The AICPA Special Committee on Financial Reporting Developed a Comprehensive $\underline{\quad\quad}$

question 79

Short Answer

The AICPA Special Committee on Financial Reporting developed a comprehensive model of business reporting in an attempt to provide a foundation for future improvement in business reporting.The five statements below relate to the five categories of information outlined in the committee's work.
a. $\underline{\quad\quad}$ and $\underline{\quad\quad}$ including(1) financial statements and related disclosures and.(2) high-level operating data and performance measurements.

b. $\underline{\quad\quad}$ of the financial and nonfinancial data, including(1) reasons for changes in the data and (2) the identity and past effect of key trends.

c. $\underline{\quad\quad}$ including(1) assessment of opporturities and risks, (2) management's plans, and (3) comparis on of actual performance to previously disclosed opportunities, risks, and plans.

d. $\underline{\quad\quad}$ about $\underline{\quad\quad}$ and $\underline{\quad\quad}$ including(1) directors, management, compensation, and major shareholders and (2) transactions and relationships among related parties.

e. $\underline{\quad\quad}$ about the $\underline{\quad\quad}$ including (1) broad objectives and strategies, (2) scope and description of the company's business and properties, and (3) the impact of incustry structure. Required:
Fill in the blanks in each statement above with the appropriate information category.

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Definitions:

Obey

To follow the directives or commands of someone with authority or a set of rules or laws.

Social Category

A grouping of people based on shared characteristics or attributes, which may not necessarily lead to social interaction or shared identity.

Record

Documentation or evidence of events, activities, or achievements, maintained in written, digital, or another form.

Bureaucracy's Goals

The objectives or aims pursued by a bureaucratic organization, typically including efficiency, predictability, and rationalization in the administration of public and private affairs.