labor; physical capital d) physical capital; technology
Answers
Human capital is the improvement in created by a) labor; education and knowledge
What is huma capital?Social scientists refer to personal qualities thought to be helpful in the production process as "human capital." It includes the education, health, and knowledge of the workforce. Individual earnings are significantly impacted by human capital.
An economy can expand thanks to its human capital. Increases in human capital in fields like science, education, and management bring about improvements in participation rates, social well-being, and productivity, all of which support economic growth.
The knowledge, skills, and health that people invest in and amass over the course of their lives give them the opportunity to realize their potential as contributing members of society.
Communication abilities, education, technical proficiency, creativity, experience, problem-solving abilities, mental health, and individual resiliency are a few examples of human capital.
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current consumption is inversely related to saving for the future. (T/F)
Answers
The statement "Current consumption is inversely related to saving for the future" is True.
What is consumption?
Consumption is the acquisition of new goods and services by people, households, companies, governments, and organizations. Consumption is distinct from production, which is the output of goods and services. Consumer spending is often measured as a fraction of gross domestic product (GDP) in economics. This indicates the size of the economy's consumption and the importance of consumer spending in driving economic growth and development.What is saving?Saving is setting aside money or income for future usage rather than spending it all right now. Savings can be used for future expenses like children's education, medical costs, home repairs, or retirement. Savings can also be used to make purchases like a car or a down payment on a home.
Savings can also be used to create a financial cushion for unforeseen circumstances, such as job loss or illness.Is it true that current consumption is inversely related to saving for the future?Yes, it is correct. When someone consumes more goods and services, they are less likely to save for the future. It is referred to as an inverse relationship. Saving, on the other hand, necessitates a reduction in present consumption in order to establish an asset for future usage. When someone consumes less, they can save more. Therefore, it is true that current consumption is inversely related to saving for the future.
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The explanation for a downsloping aggregate demand curve differs from the explanation for the downsloping demand curve for a single product because multiple choice 2 a downsloping, single-product demand curve assumes constant prices such that changes in income cause a substitution of a now relatively cheaper product for those whose prices have not changed. a downsloping aggregate demand curve assumes constant money income such that a lower price causes a substitution of the now relatively cheaper product for those whose prices have not changed. a downsloping aggregate demand curve assumes constant prices such that changes in income cause a substitution of a now relatively cheaper product for those whose prices have not changed. a downsloping, single-product demand curve assumes constant money income such that a lower price causes a substitution of the now relatively cheaper product for those whose prices have not changed.
Answers
Answer:
single-product demand curve assumes constant money income such that a lower price causes a substitution of the now relatively cheaper product for those whose prices have not changed.
Explanation:
When the aggregate demand curve i.e. downward sloping would be different to the demand curve for the single product i.e. also downward sloping is due to as the single product demand curve would assume that the income would be constant in such a way the less price would lead a substitution that the product is not expensive at all
So the above would be the reason
What are the causes of excess demand?
Answers
Excess Demand occurs when the Price of a good is lower than the Equilibrium Price, meaning more consumers will want to buy the good than suppliers are willing to sell.
What does economics' definition of demand mean?Demand is an economics principle that captures the consumer's desire to purchase the good or service. The price that customers are prepared to pay for the good or service is used to determine demand.
Why is demand significant in economic theory?Because they jointly determine the prices and availability of the majority of goods and services in a particular market, supply and demand have a significant relationship. A market economy operates under the tenet that supply and demand eventually reach a point of equilibrium.
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the idea that nominal wages do not immediately respond to a fall in price levels is known as .
Answers
The sticky wage theory is idea that the nominal wages do not immediately respond to fall in price levels.
What is the sticky wage theory?According to the sticky wage theory, changes in business performance or the state of the economy have a slow reaction time on employee pay. The idea holds that rather than declining in tandem with the decline in demand for labor, when unemployment increases, the earnings of those employees who are still employed tend to remain stable or grow more slowly. The phrase "sticky-down" refers to the fact that salaries can quickly move up but only slowly down. A nominal price resisting change is known as "stickiness" in a theoretical market. Stickiness, which is also sometimes referred to as price stickiness, can frequently be used to refer to pricing within a market in addition to salaries.
