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Unformatted text preview: inaccurate information can lead to making a misinformed decision to the detriment of the company. Investors often look at fianacial statements in order to acsess the financial health of a company, to decide whether they wish to invest. ...is it a good risk? Is the question that has to be asked. Financial institutions look at financial statements similarly, in deciding whether to lend working capital etc. Prime example would be Enron. Their financial statements looked perfect on paper, however the information contained in the reports was not accurate, as such they had no money. Many people lost jobs, retirement, cash etc....
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This note was uploaded on 10/17/2011 for the course ACC 220 220 taught by Professor Aliciahubbard during the Spring '10 term at University of Phoenix.
- Spring '10