Most financial reports contain the following list of basic elements. For each element, identify the person(s) who
Question:
Most financial reports contain the following list of basic elements. For each element, identify the person(s) who prepared the element and describe the information a user would expect to find in each element. Some information is verifiable; other information is subjectively chosen by management. Comment on the verifiability of information in each element.
1. Management discussion and analysis
2. Product/markets of company
3. Financial statements
4. Notes to financial statements
5. Independent accountants' report
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1 Management discussion and analysis The information in this section of the annual report is prepared by management and is managements opportunity to ...View the full answer
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Related Book For 
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1285183237
9th edition
Authors: Gary A. Porter, Curtis L. Norton
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