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Fundamentals of Financial Manageme...

15th Edition
Eugene F. Brigham + 1 other
ISBN: 9781337395250

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BuyFindarrow_forward

Fundamentals of Financial Manageme...

15th Edition
Eugene F. Brigham + 1 other
ISBN: 9781337395250
Textbook Problem

Financial statements are based on generally accepted accounting principles (GAAP) and are audited by CPA firms. Do investors need to worry about the validity of those statements? Explain your answer.

Summary Introduction

To explain: If investors need to worry about the validity of financial statements based on generally accepted accounting principles and audited by certified public accountant firms.

Introduction:

Financial Statements: A part of annual report is used to report the financials data of the company for an accounting period. Financial data is reported by balance sheet, income statement, statement of stockholder’s equity, and cash flow statement. These four statements are called financial statements.

Explanation
  • The audited financial statements are valid across the globe as they are supposed to be according to the laws applicable to the business.
  • Investors need to be aware about the policies and...

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