Taking the Entity's Temperature: What financial statements can tell about an enterprise (Family Advocate Vol. 31, No. 4, Spring 2009)
Brenda M. Clarke
The primary objective of financial reporting is to communiicat understandable information useful to the reader. To achieve this objective, the information must be accurate, timely, and in the proper format. The standard framework for guidelines and procedures in the United States for financiia reporting is Generally Accepted Accounting Principles (GAAP), which includes mandatory standards, conventions, and rules that must be followed when reporting financial data for certain entities such as...