What are the two types of conservatism? Which type of conservatism is more useful for analysis?
Answer to relevant QuestionsDescribe empirical evidence showing that financial accounting information is relevant for decision making.Accrual accounting information is conceptually more relevant than cash flows. Describe empirical findings that support this superiority of accrual accounting.What are the key differences between the historical cost and the fair value models of accounting?Why do managers sometimes manage earnings?Explain how earnings management affects earnings quality. How is earnings management distinguished from fraudulent reporting?
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