a) Describe the "reliability" characteristic of financial information. b) Chairman's statement is not a compulsory disclosure. Discuss the reason for most of the annual reports include it as an important qualitative information? c) With examples, explain the five (5) components of the accounting equation that made up the statement of financial position (balance sheet), which is one part of several financial statement's components. d) Discuss how auditor's opinion helps the shareholders in their decision-making process. TE

a) Describe the "reliability" characteristic of financial information. b) Chairman's statement is not a compulsory disclosure. Discuss the reason for most of the annual reports include it as an important qualitative information? c) With examples, explain the five (5) components of the accounting equation that made up the statement of financial position (balance sheet), which is one part of several financial statement's components. d) Discuss how auditor's opinion helps the shareholders in their decision-making process. TE

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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