1. What information should an investor be able to find within the financial statements and why is is important that they be reviewed by a third party! 2. Firms speak of the use of Generally Accepted Accounting Principles (GAAP). Why is this approach important and who assures that it is followed? (There are several parties involved) 3. What is accrual accounting and how does it differ from cash based acconting? 4. What information does the balance sheet contain as compared to the income statement? Class