Ch 1 + Notes-2 - The Four Basic Financial Statements 1. _...

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The Four Basic Financial Statements 1. __________________________ 2. _______________________________ _____________________________ 3. _______________________________ _________________ 4. ______________________________ 1- 1- 2
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1 -  1 -  3 Notes to the Financial Notes to the Financial Statements Statements An integral part of the statements Provide a summary of the firm’s accounting  policies Explain any changes in accounting policies Present detail about particular accounts
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Auditor’s Report 1. __________________ 2. __________________ 3. __________________ 4. __________________ 1- 1- 4
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Auditor’s Report (cont.) ______________ (what you want!) Statements present information in conformity with GAAP ______________ Reports other than an unqualified opinion due to various circumstances Typically use word “except for” 1- 1- 5
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Auditor’s Report (cont.) _______________________ (not what you want!) Financial statements have not been presented fairly in accordance with GAAP 1- 1- 6
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Ch 1 + Notes-2 - The Four Basic Financial Statements 1. _...

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