... internal control system and the fairness of the amounts reported in the financial statements are known as: Management Discussion and Analysis Assurance Opinions Notes to the Financial Statements Management ... FASB and IASB GAAP and FASB SEC and FASB EU and SEC Net income is equal to: Assets minus Liabilities Revenues and Gains minus Expenses and Losses Shareholders’ Equity minus Assets Revenues and ... contract a note due to a bank salary due employees at year-end accounts payable Assets for a particular business might include cash, retained earnings, and accounts payable cash, common shareholders’...