Financial Statement Development and Analysis-
Quality, non plagiarized, timely work in APA format with references cited.
Upon completion of the Required Readings, write a thorough, well-planned narrative answer to the following discussion question. Rely on your Required Readings and the Lecture and Research Update for specific information to answer the discussion question, but turn to your original thoughts when asked to apply, evaluate, analyze, or synthesize the information. Your Discussion Question responses should be both grammatically and mechanically correct and formatted in the same fashion as the questions themselves. If there is a Part A, your response should identify a Part A, etc. In addition, you must appropriately cite all resources used in your responses and document them in a bibliography using APA style.
Accrual accounting dominates financial reporting. Companies recognize revenues when earned and expenses when incurred, regardless of when cash is received or paid for these activities. Discuss the following topics in light of this information. (20 points) (A 1½-page response is required.)
1. Do financial statement measures have to conform with GAAP to be useful to analysts? Explain.
2. Does cash flow earnings per share (CFEPS) have value in addition to the conventional accrual-based EPS measure? Why or why not?