Daily Online Reporting of Critical Information Is Known As

question 38

Multiple Choice

Daily online reporting of critical information is known as:

• A) real-time reporting.
• B) virtual close.
• C) flash reporting.
• D) shut-down reporting.

---

Definitions:

GAAP

Generally Accepted Accounting Principles represent the customary set of rules for financial accounting that are utilized in a particular jurisdiction.

Principles-based Approach

A method of regulation that emphasizes the spirit of the laws and principles behind them, rather than rigid adherence to specific rules.

Lease Capitalization

The process of recording a lease as an asset and a corresponding liability on the lessee's balance sheet, particularly for long-term leases.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that is used globally to prepare public company financial statements.