Describe the quality issues related to reporting revenue

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Reference no: EM13818099

Discusion questions

Below are two discussion question. Please respond to each question with at least 100 words and with using the Week five Lecture notes. For each question provide a reference with it.

The Quality of Financial Information

Referencing the readings and lecture, describe the quality issues related to reporting revenue. What is the importance of understanding various inventory valuation methods in determining the quality of reported profits?
Respond to at least two of your classmates' posts.

Conflicts with GAAP

Even though firms follow the accounting rules (GAAP) when presenting their financial statements, it is still possible for conflicts of interest to exist between what management wants investors and creditors to see and the economic reality of transactions. Explain how this can occur.

Reference no: EM13818099

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