Question

Investors, creditors, and other users of financial statements often argue that there should be more transparency in published financial statements. This argument is based, at least to some extent, on concerns that management has too much leeway in the selection of accounting alternatives.
Team Debate:
Team 1: Argue that management should continue to be allowed to choose among different accounting alternatives because full disclosure in the notes to financial statements provides sufficient transparency.
Team 2: Argue that there should be a narrowing of accounting alternatives because full disclosure in the notes is not sufficient to curb potential management abuses.



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  • CreatedDecember 17, 2014
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