The text makes the following statement: however, an implicit assumption is that users {of financial statements} need reasonable knowledge of business and financial accounting matters to understand the information contained in financial statements."

How accurate is this assumption given the increase in mobile banking tools that allow stock other security exchanges by almost any one. Is it the responsibility of the accounting profession to accommodate the new users? What allocation of responsibility is given to the mobile banking tool? How about to the user?

You must cite one source. You must post an original thread and comment at least once on another student's thread.