Accounting Week 3 Discussion Questions 2015

| September 28, 2018

DQ 1 WK3 Balance Sheet and its Limitations What information is contained in the balance sheet? What are limitations of the balance sheet? How can balance sheet limitations be overcome? DQ 2 WK 3 Balance sheet Estimates Describe a situation in which estimates could affect the usefulness of information in the balance sheet. DQ 3 WK 3 Subsequent Event What is a subsequent event and how does this affect disclosure ? DQ 4 WK 3 Meaning of Full Disclosure What does full disclosure mean? How does full disclosure affect financial reporting? Are there any ethical implications to what must be reported in order to comply with full disclosure? Explain. What recommendations would you make to management regarding what must be disclosed?

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