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Laurel contributed equipment worth $200,000, purchased 10 months ago for $250,000 cash and used in her sole proprietorship, to Sand Creek LLC in exchange for a 15 percent profits and capital interest in the LLC. Laurel agreed to guarantee all $15,000 of Sand Creek’s accounts payable, but she did not guarantee any portion of the $100,000 nonrecourse mortgage securing Sand Creek’s office building. Other than the accounts payable and mortgage, Sand Creek does not owe any debts to other creditors.a. What is Laurel’s initial tax basis in her LLC interest?
b. Laurel’s holding period in the partnership interest begins the day the LLC interest is acquired. True or False?c. What is Sand Creek’s initial basis in the contributed property?
d. What is Sand Creek’s holding period in the contributed property?
Answers
Answer: See explanation
Explanation:
a. What is Laurel’s initial tax basis in her LLC interest?
This will be the addition of the $250,000 basis for the equipment, accounts payable of $15,000 and also the $15,000 (15% × $100,000). This will be:
= $250,000 + $15,000 + $15,000
= $280,000
b. True.
Laurel’s holding period in the partnership interest begins the day the LLC interest is acquired. This is due to the fact that the asset contributed isn't a section 1232 asset. The reason for this is due to the fact that the asset was used for a year or less.
c. Sand Creek’s initial basis in the contributed property is $250,000.
d. Ten months.
Sand Creek’s holding period in the contributed property will be 10 months.
Complete the missing word in the sentence below to progress!
For a business to be viable, it must make a ___ from your sales.
Answers
for a business to be viable,it must make a good or proper sales
Answer:
Business viability is measured by a business' potential for long-term survival and the ability to sustain profits over a period of time.
Aww I don't get exact answer
although I tried
Carrie is creating a personal balance sheet. The heading includes the period of time that the balance sheet represents. Which could be the header of Carrie's balance sheet?
Answers
Answer:
The answer is Carrie's Balance Sheet (January 2013)
Explanation:
It is titled Carrie's Balance sheet and it shows the date in the title, it is the only one with a specific month compared to a longer period of time.
Answer:Carrie’s Balance Sheet (January 1, 2021)
Explanation: Got it correct on edge.
why is it so important to check the accreditation of a private higher leaning institution?Explain Three reasons
Answers
Answer:
Explanation:
Accreditation helps determine if an institution meets or exceeds minimum quality standards. It also helps students determine acceptable institutions for enrollment. Accreditation assists institutions in determining acceptability of transfer credits.
help i cant figire these out
lol tell me where this from
also if u like anime, what your favourite?
Answers
Answer:
levi from attack on titan
Explanation:
Gunnar, the Director of Operations at Fantastic Foods, has worked with other managers over the years to set up groups and teams to handle issues. One of the recent groups, which is also a team, is the
Answers
If Gunnar, the Director of Operations at Fantastic Foods. One of the recent groups, which is also a team, is the dean search committee.
What is team?Team are member of a group that come together in unity to resolve issue and to achieve their set goals and objectives.
The recent group will be the dean search committee which aim is to interact or communicate frequently by making use of different communication means over a period of several months.
Therefore One of the recent groups, which is also a team, is the dean search committee.
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1. So you are going on a vacation! There's lot of planning to do. You will be leaving on Friday and returning the next
Friday. You will be taking 3 other classmates with you. Where are you going and how are you getting there? Present
three options, pros and cons about how you might travel to and from your destination. The presentation must include
prices and time consideration.
Tell how you will get around while on the vacation. You need to include mileage and prices. If you are renting a car,
allow 10 cents per mile. If you are using someone's personal car, allow 35 cents per mile. Identify your final travel
decisions and how you arrive at those decisions. Make sure you include your research and any other information you
used to arrive at your decision.
Where will you stay when you get there? Present three options, pros and cons, about where you will stay while on your
vacation. The presentation must include prices and amenity considerations. If you have males and females in your
group, you need to make sure you include separate rooms for each. Identify your final lodging decisions and how you
arrived at those decisions. Include information about amenities. Make sure you include your research and any other
information you used to arrive at your decision.
What will you eat when you get there? Present 15 options for meals for your group while on vacation. The presentation
must include prices and transportation considerations. You will need to eat 2 really nice meals while on vacation. A
really nice meal is eaten at a restaurant where you must sit down and be waited on. Identify your final meal decisions
and how you arrived at those decisions. Include the cost of each meal as well as a description of the type of cuisine.
