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Accrual based accounting is a requirement of Generally Accepted Accounting Principles (GAAP). The use of both the Matching Principles and Revenue Recognition Principles has both benefitted and undermined the reliability of the reporting process. Discuss the implications of accrual based accounting in the financial statement reporting process. Provide specific indicators of problems which might lead a reader to discover a potential misstatement or misrepresentation in the financial statements. Discuss the impact that restatements have on the credibility of the reporting process. Include specific references to cases discussed in class

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9979757

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