Match each annual report section with its description. Annual report sections: a. Letter to the shareholders b.
Question:
a. Letter to the shareholders
b. Financial summary
c. Management’s discussion and analysis
d. Auditors’ report
e. Management’s responsibility for the financial statements
f. Management’s report on internal control over financial reporting
g. Board of directors
Description:
__________ Statement of independent opinion on whether the financial statements are presented fairly and in compliance with U. S. GAAP.
__________ Description of the body that oversees the activities of the company and its members.
__________ Statement from the chief executive that discusses company highlights of the past year and the outlook for the future.
__________ Statement from the chief executive officer and chief financial officer that they are in charge of the preparation and presentation of the financial statements.
__________ Overview of selected financial data for at least the past five years.
__________ Description of significant aspects of the company’s financial condition and results of operations, including liquidity, capital resources, results of operations, off-balance sheet arrangements, and contractual obligations.
__________ Statement from the chief executive officer and chief financial officer that they have assessed the processes used in preparing the financial reports.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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