Many investors believe they know everything there may be to know of companies, but the SEC made that all happen in its ruling about disclosers in its financial statements in 2002. The SEC now was able to make it possible for everyone, not just insiders to see the company for who they truly were. No creative accounting policy could be done with about a thorough explanation in the companies annual 10-K report. The reason many of us understand these important changes are from the demise of companies as Enron, and WorldCom; which both used creative accounting techniques that were never disclosed to its shareholders. The rules suddenly began to change and critical accounting polices began to become very important. The importance of these policies is not only to clarify the data for investors, but also to explain where the company feels its changes are positive or negatively effecting the company. - oppapers.com
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