Most Financial Reports Contain the Following List of Basic Elements

question 114

Essay

Most financial reports contain the following list of basic elements.For each element identify the person(s)who prepared the element and describe the information a user would expect to find in each element.
$\begin{array}{|l|l|l|}\hline \text { Elements } & \text { Prepared By } & \text { Information Provided } \\\hline \text { Management } & & \\\text { Discussion \& } & & \\\text { Analysis } & & \\\hline \text { Financial Statements } & \\\hline \text { Notes to Financial } & \\\text { Statements } & \\\hline \text { Report of } & \\\text { Independent } & \\\text { Accountants } & \\\hline\end{array}$

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Definitions:

Conventional Level

A stage in Kohlberg's theory of moral development characterized by an adherence to rules and conventions based on societal standards and laws.

Kohlberg's Theory

A theory of moral development proposing that individuals progress through a series of stages in their ability to make ethical decisions.

Moral Development

The process of gradually acquiring values, attitudes, and behaviors considered morally right in one's culture.

Postconventional Level

A stage in Kohlberg's theory of moral development where moral reasoning is based on abstract reasoning and principles, beyond societal norms.