Why are simple facts and concepts so difficult for the marketing comedians and spam hypsters? When they clearly have zero knowledge of the relevant FACTS, there can only be one intention for their speculation --> deception.
"The federal securities laws require publicly held companies that file reports with the SEC to submit financial statements that are accurate, truthful, and complete and prepared according to a set of accounting standards called "Generally Accepted Accounting Principles" (or "GAAP")"
"Relevance means that the information presented in financial statements (and other public statements) should be appropriate and assist a person evaluating the statements to make educated guesses regarding the future financial state of a company.(you know like whether a company is incorporated or not)
Reliability means simply that the information presented in financial statements is reliable and verifiable by an independent party. Basically a company must confirm that if an independent auditor were to base their reports off of the same information that they would come up with the same results (like one auditor signing off a company is incorporated when it is not while another would not) . Following this generally accepted accounting principle (GAAP) also meansthat the company is representing a clear picture of what really happened (and is happening) (like if a company is incorporated)with their company
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