Who Has Overall Responsibility for Issuing Accounting Standards in Australia

question 8

Multiple Choice

Who has overall responsibility for issuing accounting standards in Australia?

• A) The Financial Reporting Council (FRC)
• B) The Australian Accounting Standards Boards (AASB)
• C) The International Accounting Standards Board (IASB)
• D) The Australian Accounting Research Foundation (AARF)

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Definitions:

Goal Setting

The process of identifying specific, measurable, achievable, relevant, and time-bound objectives, both at individual and organizational levels, to guide actions and track progress.

Reality Checking

The act of verifying the truth or accuracy of a belief or perception against the facts or actual experience.

Coach

A peer or manager who works with an employee to motivate the employee, help him or her develop skills, and provide reinforcement and feedback.

Motivate

To provide someone with a reason or incentive to do something.