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Issues in financial reporting




Issues in financial reporting;Hardly a day goes by without an article appearing on the crises affecting many of our financial institutions in the United States. It is estimated that the savings and loan (S&L) debacle of the 1980s, for example, ended up costing $500 billion ($2,000 for every man, woman, child in the United States).Some argue that if the S&Ls had been required to report their investments at fair value instead of cost, large losses would have been reported earlier, which would have signaled regulators to close those S&Ls and, therefore, minimize the losses to U.S. taxpayers.;Explain how reported accounting numbers might affect an individual?s perceptions and actions. Cite two examples.


Paper#29212 | Written in 18-Jul-2015

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