What adjustments might management make to the financial information when preparing the annual financial statements? Consider the

Question:

What adjustments might management make to the financial information when preparing the annual financial statements? Consider the following categories:
a. Current asset accounts
b. Non-current asset accounts
c. Current liability accounts
d. Non-current liability accounts.
Indicate several examples in each category. Use the BDCC and notes 3 and 5 for ideas. Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...