AAS

Description

Corporations 4
FN Walton
Mind Map by FN Walton, updated more than 1 year ago
FN Walton
Created by FN Walton almost 7 years ago
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Resource summary

AAS
  1. What are they?
    1. Sets out required accounting for different types of transactions and events
    2. Provides Confidence
      1. Maintain investor confidence by creating consistent reporting across reporting entities
      2. Assists Directors
        1. Company reports complies with AAS, the reports will adhere to The Framework
          1. Directors obligated to report on resources and investments in a way that satisfies the qualitative characteristics
          2. Protects Users
            1. Reports will provide clear and useful information
              1. Faithfully represent the company performance, liquidity and profitability
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