There are three main parts to this case that requires you to prepare and submit a three to five page paper. Please make sure this paper is well organized and covers all of the items below.
Part I. Search the course background information, the Internet and/or the Online Library. Discuss the terms listed below. Your discussion should expand on the definition as given in the module background. Explain why these concepts are important to financial statements.
- Generally Accepted Accounting Principles (US GAAP);
- International Accounting Standards (IFRS);
- Securities and Exchange Commission (SEC);
- Annual report; and
- 10-K, 10-Q, and 8-K
Part II. Explain the basic formats of financial statements such as income statement, balance sheet, statement of cash flows, and statement for retained earnings.
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