Financial Statements Discussion

Which of the required financial statements explain the difference between two balance sheet dates? Describe how these financial statements explain the difference between two different balance sheets completed on different dates. Do you agree or disagree with the statement: “Because many estimates are used in the preparation of financial statements, the statements are not a meaningful and accurate measurement of the financial position of a company.” Why/why not? Is the use of estimates in accounting ethical? Why/why not?

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