INTERMEDIATE INTERMEDIATE ACCOUNTINGACCOUNTING6th EDITIONLanny G. ChasteenRichard E. FlahertyMelvin C. OConnor1FINANCIAL FINANCIAL REPORTINGREPORTING2Learning ObjectivesDescribe the purpose of financial reporting and identify the primary financial statements.Explain the function of accounting standards and describe the role of the FASB in setting these standards in the United States.Recognize the importance to financial reporting of the SEC, AICPA, AAA, and IRS.3Learning ObjectivesRealize the gr