Solution-Under generally accepted accounting principles

Under generally accepted accounting principles

Reference no: EM13947404

Topic #1: Segment Reporting
Just as a house has rooms, a company has departments. These can be internal or external. These departments may be significant enough to have individual investor impact. If this is the case, they must be reported.
Now address the following questions regarding segment reporting:

Under Generally Accepted Accounting Principles, what is the definition of a business segment?
When must business segments be submitted?
How must business segments be submitted?
Provide an example of a firm that commonly reports its business segments.

I am also sending the second discussion to save money on fees.
Topic #2: Interim Reporting

Although the common period in business is a year, sometimes business relationships require a period of less than a year. This calls for special accounting treatment.
Respond to the following questions regarding interim reporting:

Under Generally Accepted Accounting Principles, what is the definition of an interim report?
When must interim reports be reported?
How must interim reports be reported?
Provide an example of an interim financial statement.

Reference no: EM13947404

Questions Cloud

The equipment is five-year property for MACRS : You own some equipment that you purchased four years ago at a cost of $287,000. The equipment is five-year property for MACRS. The MACRS rates are .2, .32, .192, .1152, .1152, .0576, for years 1 to 6, respectively. You are considering selling the equ..

Maximum acceptable value of the standard deviation : Is the company currently capable of meeting the industry group's specification standards if the company's minimum Cpk is 1.10? Explain. If it is not, explain if it is due to a drifting of the mean or too much variability. Explain.

Foreseeable future-solar panels installed : Your energy bill is expected to be $200 next month (month 1) and is expected to grow at 0.5% per month for the foreseeable future (aka forever). You read recently that installing solar panels on your roof will reduce your energy bill by 25% (so month..

Examine differences between reactive and proactive policing : Examine the differences between reactive and proactive policing. Summarize the broken windows theory, and explain how it has affected policing

Under generally accepted accounting principles : Just as a house has rooms, a company has departments. These can be internal or external. These departments may be significant enough to have individual investor impact. If this is the case, they must be reported.

Change in firms total monthly profits on present value basis : Microbiotics currently sells all of its frozen dinner’s cash on delivery but believes it can increase sales by offering supermarkets 1 month of free credit. The price per carton is $160, and the cost per carton is $95. The unit sales will increase fr..

Discuss benefits and drawbacks of perl. : Write a 3 to 5 page paper discussing the above, particularly the benefits and drawbacks of Perl.

Minimum power input needed to effect the soldering : Two long copper rods of diameter D = 10 mm are sol- dered together end to end, with solder having a melt- ing point of 650°C. The rods are in air at 25°C with a convection coefficient of 10 W/m2 · K. What is the minimum power input needed to effec..

What is the future value-intermediate calculations : What is the future value of $1,690 in 16 years assuming an interest rate of 8.00 percent compounded semiannually? (Do not include the dollar sign ($). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations.

User Account

All Pages

Under generally accepted accounting principles

Reference no: EM13947404

Reference no: EM13947404

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

Venice corporation manufactures a variety of liquid lawn

In the month of april a department had 500 units in the

Shannon inc has been manufacturing its own shades for its

Types of price discrimination and explain

What is the investments net present value when the discount

Exchange of lands-taxation

Elwood inc uses a job-order costing system in which any

Plantwide versus department overhead rates

Evaluation of inventory

Western outfitters mountain sports projected 2008 sales of

On january 1 2008 parent company acquired 90 percent

In 2005 wessex inc had 50 employees each employee earned 10

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT