ANSWER EACH QUESTION IN 200 OR MORE WORDS:
1. Demonstrate the uses of GAAP and IFRS in Financial Reporting.
2. Describe the professional responsibilities of accountants in financial reporting.
3. Identify each of the financial statements, their main components, and their importance in financial reporting.
4. What is Necessity of Analysis?
5. What is Financial Reporting?
6. What is Revenue Recognition?
7. Describe Forecasting Future Cash Flows.
USE CITATIONS AND REFERENCES.
USE APA GUIDELINES.