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How might changing one of the financial statements affect the other financial statements?
no
stockholders creditors suppliers and employees
The question applies only to corporations because only corporations issue publicly traded stock. Stockholders that own shares of the corporation's stock only have the right to see publicly disclosed financial statements. That includes an Income Statement and a Balance Sheet Statement. These are issued at least annually but usually quarterly. Legally, the corporation can only issue these statements at times when the information is available to all stoholders. Detailed expense reports are not issued to stockholders. You can find most Financial Statements online at nasdaq.com.
Business firms, particularly those with stockholders, must prepare honest and conservative financial statements.
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quartwly
With a separation of management and ownership in corporations, there also arose a need for an independent party to review the financial statements.
J. A. Gonzalo has written: 'Spain' -- subject(s): Accounting, Corporations, Financial statements
David F. Hawkins has written: 'Accounting for leases' -- subject(s): Accounting, Leases 'Corporate financial disclosure, 1900-1933' -- subject(s): History, Law and legislation, United States, Financial statements, Disclosure of information, Corporations, Accounting 'Corporate financial reporting and analysis' -- subject(s): Corporation reports, Corporations, Accounting, Financial statements
Karen P Schoenebeck has written: 'Interpreting and analyzing financial statements' -- subject(s): Case studies, Asset-liability management, Financial statements, Corporations, Ratio analysis, Investments
How might changing one of the financial statements affect the other financial statements?
Corporations are not necessarily required to protect the interest of the stockholder. That's the stockholder's problem. However, corporations are required to report their financial position fairly. In doing so, investors are then able to rely on the corporation's financial statements.
Hans Armbrust has written: 'Aktienrechtliche Bewertungsvorschriften des Auslandes' -- subject(s): Corporations, Financial statements, Valuation
Financial Statements Are Derived from Historical Costs. ... Financial Statements Are Not Adjusted for Inflation. ... Financial Statements Do Not Contain Some Intangible Assets. ... Financial Statements Only Cover a Specific Period of Time. ... Financial Statements May Not Be Comparable. ... Financial Statements Could be Wrong Du