FASB recognizing the importance and potential impact of private company financial statements
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Select two of the differential factors identified by FASB that are of interest to you, and briefly explain why. Explain the factor and why it is different from a publicly traded company.
Identify the accounting risks associated with each of the chosen factors. What would you recommend to minimize those risks?
What components of the Balance Sheet have the most potential to be impacted by the differential factors you have chosen? Identify both positive and negative potential impacts. SWS paper format
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