Todays Accounting Practices On September 28, 1998, Chairman of the U.S. Securities and Exchange missionary work Arthur Levitt sounded the call to arms in the financial community. Levitt asked for, immediate and organize action to assure credibility and transp arency of financial reporting. Levitts speech emphasized the importance of clear financial reporting to those gathered at New York University. Reporting which has bowed to the pressures and tricks of bread management. Levitt specifically addresses five of the most popular tricks used by firms to smooth earnings.
Secondly, Levitt outlines an eight part action plan to incur the integrity of financial reporting in the U.S. market place. What are the basic objectives of financial reporting? Generally accepted accounting system principles provide information that identifies, measures, and communicates financial information about economic entities to reasonably knowledgeable users. Information that is a source of finale making fo...If you want to get a full essay, army it on our website:
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