Discuss three control implications of XBRL
What will be an ideal response?
Control implications include: Taxonomy Creation. Taxonomy may be generated incorrectly, resulting in an incorrect mapping between data and taxonomy elements that could result in material misrepresentation of financial data. Controls must be designed and in place to ensure the correct generation of XBRL taxonomies. Taxonomy Mapping Error. The process of mapping the internal database accounts to the taxonomy tags needs to be controlled. Correctly generated XBRL tags may be incorrectly assigned to internal database accounts, resulting in material misrepresentations of financial data. Validation of Instance Documents. As noted, once the mapping is complete and tags have been stored in the internal database, XBRL instance documents (reports) can be generated. Independent verification procedures need to be established to validate the instance documents to ensure that appropriate taxonomy and tags have been applied before posting to web server.
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Under the Revised Uniform Partnership Act (RUPA), the dissociation of a partner always causes a dissolution and winding up of the business of the partnership.
Answer the following statement true (T) or false (F)
Equity valuation models based on dividends, cash flows, and earnings have been the topic of many theoretical and empirical research studies in recent years. All of the following are true regarding these studies except:
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A chart to show time lengths and sequences of project task activities was developed by?
a. Rebecca Scott b. Henry Gantt c. Nathan Palmer d. Suzuki Ishikawa
Your friend Nathaniel owns a considerable amount of common stock in Microsoft, a computer software company. He wants to cast his votes on various issues at the annual stockholders' meeting in Seattle, but he does not have the time to travel a great distance to the meeting. Instead of attending the meeting, Nathaniel decides to register his votes by
A. registered mail. B. preemptive right. C. proxy. D. power of attorney. E. preferred stock.