1. Based on Chapter 2 explain: Further Look at Financial Statements
2. In your own opinion how are financial statements useful to managers and employees?
3. How are financial statements useful to investors and creditors?
4. Explain.by providing support an opinion and explain why
5. Based on Chapter 2 Explain what a transaction is ?
6. After identifying a transaction what are the first three steps in the accounting process and can you provide an example of how these steps would be completed (this will help with this weeks exercise)?
Writea 700- to 1050-word summary of your team’s discussion regarding IFRS versus GAAP. The summary should be structured in a subject-by-subject format.
Includean introduction and a conclusion. Your discussion should include the answers to the following:
Formatyour paper consistent with APA guidelines (see rubric).

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