Posted by Purplerose on Friday, July 31, 2009 at 9:11am.
Accountants want to honestly believe that management uses these reports to make decision, in fact, I have never known a single top manager to use these documents for an investment or operational decision. These statements are used to reflect what is going on, not to determine what is going on.
Your accounting instructor may have a differing view, so be cautious.
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