Are financial statements reliable and trustworthy

Yes, the vast majority of audited financial statements are presented fairly according to established standards, which are called generally accepted accounting principles. If not, the CPA auditor calls deviations or shortcomings to your attention. So, be sure to read the auditor's report. You should realize, however, that financial accounting standards are not static. Over time these profit measurement methods and disclosure practices change and evolve.

Accounting's rule-making authorities constantly monitor financial reporting practices and problem areas. They make changes when needed, especially to keep abreast of changes in business and financial practices, as well as developments in the broader political, legal, and economic world that business operates in. (See Chapter 19 for review.)

The Power Of The Entrepreneurs Mind

The Power Of The Entrepreneurs Mind

The revenue is in the list. Youve likely heard that previously correct? Well, thats not precisely true. Not the complete truth anyhow. The greatest obstacle you face and have to defeat when you publish a ezine or put any free or paid info out there's the fact that individuals have gotten used to receiving junk from your rivals disguised as helpful free or paid info.

Get My Free Ebook


Post a comment