Chapter 10 Comments 8th ed

Chapter 10 Comments 8th ed - Instructor Comments Chapter...

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Instructor Comments Chapter Ten Hopefully, you will feel some relief in Chapter 10. This chapter is mostly reading, and in my opinion, is significantly easier than some of the chapters that you have already studied. It is important, however, to understand that the “footnotes and other financial information” are essential to a good understanding all four basic financial statements that you have already been exposed to. These statements are the: Balance sheet Income statement Statement cash flows (limited exposure) Statement of changes in owner’s equity and/or retained earnings These statements would be incomplete without the explanatory comments contained in the footnotes. This information is considered to be an integral part of the financial statements. Note the “Shenanigans” page 386. Quite Interesting !!!!! This chapter includes a short discussion of explanatory footnotes and disclosures required by Generally Accepted Accounting Principles. The Securities and Exchange Commission (which regulates the stock
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This note was uploaded on 04/23/2011 for the course ACC 490 taught by Professor Johnthompson during the Spring '10 term at Murray State KY.

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Chapter 10 Comments 8th ed - Instructor Comments Chapter...

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