Financial statements are generally geared toward the guidance of generally accepted accounting principles which has a primary focus on historical costs and reporting historical events. As such, extra work must be done to obtain and manipulate the information available in the financial accounting systems to be more useful to the company in terms of future predictability. With this in mind, respond to the following question in your initial discussion post:

In order to resolve this need for duplicative internal work and to make financial reporting more timely, do you believe that generally accepted accounting principles should be revised to allow the fair value reporting that is needed in a managerial accounting environment rather than only allowing historical cost? Why or why not?

answer; ///(d) stand out from all of the others;

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.