Please answer the following 7 discussion questions inatleast 100 words per question. Do not answer them as an essay. Please answer them under the question set.
- How does GAAP affect financial reporting?
- How does GAAP need to change to accommodate today’s dynamic business environment?
- What tools can be used for financial statement analysis?
- What kinds of business decisions can be made using these tools?
- Explain the difference between financial reporting and financial statements.
- What three factors would influence your evaluation as to whether a company’s current ratio is
good or bad?
- Suggest several reasons why a 2:1 current ratio might not be adequate for a particular company.y.
