Questions from Advanced Accounting

Q: Why do financial statement users (financial analysts, for example)

Why do financial statement users (financial analysts, for example) need information about segments of a firm?

Q: Define the following: (a). Operating segment.

Define the following: (a). Operating segment. (b). Reportable segment.

Q: Describe the guidelines to be used in determining (a) what

Describe the guidelines to be used in determining (a) what constitutes an operating segment, and (b) whether a specific operating segment is a significant segment.

Q: List the three major types of enterprise wide information disclosures required by

List the three major types of enterprise wide information disclosures required by SFAS No. 131 [ASC 280], and explain how the firm’s designation of reportable segments affects these disclosures.

Q: Suppose a not-for-profit entity purchases short-term

Suppose a not-for-profit entity purchases short-term highly liquid investments using resources that have donor-imposed restrictions that restrict their use to long-term investment purposes. In prepari...

Q: What segmental disclosures are required, if any, for interim reports

What segmental disclosures are required, if any, for interim reports?

Q: List the types of information that must be presented for each reportable

List the types of information that must be presented for each reportable segment of a company under the rules of SFAS No. 131 [ASC 280].

Q: Listed are transactions of the Town of Jackson. 1.

Listed are transactions of the Town of Jackson. 1. A budget consisting of estimated revenues of $1,950,000 and appropriations for expenditures of $1,800,000 was passed by the town council. 2. Property...

Q: Describe the methods that might be used to disclose reportable segment information

Describe the methods that might be used to disclose reportable segment information.

Q: Under what two conditions will the bonus and goodwill methods of recording

Under what two conditions will the bonus and goodwill methods of recording the admission of a partner yield the same result?