Question: What are alternative accounting methods? Provide 1 example. What is pro forma income? What is its purpose? What are the 3 basic tools for financial

What are alternative accounting methods? Provide 1 example.

What is pro forma income? What is its purpose?

What are the 3 basic tools for financial statement analysis? Explain each.

What is the importance of data analysis in the accounting process?

Standard-setting environments are discussed in Ch. 2, "A Further Look at Financial Statements," of accounting. What is a standard-setting environment? Identify 1 example and describe how it functions.

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