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Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281

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BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281
Textbook Problem
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What are the primary sources of useful information identified in the model?

To determine

Describe the primary sources of useful information identified in the financial reporting model.

Explanation

Accounting Information:

Accounting information helps in measuring and communicating economic events in business. Accounting concepts and accounting information guides the enterprise in managing the business activities and helps in monitoring the method of invest the money and receiving money.

  • The three main primary sources of useful information that are identified by the FASB conceptual framework are financial statements, notes to the financial statements and supplementary information...

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