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Disclosure of financial accounting information has benefits as well as associated costs. All things being equal, investors and regulatory agencies like the SEC desire greater disclosure while businesses might prefer less disclosure requirements due to the cost of accurate disclosure. Disclosure requires the release of accurate and transparent financial accounting statements. The Sarbanes-Oxley act of 2002 was in some measure a response to scandalous corporate behavior in the lat 1990s and early 2000s and was meant to increase the confidence that investors and external users have in the truthfulness and accuracy of publicly available financial statements.
In this discussion post you are to discuss either the pro or con of full financial disclosure. You must take a position advocating full disclosure and why this is beneficial for the marketplace and the economy or a position arguing that the associated costs of full disclosure outweigh its benefits.
To prepare for your original post, find a business article related to some aspect of disclosure of accounting statements. Articles from business publications like the Wall Street Journal, Business Week, and Barons would be ideal. You may also use an academic article on this topic. You must include the source reference that you are using to help you make the argument for or against full financial disclosure.
Indicate the affect of the misstatement on Gentry Supplies Company's balance sheet and income statement for the year ended December 31, 2009.
Chapman Inc. doubles the amount of its assets from the beginning to the end of the year. Liabilities at the end of the year amount to $40,000, and owners' equity is $20,000.
At the time Silver is acquired by Gold, the accumulated earnings and profits of Silver are $100,000 and Gold s are $50,000. How does Alluvia treat this transaction for tax p
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Leon owns all six hundred (600) shares of the outstanding stock of Crane Corporation (Earnings And Profits (E&P) of $1,000,000). Leon had acquired the stock ten (10) years a
When a change in the tax law or rates occurs, the effect of the change on a deferred tax liability or asset must be recognized as an adjustment as of the:
Which of the following is required for a valid letter of credit? A. That it is irrevocable. B. That it is in a form that is a record and is authenticated. C. That consideratio
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