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Law, Acct

In:

Submitted By wangpr0814
Words 479
Pages 2
Memo
TO: Anthony R. Bowrin
From:
Date: 2011/9/29
Subject: Concept Framework of Accounting
CA 2-10 (Qualitative Characteristics)
Dear Uncle Carlos,

I have already received the financial information from Neville Corp. From my point of view, it would be unwise to invest on Neville Corp base on the financial information they provided. The reason to explain why it would be unwise is that the financial information they provide is not faithful and relevant.
First of all, the financial information they provided is only one years old We are not able to make decisions base on this kind of financial information. In order to make their financial information relevant, the information should be timely. Only one year old is too short, things could change in a year.
Secondly, the financial information didn’t show the comparisons with the amount from other years. In order to make an successful investment, we have to know how the company operates to increase it profits and predict the future value of this company. The financial information they provided didn’t show anything about how to increase their profits.
Thirdly, the financial information is directly written by Mrs. Neville instead of other neutrals. It is hard to believe the financial information they provided is absolutely reliable.

From my opinion, it is unwise to invest in Neville bonds. Before you made the decision, please contact me.

Sincerely.

XXX

CA 2-11 (Expense Recognition Principle) (a) The stakeholders should be considered as investors or creditors. (b) Honest of financial report (c) Whether apply the expense recognition principle during the plant’s period or not to apply. (d) I think the question is whether or not apply the recognition principle during the plant’s life. Applying the expense recognition principle will reduce the profits, make the expense

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