ACC 541 Week 1 Discussion

Post a total of 3 substantive responses over 2 separate days for full participation. This includes your initial post and 2 replies to classmates or your faculty member.

Due Thursday

Respond to the following in a minimum of 175 words:

Evaluating disclosure requirements for financial reporting is one of this week’s objectives. There is widespread agreement that disclosure requirements are increasing. Additionally, there is general industry consensus that the cost of disclosure can be expensive, whereas the benefits are typically difficult to assess.

• • Explain the benefits that the accounting profession gained after adopting a full disclosure principle.
  • Discuss some of the reasons why disclosure requirements are increasing.
  • Discuss possible industry reactions to firms that fail to adopt high-quality reporting policies.

Due Monday

Reply to at least 2 of your classmates with a minimum of 175 words. Be constructive and professional in your responses.

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