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?

From what part of income should someone take savings?

Reynolds corp. factors $400,000 of accounts receivable with mateer finance corporation on a without recourse basis on july 1, 2015. the receivables records are transferred to mateer finance, which will receive the collections. mateer finance assesses a finance charge of 1 ½ percent of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable to cover sales discounts, returns, and allowances. the transaction is to be recorded as a sale.required: a. prepare the journal entry on july 1, 2015, for reynolds corp. to record the sale of receivables without recourse.b. prepare the journal entry on july 1, 2015, for mateer finance corporation to record the purchase of receivables without recourse— think through this.c. explain the difference between sale of receivables with recourse as oppose to without recourse.

What legislation increased the ability for federal authorities to tap telephones and wireless devices, tightened the enforcement of money laundering activities, as well as broadened powers toward acts of terrorism and acts such as drug trafficking?