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6. Describe the overriding philosophy for interim financial reporting. 17. Do the requirements of FASB ASC Topic 280 apply to financial statements for interim periods?

6. Describe the overriding philosophy for interim financial reporting.

17. Do the requirements of FASB ASC Topic 280 apply to financial statements for interim periods? If so, how?

18. Explain how a company estimates its annual effective tax rate for interim reporting purposes. Describe the accrual of income taxes for interim reporting periods.

19. What is the difference between the integral theory and the discrete theory with respect to interim financial reporting?

20. Describe the minimum financial information to be disclosed in interim reports under the provisions of FASB ASC Topic 270.

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