Discuss Controlling. Discuss the importance of two basic types of financial statements.
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Discuss Controlling. Discuss the importance of two basic types of financial statements.
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- Analyze the conceptual framework of accounting and its role in guiding the preparation and presentation of financial statements.Discuss the importance of financial statements to a company and its investors and creditors and whymanagement may take steps to improve the appearance of the company in its financial statements.Create a scenario in which at least two types of postretirement health care and life insurance benefits change. Predict the potential impact of these changes on financial accounting and reporting practices.
- 1. Discuss the nature and purposes of financial management and its goals including issues on corporate governance, agency and conflicts of interest and trends and issues in finance.Chapter 22 Organizations determine whether to take on debt and how much to take on are common and necessary parts of financial planning. Explain the sources of capital that are available to an organization to obtain funds. Chapter 23 Explain why an organization should buy or lease when purchasing equipment.When drafting financial statements, provide your understanding of what the term materiality means and its importance. Include an understanding of the changes made in 2018 by the Financial Accounting Standards Board that makes the term consistent with the U. S. Supreme Court interpretation. Be sure to consider and provide an assessment of both the quantitative and qualitative dimensions and include examples.
- Describe the relevance and reliability of accounting information. How are these two characteristics assessed and why are they important for decision-making by external users of financial statements?Discuss the conceptual framework for financial reporting. What are its main objectives, qualitative characteristics, and elements of financial statements? How does the conceptual framework guide the development of accounting standards?State the objective of the audit of financial statements. In generalterms, how do auditors meet that objective?