2.11 Questions
Chapter 2:
Questions
Question 1:
What were the major Acts enacted by Congress that created
today’s Financial Reporting Environment in the US?
Question 2:
Provide a summary of the role of the SEC in today’s
financial reporting environment for public companies.
Question 3:
What are the main objectives of the SEC’s Interactive Data
Disclosure?
Question 4:
What are the four major financial statements?
Question 5:
Which Item of 10-K would you look to see the four
major financial statements and their supporting details?
Question 6:
Describe briefly the role of the auditor in a 10-K
filing to the SEC?
Question 7:
What is the role of the Auditor in the financial
reporting environment?
Question 8: What item in a 10-K contains the auditor's report?
Question 9:
Describe briefly what Item 7 of a 10-K contains.
Question 11:
If you need to access a quick summary of consolidated
financial information which Item in the 10-K would you look
at?
Question 10:
If you want to access the manager’s perspective on
the financial condition and results from operations, what
Item would you look at?