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Full Disclosure Paper

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Issue:

Business

 

Written by:

Mary B

 

Date added:

September 3, 2013

 

Level:

 

Grade:

A

 

No of pages / words:

3 / 833

 

Was viewed:

9827 times

 

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Essay content:

This paper will also include an explanation of the need for full disclosure in financial reporting as well as identify possible consequences of failing to properly disclose certain items in financial statements. The full disclosure principle in accounting states, “…any and all information that affects the full understanding of a company's financial statements must be include with the financial statements” (Bookkeeper List, n...
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Some information such as pending lawsuits, losses due to fire or flood and mergers will need to be disclosed in the notes that accompany the financial statements, even though sometimes they may not affect the ledger accounts. However, full disclosure does mean more than the financial statements and the notes that accompany the statements...
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General issues of this essay:
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