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7 Discussion Questions- Auditing Class

Please answer the following 7 discussion questions inatleast??100 words??per question. Do not answer them as an essay. Please answer them under the question set.

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1. How does GAAP affect financial reporting?

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2. How does GAAP need to change to accommodate today’s dynamic business environment?

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3. What tools can be used for financial statement analysis?

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4. What kinds of business decisions can be made using these tools?

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5. Explain the difference between financial reporting and financial statements.

6. What three factors would influence your evaluation as to whether a company???s current ratio is

good or bad?

7. Suggest several reasons why a 2:1 current ratio might not be adequate for a particular company.y.

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