Applicable Notes of Financial Statements

 
 
 

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Applicable Notes of Financial Statements

Criteria for Requirement

C. Review your company’s investments on the balance sheet. Explain the details of the investments based on the amounts and disclosures found in the financial statements.

What information does the investment section, along with applicable notes to the financial statements, provide to the user? How does each company comply with the rules as provided in the FASB Codification?

D. Review your company’s revenue recognition note in the notes to the financial statements. Explain the details of the revenue recognition policies and procedures based on the disclosures found in the financial statements. How does this information help the user of the financial statements understand when and why revenue is recognized?

How does each company comply with the rules as provided in the FASB Codification?

Project Requirements

Prepare a comparative paper using the companies your team members analyzed. Refer to CLC Project Assignment 1 if you need to review the assignment criteria and expectations. The second portion of the assignment submission should include:

  1. Body of the paper consisting of a comparative analysis of Item C or D for each company as well as an application of the FASB Codification to “prove” the items are reported properly by your project companies. The discussion for each company should be approximately 250 words. For example, if there are four students per group, the total for all four companies would be 1,000 words.
  2. Consider incorporating faculty feedback from the first assignment to improve the quality of the submission of this section.

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