Todays Accounting Practices On September 28, 1998, Chairman of the U.S. Securities and Exchange missioner work Arthur Levitt sounded the call to arms in the financial community. Levitt asked for, straightaway and organize action to assure credibility and transp atomic number 18ncy of financial coverage. 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 earnings 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 produce the integrity of financial reporting in the U.S. market place. What are the basic objectives of financial reporting? Generally accepted account statement system principles provide information that identifies, measures, and communicates financial information rough 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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