One page paper
Please answer the following questions in one page:
1. Relevance and faithful representation are the qualitative characteristics of useful information under SFAC No. 8. How does ethical reasoning enter into making determinations about the relevance and faithful representation of financial information?
2. Evaluate earnings management from a utilitarian perspective. Can earnings management be an ethical practice? Discuss why or why not.
3. Explain how a company might use the accounting rules for impairment of long-lived assets to manage earnings.