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Altria Group, Inc., has approximately 18 pages dedicated to describing contingent liabilities in the notes to recent financial statements. These pages include extensive descriptions of multiple contingent liabilities. Use the Internet to research Altria Group, Inc., at https://www.altria.com. Then click on the Investor's tab. From the drop down, select Annual Reports. Click on the the most recent Interactive Annual Report and go to the table of contents. You will look at the financial information and look for the notes on contingencies or contingent liabilities. This should be located on page 50, which can be accessed by typing the page number in the top of the annual report website page. For your initial posting, discuss what are the major business units of Altria Group?
Based on your understanding of this company, why would Altria Group require this many pages of contingency disclosure?
What are the nature of the contingency disclosure for this company? (Note you don't have to list each lawsuit, but what types of contingent liabilities does Altria have?) How would this impact your investment decision?
a decrease in the prepaid expenses account of 1000 over the course of a year would be shown on the companys statement
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