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Public companies are required to publish annual financial
statements. Suggest the major benefits of companies making
financial statement information available to employees. As an
employee, discuss what financial information would be of value
to you. Provide at least two (2) specific examples on why the
information is important.
Briefly explain generally accepted accounting principles
(GAAP), and describe why it is important that public companies
follow GAAP when preparing financial statements. Also, give
your opinion on whether private companies should be required
to follow GAAP. Provide a rationale for your opinion.

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