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Explain the importance of the notes to financial statements

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Reference no: EM13899549

1. What types of questions can be answered by analyzing financial statements?

2. What is the difference between an annual report and a 10-K report?

3. What are the particular items an analyst should review and study in an annual report, and what material should be read with caution?

4. What organization has legal authority to set accounting policies in the United States? Does this organization write most of the accounting rules in the United States? Explain.

5. Describe the financial statements that are contained in an annual report or Form 10-K.

6. Explain the importance of the notes to the financial statements.

7. What causes an auditor's report to be qualified? adverse? a disclaimer of opinion? unqualified with explanatory language?

8. Why is the management discussion and analysis useful to the financial analyst?

9. What is a proxy statement, and why is it important to the analyst?

10. What are the intangible factors that are important in evaluating a company's financial position and performance but are not available in the annual report?

Reference no: EM13899549

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