Question 1. What are the qualitative and quantitative limitations of financial statements? What is the FASB and what role does that entity play? Have you heard of and do you know the meaning of IFAS and GAAP?
Question 2. About twenty years ago business educators articulated that the goal of financial management was to maximize shareholder wealth. In today's financial community, and especially the academic community, that view is not fully accepted. What has changed? Do financial managers really maximize stockholders' value?
Question 3. What are some ethical considerations of accounting and finance? If you follow all applicable rules and regulations, are you an ethical person? Why do many business managers feel that ethical behavior is essential to the profitability and survival of their firm?
Question 4. What information does a company's cash flow statement provide that is not available from the other financial statements? Be specific and cite at lease one example.