The accountant of Fauntleroy Ltd is preparing financial statements for the current year end but is struggling to establish which information is more important. He has a shortlist of questions which need to be solved:
(a) In preparing the description of a very complex transaction he has two options:
(i) To use information from a close friend who holds shares in the company: the information prepared by his friend is somewhat biased but is very clear and concise; or
(ii) To use the information prepared by an independent analyst: this information is complex to the average person

Which piece of information is more appropriate for use in the financial statements? 

Answer rating: 100% (QA)

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