Explain the importance of preparing financial statements


Paper problem

o Compare and contrast the conceptual framework for business, governmental and not for profits

o Discuss and explain the importance of preparing financial statements using specific requirements for SEC reporting. Explain the importance of this as it relates to intended users.

o Discuss the appropriate accounting treatment for any transaction that you have covered in your reading.

o Discuss any ethical concerns and the impact on financial reporting related to the reporting of any transaction that you have covered in your reading.

o Discuss non-controlling interest and goodwill. Explain the financial reporting for the line items on the worksheet: non-controlling interest, investment in subsidiary, consolidated net income and goodwill

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Financial Management: Explain the importance of preparing financial statements
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