1) What are the objectives of financial accounting? which of the financial statements satisfies each of these objectives?
2) Assume that you are a technology services provider and you must decide whether to record revenue from the installation of computer software for one of your clients. Your contract calls for acceptance of the software by the client within six months of installation before payment is due. Although you have not yet received formal acceptance, you are confident that it is forthcoming. Failure to record these revenues will cause your company to miss Wall Street’s earnings estimates. What stake holders will be affected by your decision and how might they be affected?