Financial Statements

Question 1 ( In 300 words ) /0x4*

Which of the required financial statements explain the difference between two balance sheet dates?
Describe how these financial statements explain the difference between two different balance sheets completed on different dates.
Do you agree or disagree with the statement: “Because many estimates are used in the preparation of financial statements, the statements are not a meaningful and accurate measurement of the financial position of a company.” Why/why not?
Is the use of estimates in accounting ethical? Why/why not?

Question 2
You have been assigned to train new consultants on the impact of the Sarbanes-Oxley Act of 2002 on financial reporting.

Prepare a 15 slide PowerPoint presentation with notes & a Word document for use in a training session with the new consultants.

Include an explanation of what the Sarbanes-Oxley Act is.
Include an explanation of the impact it has on the financial reporting of publicly-traded companies.
Include at least 2 properly formatted references.
Prepare a Word document that includes the notes from the slides that you can use as a handout during the presentation.
Use proper APA format for the Word document.

Question 3 ( In 750 words )

You have recently hired several new members to your team who will be assisting with financial statement analysis for your clients. As part of their training, you want to make sure that they fully understand the requirements of the SEC regarding financial reporting and the tools available to analyze the financial performance of a firm.

Explain all of the following:
outline the governing authorities over financial reporting
outline the financial reporting requirements of the SEC
describe 2 tools one could use to analyze the financial performance of a firm describe the tools explain how each might be useful in the analysis

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