311-Ch05Outline(5th) - • Information must be reliable •...

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Chapter 5 - Communicating and Interpreting Accounting Information Note: You are only responsible for Chapter 5 material through page 247. Players in the Accounting Communication Process A. Regulators SEC FASB PCAOB B. Managers C. Board of Directors (and specifically, the audit committee) D. Auditors Unqualified (clean) opinion E. Information Intermediaries Financial Analysts Information Services F. Users of financial information Institutional Investors Private Investors Creditors Others G. Guiding Principles for Communicating Useful Information. Information must be relevant
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Unformatted text preview: • Information must be reliable • Materiality The Disclosure Process SEC regulation FD (fair disclosure) requires that companies provide all investors with equal access to all important company news. A. Press Releases B. Annual Reports Public vs. private companies C. Quarterly Reports D. SEC • Form 10-K Annual Report • Form 10-Q Quarterly Report • Form 8-K Current Report Several Remaining Financial Statement Items Classified Balance Sheet Assets Liabilities Stockholders’ Equity Income Statement Single-step Multiple-step...
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311-Ch05Outline(5th) - • Information must be reliable •...

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