Intermediate Accounting (16th Edition)

Published by Wiley
ISBN 10: 1118743202
ISBN 13: 978-1-11874-320-1

Chapter 6 - Accounting and the Time Value of Money - Review and Practice - Using Your Judgment - Financial Statement Analysis Case - Page 312: c

Answer

Despite the yearly revisions of estimates, the information is useful because probabilities are used in forecasting the amounts of cash flows that will be generated in the coming years. The estimates offer relevant information concerning the present values of the anticipated cash flows.

Work Step by Step

Despite the yearly revisions of estimates, the information is useful because probabilities are used in forecasting the amounts of cash flows that will be generated in the coming years. The estimates offer relevant information concerning the present values of the anticipated cash flows.
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