Significant accounting estimate

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Reference no: EM1363447

1. What is an example of a significant accounting estimate? What is the importance of these estimates? How do ethics play into the decision-making process? Which financial statements include significant accounting estimates? Why?

2. What are internal controls? Why do companies need them? What are some examples of internal controls? Who is responsible for developing internal controls? Why?

Reference no: EM1363447

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