principles of the conceptual framework
Please write about the following items in your own words. I expect you to respond in a well thought out manner that fully incorporates your understanding of the material. You should be able to make these topics flow together since they are all related. I am looking for your words, to show me your understanding of the material and that you are making the connections at the higher level to put those pieces together. Discuss how the principles of the conceptual framework are the heart of accounting. What are they? How do they relate to each other? Explain the difference between HTM, AFS, and Trading securities. Be sure to include how each are valued on the financial statements and the reasoning why. Also discuss your thoughts on where you think management might try to hide riskier investments if they did not want the public to know. What is the purpose of the Statement of Comprehensive Income and the components of it? Describe how the income statement, statement of comprehensive income, balance sheet, statement of changes in stockholders’ equity, and the statement of cash flows are all connected to each other.