This document ACC 220 Week 3 Discussion Question 1 and Discussion Question 2 comprises solution of this tasks:
1. When reviewing a financial report, why should information be reliable, relevant, consistent, and comparable? In other words, why are these accounting characteristics important? What kinds of problems could be created if a financial report is not reliable, relevant, consistent, or comparable?
2. How does information from financial reports influence business decisions? Why is it important for business managers to understand the information found on financial reports?