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chapter 2 notes - Statutory Financial Reports 8-k current...

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1/25/11 Statutory Financial Reports 8-k current report so it’s available to everyone 20-F used for stock offering Form 4-every time an exec officer or board members sells stock, they have to file a form with the details Very difficult to trade your stock as an executive, unless maybe a 24 hr window after a press release GAAP -generally accepted accounting principles -not always theoretically correct -start with statements of financial acct standards, its the best to hang your hat on Environmental Factors (possible test slide) -a lot of the players have their own motives Environmental Factors -politics comes into play from the SEC commissioners personal opinion to effect the outcome Accrual accounting will give you a more accurate income statement from an earnings perspective Difference between short/long accrual is not that important to know 1. which of the following statements about accruals and cash flows is false?
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