When you are interesting financial ratios, it is useful to compare a company's ratios to some form of standard. Interpreting financial analysis should be considered in light of conditions particular to the industry and the general economic conditions. Notes to the financial statements are generally not useful. An opinion stating that the financial statements present fairly the financial position, results of operations, and cash flows of the company is said to be qualified opinion. Unusual items affecting the prior period's income statement are common in accounting. When a corporation discontinuous a segment of its operations at a loss, should be reported as a item before income from continuing operations on the income statement. Managerial accounting reports are prepared according to generally accepted accounting principles. Since there are few rules to restrict how an organization chooses to arrange its own internal data for decision making, managerial accounting provides sample opportunity for creativity and change