Based on the information that was discussed in Chapter $12$ on Financial

Statement Analysis, discuss the following questions:

Explain the difference between conservative and aggressive

accounting practices.

Provide an example of a conservative accounting practice. Why is

this practice conservative?

Provide an example of an aggressive accounting practice. Why is

this practice aggressive?

Goal Line Products makes several year$-$end adjustments, including

an increase in the allowance for uncollectible accounts, a write$-$

down of inventory, a decrease in the estimated useful life for

depreciation, and an increase in the liability reported for litigation.

What, if anything, do all of these adjustments have in common?