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    Importance of accurate/timely accounting information

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    Why is it important for accounting information to be accurate and timely? How can this be achieved?

    © BrainMass Inc. brainmass.com June 3, 2020, 6:31 pm ad1c9bdddf
    https://brainmass.com/business/accounting/importance-of-accurate-timely-accounting-information-63794

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    It is extremely important for accounting information to be accurate and timely in order to present a clear and accurate view to the various stakeholders of the company such as management and promoters, general public and shareholders if it is a publicly traded company, investors and analysts, etc. Further, it is important to submit accurate financial statements in a timely manner from legal point of view as well.

    Timely and accurate presentation of financial statements helps the management and other people ...

    Solution Summary

    Why is it important for accounting information to be accurate and timely?

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