Acct 551 final project
During the course you will be required to develop a Course Project having to do with writing notes for a fictitious annual report. You will hand in the project at the end of Week 8.In order to assist you in writing the notes, you may use the notes for Proctor & Gamble, as shown on pages 246–277, or you may use those shown as examples in Chapter 24. Although you may use these as an example, you are not to use their actual notes, or the notes from any other company, because this would be considered plagiarism (and if discovered, would result in a grade of “F,” or zero points for the assignment).Your project should consist of; but not be limited to, the items below.
Note 1: Significant Accounting Polices (consisting of at least 10 items) Notes 2–10+: Consisting of at least the items below.
Inventory Property, Plant, & Equipment Contingencies and Liabilities Changes in Accounting Principles or Estimates Post Balance Sheet Events Mergers and Acquisitions Lease Obligations EPS Long-Term Debt Employee Pension Obligations examine the cash flow statement carefully because they are concerned about being paid. The net cash flow provided by operating activities in relation to the company’s liabilities is helpful in making this assessment. Two ratios used in this regard are the current cash debt ratio
243
244 and the cash debt ratio. In addition, the amount of free cash flow provides creditors and stockholders with a picture of the company’s financial flexibility.
Determine which balance sheet information requires supplemental disclosure. Four types of information normally are supplemental to account titles and amounts presented in the balance sheet: (1) Contingencies: Material events that have an uncertain outcome. (2) Accounting policies: Explanations of the valuation methods used or the basic assumptions made concerning inventory valuation, depreciation methods, investments in subsidiaries, etc. (3) Contractual situations:
Note 1: Significant Accounting Polices (consisting of at least 10 items) Notes 2–10+: Consisting of at least the items below.
Inventory Property, Plant, & Equipment Contingencies and Liabilities Changes in Accounting Principles or Estimates Post Balance Sheet Events Mergers and Acquisitions Lease Obligations EPS Long-Term Debt Employee Pension Obligations examine the cash flow statement carefully because they are concerned about being paid. The net cash flow provided by operating activities in relation to the company’s liabilities is helpful in making this assessment. Two ratios used in this regard are the current cash debt ratio
243
244 and the cash debt ratio. In addition, the amount of free cash flow provides creditors and stockholders with a picture of the company’s financial flexibility.
Determine which balance sheet information requires supplemental disclosure. Four types of information normally are supplemental to account titles and amounts presented in the balance sheet: (1) Contingencies: Material events that have an uncertain outcome. (2) Accounting policies: Explanations of the valuation methods used or the basic assumptions made concerning inventory valuation, depreciation methods, investments in subsidiaries, etc. (3) Contractual situations: