Most financial reports contain the following list of basic elements. For each element, identify the person(s) who prepared the element and describe the information a user would expect to find in each...


Most financial reports contain the following list of basic elements. For each element, identify the person(s) who prepared the element and describe the information a user would expect to find in each element. Some information is verifiable; other information is subjectively chosen by management. Comment on the verifiability of information in each element.


1. Management discussion and analysis


2. Product/markets of company


3. Financial statements


4. Notes to financial statements


5. Independent accountants’ report



May 04, 2022
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