Able to update revenue-income and balance sheet

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“24/7 accounting” means that a company is able to update revenue, income, and balance sheet numbers every day within a quarter and publish them on the Internet. Having the necessary accounting systems to close the books on a daily basis, and reliability concerns associated with unaudited real-time data are two obstacles that stand in the way of 24/7 accounting. Consider these obstacles and discuss how they present challenges for 24/7 accounting. Is it vital that a company report 24/7 accounting? Discuss the analysis that led to your opinion.

Reference no: EM13745253

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