Make sure you include your research and any other information you used to arrive at your decision:
Answers
Answer:
685
Explanation:
Why do so many people continue to use payday loans despite the
financial risk?
Answers
Answer:
As this would reduce the interest that they would be liable to pay after a period.
A(n) __ can administer self-assessment tools to help you understand your personality and preferences .
Answers
guidance counselor
Explanation:
Took the quiz
In what order do managers typically perform the managerial function?
Answers
Answer and Explanation:
As we know that the managerial functions are as follows:
1. Planning
2. Organizing
3. Leading
4. controlling
In this way it should be perfomed by the managers so that the company goals and objectives should be accomplished within the prescribed time and if there is any discrepancy so it would be corrected before time
Which phase of the product life cycle requires potentially the most significant amount of money for marketing campaigns
Answers
The introduction stage is the most important for marketing campaigns.
What is the introduction stage?For a product to be valuable to the client once it has been developed and launched to the market, the offering must be managed successfully. The manufacturer of the good can only maintain the offering on the market and meet its profit goals if this is done. Making a lot of difficult decisions is part of the process, especially if the product is being introduced to international markets. An organization must assess and comprehend aspects in the external environment, such as laws and regulations, the economy and stage of economic growth, the rivals and alternatives, cultural values, and market demands, before introducing products in international markets. To successfully introduce items in overseas markets, businesses also require experience. When a product is introduced to the market, it enters the introduction stage. At this point, marketing departments start identifying potential clients and spreading product awareness. A product's first sales are often low, and demand increases gradually. Marketers concentrate on advertising and marketing efforts during this time. They also try different distribution methods and promote their products and brands. The excitement starts here. After the product has been out, you can truly use inbound marketing and content marketing to promote it. Education is essential at this point. If your marketing plans are effective, the product moves on to the following phase, called growth.
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A ceiling design that has a rectangular center that is either popped out or inverted to add an effect.
Answers
Answer:
tray ceilings
Tray Ceiling - Usually seen in dining rooms and kitchens, tray ceilings are built upwards in a cut out resembling a tray. It has a rectangular center that is either popped out or inverted to add an effect
Explanation:
Hope it helps
You know that the sale price of your product is $11.49. You want to have a gross margin of 35%. What should your direct
cost be?
Answers
Answer: $7.47
Explanation: 65% of $11.49
When making keep or replace equipment decisions, management should consider the: (Check all that apply.) Multiple select question. operating cost of the new equipment. original cost of the old equipment. operating cost of the old equipment. book value of the old equipment. trade-in allowance on the old equipment.
Answers
Answer: trade-in allowance on the old equipment, operating cost of the new equipment, operating cost of the old equipment
Explanation:
The correct option
trade-in allowance on the old equipment.operating cost of the new equipment.operating cost of the old equipmentś.What is management?The teaching or supervising of something (such as a business) Business enhanced under the management of new owners. 2: rational use of means to achieve an end is extremely cautious when it comes to money direction.It is something that executes group efforts towards the achievement of certain pre-determined goals. “Management” is the procedure of performing with and through others to actually achieve the goals of the organization, by efficiently using delimited resources in the changing world.The act or method of managing; handling, movement, or control. skill in managing; organizational ability: great management and tact. the person or individuals controlling and directing the experiences of a business, institution,To learn more about management, refer to:
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Marketing Mix consists of the 4 P's. One of those P's is Place. Flawless Features, an American marketing home care, and health products. The brand sells products only through its authorized stores. Hence, the compan distributor of its goods. QUESTION: Identify the type of vertical marketing system applied by Flawless Features.
Answers
Flawless Features applies a vertical marketing system known as a corporate vertical marketing system.
Flawless Features, as the brand of home care and health products, sells its products exclusively through authorized stores. In this arrangement, the company acts as its own distributor, controlling the entire distribution channel. This indicates the application of a corporate vertical marketing system.
A corporate vertical marketing system involves the integration of successive stages of distribution under a single ownership. Flawless Features exercises control over the distribution process by directly owning and managing the authorized stores where its products are sold. This allows the company to have greater coordination, efficiency, and control over the marketing activities and distribution of its goods.
