What are the key accounting assumptions, accounting homework help

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  • 1. Why are financial statements important to internal users, such as employees, managers, and directors?
  • 2. What are the key accounting assumptions ?
  • 3. What impact do these key accounting assumptions have on financial statement reporting?
  • 4. What are the three primary financial statements covered in the video and what type of information do they provide to users?
  • 5. When it comes to integrity, do you think that accountants should be held to a higher standard than other professions? If so, why? If not, why not? Do you think that ethical standards have changed in recent years?
  • 6. How does your organization as a whole utilize the financial statements in day to day decision making? How do you use them in your day to day situation?
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