{"id":52927,"date":"2018-02-20T23:50:30","date_gmt":"2018-02-20T23:50:30","guid":{"rendered":"https:\/\/writemyessayfree.com\/advanced-accounting-2"},"modified":"2017-08-16T12:53:21","modified_gmt":"2017-08-16T12:53:21","slug":"advanced-accounting-2","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/advanced-accounting-2\/","title":{"rendered":"Advanced Accounting"},"content":{"rendered":"<p><b>Key Assignment<\/b>&nbsp;<b>Draft<\/b><\/p>\n<p><b>IMPORTANT NOTE:&nbsp;You may have to research more than 1 company to complete the Key Assignment.&nbsp;Plan accordingly.<\/b><\/p>\n<p>The purpose of this Key Assignment is to get familiar with annual reports and to understand the financial implications of the following:<\/p>\n<ul>\n<li>Equity method of accounting versus consolidation<\/li>\n<li>Reporting of investments&nbsp;based on cost\/equity<\/li>\n<li>Goodwill reporting<\/li>\n<li>Intercompany and intracompany transactions<\/li>\n<\/ul>\n<p>Access the company&#8217;s Web page on the Internet to read its most recent annual report. The annual report is typically found in an &#8220;Investor Relations&#8221; or &#8220;Company Information&#8221; section within the company&#8217;s Web site. If the company does not provide a full annual report, select another company for your project. Verify that the full annual report includes the following:<\/p>\n<ul>\n<li>A letter or report to shareholders from the president of the company<\/li>\n<li>A section providing management&#8217;s discussion and analysis of the business<\/li>\n<li>A report from the auditor<\/li>\n<li>The company&#8217;s financial statements<\/li>\n<li>Supplemental notes to the financial statements<\/li>\n<\/ul>\n<p>Once you have found a full annual report, complete each part of the assignment.&nbsp;<\/p>\n<p>Please cover all of&nbsp;the items listed in the questions below. You can select more than 1 company if your chosen company does not have all the items listed below.<\/p>\n<p>Using the financial statements of your company (or companies), write a 1,000\u20131,500 word paper that addresses the following questions:&nbsp;<\/p>\n<ul>\n<li>What GAAP principles govern the consolidation of financial statements?&nbsp;\n<ul>\n<li>How&nbsp;are consolidated and equity methods of accounting different?<\/li>\n<\/ul>\n<\/li>\n<li>What investments has the company made in affiliated companies? Examine its footnotes.&nbsp;\n<ul>\n<li>Comment on the accounting for investments in affiliated companies after looking at the footnotes.&nbsp;<\/li>\n<li>List the investments it has.&nbsp;<\/li>\n<li>Does it use cost basis or equity method of accounting, or both?<\/li>\n<li>When do you use the equity method of accounting?<\/li>\n<\/ul>\n<\/li>\n<li>Goodwillis the difference between the acquired assets and acquired liabilities.&nbsp;\n<ul>\n<li>(Find a company that has goodwill). Examine the balance sheet and the footnotes. What is the goodwill related to?<\/li>\n<li>What FASB covers the reporting and accounting of goodwill?<\/li>\n<li>What is the difference between old goodwill reporting and new goodwill reporting?&nbsp;<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key Assignment&nbsp;Draft IMPORTANT NOTE:&nbsp;You may have to research more than 1 company to complete the Key Assignment.&nbsp;Plan accordingly. The purpose of this Key Assignment is to get familiar with annual reports and to understand the financial implications of the following: <a href=\"https:\/\/www.benedictsol.com\/blogs\/advanced-accounting-2\/\" class=\"read-more\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-52927","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/52927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=52927"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/52927\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=52927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=52927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=52927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}