Accounting 10, 20, 30

(a)	Generate a list of who (e.g., insurance agencies, Canada Revenue Agency, financial institutions) needs access to financial statements and discuss the purpose of granting access.
(b)	Define bad debts and depreciation as used within financial statements.
(c)	Discuss how bad debts, depreciation, and inventory valuations assist in assuring that assets are represented as accurately as possible on financial statements.
(d)	Explore the inquiry questions: Who is interested in the accurate calculations of assets? Is it practical to aim for no bad debts in every situation? What impact does Canada Revenue Agency have on the amount of bad debt a company may claim?
(e)	Assess the impact of the GAAPs (e.g., historical cost, adequate disclosure, matching revenue with expenses, consistent reporting) on what is reported on financial statements.