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In: AccountingMembers of the financial community often allege that corporatemanagers “manage” their company’s reported accounting results....Members of the financial community often allege that corporatemanagers “manage” their company’s reported accounting results. Toaccomplish this, they commonly use “discretionary accountingaccruals.” Discuss the possible motivations behind this behavior.Could you envision a situation where a manager might manage acompany’s earnings downward? If so, why?When a company’s management or its independent auditors discovermisstatements in financial statements, they are required toevaluate the nature and materiality of misstatements, and makedecisions to issue financial restatements. What are the negativeimplications associated with financial restatements?