SAINT ACC498 module 1 and module 2 discussions

module 1

Discussion question 1

Which of the major financial statements do you think is the most
important? In other words if you were looking at investing in a company
which financial statement would you look at first? You can even break
it down to one part of a financial statement. I will give my answer at
the end of the module. module 2

Discussion question 2

You are talking to someone who knows nothing about generally
accepted accounting principles. Explain to this person what GAAP is.
Also explain the difference between accrual and cash-basis accounting.
are there certain businesses that would more then likely use cash-basis
accounting?