Chapter 3 - Basis for the Presteforte er the financial Statements Chapter 3 - Basis for the Presentation of the Financial Statement What is the objective of the Securities and Exchange Commission? 14. 10. Describe some limitations of the financial statements 15 How are reporting entities classified based on Securities Regulation Code of the Securities and Exchange Commission? 11 What types of information are presented in the Notes to the Financial Statements? 16 What financial reporting framework should be adopted by each classification of reporting entity in item number 15 above? 12 Why should financial statements be communicated at least annually? 13. How is the feature of materiality and aggregation applied in the presentation of financial statements? 101 102