How Good Ideas Still Lead to Bad Reporting.

The article focuses on the aspects of accounting reports error through accounting process considering the U.S. Securities and Exchange Commission (SEC) policy requirements under Generally Accepted Accounting Principles (GAAP). Topics discussed include the importance of considering immaterial items such as minor fixed assets, overhead costs and straight-line interest expense, the proposal of adjustments by auditors, and the implication of quantifying the effect of the policy on companies.