Discuss the role of each of the following in the formulation of accounting principles:
a.American Institute of Certified Public Accountants
b.Financial Accounting Standards Board
c.Securities and Exchange Commission
How does the concept of consistency aid in the analysis of financial statements? What type of accounting disclosure is required if this concept is not applied?
What are the three principal financial statements of a corporation? Briefly describe the purpose of each statement.
Why are notes to statements necessary?
Textbook: Financial Reporting & Analysis 13th edition Charles H. Gibson
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