SEC Standards; Cash Flows Activity; and Significant Accounting
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What is the SEC and how is it involved with accounting standard setting?
Give an example of a major investing activity cash outflow that would be reported the statement of cash flows for a manufacturing company.
Explain the purpose of disclosure notes on significant accounting policies.
Provide two examples of what might found in this note.
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Solution Summary
This solution of 251 words gives background information on the SEC standards, example of a major cash flow for a manufacturing company and examples purpose of disclosure notes with examples.
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The SEC (Securities and Exchange Commission) is the governing body of the US financial markets. The SEC is involved, primarily, with the accounting practices of public companies as it relates to shareholder 'right to know'.
One example of a major investing activity cash outflow reported in the statement of cash flows for a manufacturing company would include the material sale of an asset for ...
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