Reference no: EM13976696
For this discussion, assume that you are the chief financial officer for your organization and that you are preparing the organization's financial statement footnotes. As you prepare and gather corporate information supporting the financial practices, policies, and procedures in your company, you consider the importance of the following six questions. Choose three of the following six questions, and describe what type of information would be included in the footnotes to the financial statements, how that information would be stated, and the significance of that information to the user of the financial statement:
What are the acceptable inventory valuation methods under U.S. GAAP? How does each affect the valuation of inventory and cost of goods sold?
Explain the accounting principle of lower of cost or market and how it relates to the income statement.
What do the ratios inventory turnover and days to sell inventory indicate to the financial statement users?
Can an organization change its selected inventory method, and, if so, is there an effect on current net income or retained earnings? Why or why not?
Compare and contrast depreciation, amortization, and depletion, giving an example of each.
How does net book value on fixed assets differ from fair market value of fixed assets, and how do they relate to liquidation?
|
Description of quantitative methods
: Description of quantitative method(s). Justify why you utilized this statistical method for your study. Analysis of the data (Discuss your results and include a separate sheet that shows your quantitative results in tabular or graphical form)
|
|
Find the magnitude of the net electric field charges produce
: Find the magnitude of the net electric field these charges produce at point A. In N/C. What would be the magnitude of the electric force this combination of charges would produce on a proton at A? In N
|
|
Acquire a small ice cream cart
: It will cost $3,500 to acquire a small ice cream cart. Cart sales are expected to be $2,700 a year for four years. After the four years, the cart is expected to be worthless as that is the expected remaining life of the cooling system. What is the pa..
|
|
Write a sql statement that will count the number of orders
: Write a SQL statement that will join the [Order Details ] table and [Products] table to determine the top selling product based on [Quantity]*[Unit Price].
|
|
Compare the depreciation-amortization and depletion
: For this discussion, assume that you are the chief financial officer for your organization and that you are preparing the organization's financial statement footnotes. What are the acceptable inventory valuation methods under U.S. GAAP? How does each..
|
|
Do you agree with thomas paine that government is necessary
: "Society in every state is a blessing, but government even in its best state is but a necessary evil; in its worst state an intolerable one; for when we suffer, or are exposed to the same miseries by a government, Do you agree with Thomas Paine th..
|
|
The projected net income from the project
: A project has an initial cost of $50,000 and a four-year life. The company uses straight-line depreciation to a book value of zero over the life of the project. The projected net income from the project is $1,800, $3,800, $4,400, and $4,500 a year fo..
|
|
The majority of an established firms capital
: The majority of an established firm's capital is generated: When sales are made without the accompaniment of a formal debt contract, the sales are said to be on:
|
|
Uses straight-line depreciation to a book value
: A project has an initial cost of $70,000 and a four-year life. The company uses straight-line depreciation to a book value of zero over the life of the project. The projected net income from the project is $2,800, $4,300, $4,900, and $4,500 a year fo..
|