By utilizing a corporate vertical marketing system, Flawless Features can maintain consistency in the presentation and availability of its products in the authorized stores. It also enables the company to have a direct relationship with customers through its owned retail outlets, enhancing customer service and brand experience.
Overall, this vertical marketing system aligns with Flawless Features' strategy of maintaining strict control over the distribution and sales of its home care and health products.
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Select the correct answer.
What effect does inflation have on the prices of goods and services?
OA.
Prices decrease.
OB.
Prices double.
Ос. .
Prices increase.
OD
Prices stay the same.
Answers
Answer:
Prices increase, C
Explanation:
Inflation is when the value of a dollar, or other currency type, drops. This happens most commonly when more money is being printed. The more there is, the less it is worth. This causes prices to increase.
Hope this helps
Answer:
A
Explanation:
if inflation of SUPPLIES then price will decrease.
If inflation of MONEY then yea the price would rise.
A loan officer wants to know if the next customer is likely to default or not on a loan. How can she assess the risk of extending the loan to that customer?.
Answers
A loan officer wants to assess the risk of extending the loan to the customer to know if he is likely to default on a loan. There are a few things that she can do to assess the risk of extending the loan to the customer.
Firstly, the loan officer can review the borrower's credit history. Credit history is a summary of an individual's past borrowing and repayments, which helps lenders to evaluate their creditworthiness. It's important to note that a credit score is not the only thing that lenders look at when considering loan applications; they also consider other factors, such as income, employment history, and debt-to-income ratio.Secondly, the loan officer can consider the borrower's current financial situation. This includes factors such as their income, employment status, and other sources of income. Additionally, lenders may ask for other financial documents such as bank statements and tax returns to determine whether the borrower has the capacity to repay the loan.
Finally, the loan officer can also consider the type of loan the borrower is applying for. Some types of loans are riskier than others, so lenders may have stricter requirements for borrowers who apply for these types of loans. In conclusion, the loan officer should do a thorough assessment of the borrower's creditworthiness and financial situation before deciding whether to extend the loan or not.
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Amy works as a teller at the local bank. What kind of education would Amy likely have needed for her job?
Answers
Answer:
high school diploma
Explanation:
Answer:
High School Diploma
Explanation:
I took the test said it was right. Also when you search what the requirements to become a bank teller it says "High School Diploma or equivalent."
Which of the following is a part of the winding down process?
O A. Forming corporate bylaws
O B. Paying outstanding obligations
O C. Appointing a board of directors
O D. Voting on dissolution
Answers
Answer:
B. Paying Outstanding Obligations
Explanation:
I hope this helps, I just took the test !!!
by what date must taxes be filed in the united states?
Answers
Answer:
april 15
Explanation:
its a direct question the isnt an explanation
HELP PLEASSEE!!
What cultural change is a major driving factor for why the entertainment field is so
competitive in modern times?
A. rising standard of living
B. deterioration of goodwill
C. shrinking reach of companies
D. lower threshold for wear-out
Answers
I THINK it's A but i'm not sure
Define export subsidies. Provide the rationale for a
nation subsidizing exports when the loss by domestic consumers and
cost of subsidy to the nation's taxpayers exceed the gain by
domestic producers.
Answers
Export subsidies are financial incentives provided by a government to boost export.These subsidies aim to lower production costs, increase competitiveness, and boost exports in order to stimulate economic growth and improve the balance of trade.
Export subsidies are implemented to stimulate international trade by reducing production costs or offering additional benefits to domestic . Despite the potential drawbacks, such as losses to domestic and costs to taxpayers, nations may still choose to subsidize exports for several reasons. Firstly, strategic trade policy aims to gain a competitive advantage in global markets, prioritizing long-term economic benefits over short-term costs. Secondly, protecting domestic industries from foreign competition or supporting vital sectors justifies the subsidy's expenses. Thirdly, job creation and reducing may be prioritized, even if the subsidy's costs exceed the gains for producers or taxpayers. Lastly, export subsidies can be employed as a retaliatory measure against unfair trade practices or to penetrate foreign markets. While considering the broader economic impact is crucial, these rationales provide justifications for nations subsidizing exports despite the associated costs
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