1. Accounting is subject to the rules of Generally Accepted
Accounting Principles (GAAP), which sets provisions for how
accounting information is presented. Sometimes, GAAP requires
actions that affect reported financial results, think revemue
recognition, reserves for doubtful accounts, alternative
depreciation methods, accounting for taxes. Do accounting profits
provide a good measure of business performance? Why or why
not?
2. The goal of financial management is to maximize the wealth of
the shareholders. Do you think management should focus more on...