Oceanview Marine Company Planned Tests of Balances Matrix Essays and Term Papers

1.No I have never used the XBRL before. Searched from the website, I know the the XBRL (eXtensible Business Reporting Language) is a freely available and global standard for exchanging business information. One of the part which most interest me is someone input the information, and it no use to input again, and they can use the XBRL to transit the computer information into the written format or PDF docuefficient ments. It is very convenient and useful for financial use to analysis the financial information and make the right decision.

2. What is the role of the accounting in society.。

Accounting is the most important role in the society , especially in the today’s society. At start, the responsibilities of accounting are record every economical transaction to reflect the financial status, and then make the financial statement to disclose the fair and real information of a company that can help investors and shareholders to make the reasonable and right decisions. But now with the trend of globalization, the accounting standards will not specific in some special countries but become an international standards, so the role of the accounting in society will become an “ international business language”.

3. What is the role of regulation in the market for financial information?

 requirements that publicly traded enterprises provide information to their stockholders and creditors at stated intervals (e.g., quarterly) and in a standardized fashion; that banks provide standardized information on deposit rates and loan rates to their customers; that insurance companies provide standardized information as to terms and coverage to their insureds, e。The issuance of financial information must be standardized (so that lenders and investors can more easily make comparisons among enterprises。decrease the moral hazards.it will reduce the information asymmetry, and minimize the economic consequence.

4.

efficient researcher.

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