Questions from Financial Reporting

Q: What are the two causes of an increasing or decreasing sales number

What are the two causes of an increasing or decreasing sales number?

Q: What organization has legal authority to set accounting policies in the United

What organization has legal authority to set accounting policies in the United States? Does this organization write most of the accounting rules in the United States? Explain.

Q: How is a common-size income statement created?

How is a common-size income statement created?

Q: What is an example of an industry that would need to spend

What is an example of an industry that would need to spend a minimum amount on advertising to be competitive? On research and development?

Q: Which inventory valuation method, FIFO or LIFO, will generally produce

Which inventory valuation method, FIFO or LIFO, will generally produce an ending inventory value on the balance sheet that is closest to current cost?

Q: Indicate whether each of the following events would cause an inflow or

Indicate whether each of the following events would cause an inflow or an outflow of cash and whether it would affect the investing (I) or financing (F) activities on the statement of cash flows. (a)...

Q: Explain what can be found on a statement of stockholders’ equity.

Explain what can be found on a statement of stockholders’ equity.

Q: What are the intangible factors that are important in evaluating a company’s

What are the intangible factors that are important in evaluating a company’s financial position and performance but are not available in the annual report?

Q: How is it possible for a company with positive retained earnings to

How is it possible for a company with positive retained earnings to be unable to pay a cash dividend?

Q: Research the joint FaSB/IaSB Financial Statement presentation project. Write

Research the joint FaSB/IaSB Financial Statement presentation project. Write a short essay outlining the current status of the project and the expected changes to the financial statements.