Please Note: I am not sure if the assignment calls for paragraphs or other information, however, if it calls for paragraphs, I need at least 3 for each. 

I need 3 paragraphs for each discussion which is a total of 6 paragraphs for the part that requires paragraph. Please keep both separate and address each question. Please make sure you check grammar and punctuation errors, as well as quoting and using in text citations. PLEASE make sure you cite the information, do NOT plagiarize and ADD all references. No Cover Page Needed PLEASE INBOX ME IF YOU HAVE QUESTIONS 

PLEASE inbox me if you need reading material on the assignment. 

Part 1 The Quality of Financial Information 

Referencing this week’s readings and lecture, describe the quality issues related to reporting revenue. What is the importance of understanding various inventory valuation methods in determining the quality of reported profits?

Part 2 Conflicts with GAAP

Even though firms follow the accounting rules (GAAP) when presenting their financial statements, it is still possible for conflicts of interest to exist between what management wants investors and creditors to see and the economic reality of transactions. Explain how this can occur.