Public firms reporting under U.S. GAAP are required to use accrual accounting. What are some of the pros and cons of accrual accounting versus cash accounting? Considering your findings, which type of accounting do you believe is a better representation of firm economics? What other disclosure sources, besides financial statements, are available to firm outsiders in today's modern age? How has information availability and the volume of information, with respect to firm financial reporting, changed a firm outsider's ability to assess firm economics?