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The important financial reporting issues are accounting estimations and valuations for various operating activities. For...

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Finance

The important financial reporting issues are accounting estimations and valuations for various operating activities. For example, they discuss the in-depth implications of revenue recognition, sales allowances, deferred revenue (unearned revenue we learned from previous modules), foreign currency exchange fluctuations on the revenues, and account receivables, etc. These topics have direct impacts on our income statements and have significant implications for earnings management. In 350 typed words or more (in paragraph format), discuss the main topics and focus on how each item would affect financial reporting in general.

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