An article in the financial press entitled “Important Informationin Annual Reports This Year” noted that annualreports include a management’s discussion and analysissection. What would this section contain?
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An article in the financial press entitled “Important Information
in Annual Reports This Year” noted that annual
reports include a management’s discussion and analysis
section. What would this section contain?
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- Management Discussion and Analysis is required in annual reports filed with the Securities and Exchange Commission. It includes management's analysis of current operations and its plans for the future. Typical items included in the MD&A are as follows: Management's analysis and explanations of any significant changes between the current and prior years' financial statements.Important accounting principles or policies that could affect interpretation of the financial statements, including the effect of changes in accounting principles or the adoption of new accounting principles.Management's assessment of the company's liquidity and the availability of capital to the company.Significant risk exposures that might affect the company.Any “off-balance-sheet” arrangements such as leases not included directly in the financial statements. Such arrangements are discussed in advanced accounting courses and textbooks.Using Google, enter Kroger Annual Report in the search field. Access the…The annual report is a regular activity of public firms and is sent to current owners (shareholders) and the SEC, and is also made available to prospective owners, financial analysts, and others interested in a company’s performance. Name four of the major sections contained. Please discuss the benefits and limitations of the information provided in this report.While assisting the accounting department with completing the current year's financial statements, you have been asked to review a list of contingent liabilities. How would a manager, review the list of contingent liabilities and determine their probability?
- Financial information for Lighthizer Trading Company for the fiscal year-ended September 30, 20xx, was collected. As part of a management training session, you have been asked to prepare an income statement format that will be used to distribute to management. Subtotals and totals are included in the information, but you will need to calculate the values. A. In the correct format, prepare the income statement using this information: B. Calculate the profit margin, return on investment, and residual income. Assume an investment base of $42,000 and 8% cost of capital. C. Prepare a short response to accompany the income statement that explains why uncontrollable costs are included in the income statement.i. Provide an overview report on the topic “The Impact of FinancialLeverage on Performance”. Required: The case of this report should either be focused on the financial industry or manufacturing industry. Rely on at least 5 years of their financial statements.The accounting standards require management to evaluate an entity's ability to continue as a going concern within one year after the date the financial statements are issued. Describe the two steps management is required to perform in performing this evaluation.
- Company A's balance sheet and income statement for the fiscal year ending 2021 show the following: - Net Income: $15,000,000 - Total Assets: $75,000,000 - Total Revenue: $200,000,000 - Net Revenue: $50,000,000 You are the associate auditor on this client. Your senior auditor tells you that for Company A, 1.5% is the materiality judgement. Based on the appropriate benchmark identified in Question #1, determine the planning materiality. Show your work. Your work should look like: BENCHMARK AMOUNT x MATERIALITY JUDGEMENT = PLANNING MATERIALITYThe following is a potential activity undertaken by management during the preparation of financial statements. - "Assessment of the 12 months projected information of the entity" Which assumption/consideration for a fair presentation of the financial statements matches the activity? Select the correct answer. Consistency Offsetting Going concern Accrual basis(Treatment of Various Interim Reporting Situations) The following statement is an excerpt from the FASB pronouncement related to interim reporting.Interim financial information is essential to provide investors and others with timely information as to the progress of the enterprise. The usefulness of such information rests on the relationship that it has to the annual results of operations. Accordingly, the Board has concluded that each interim period should be viewed primarily as an integral part of an annual period.In general, the results for each interim period should be based on the accounting principles and practices used by an enterprise in the preparation of its latest annual financial statements unless a change in an accounting practice or policy has been adopted in the current year. The Board has concluded, however, that certain accounting principles and practices followed for annual reporting purposes may require modification at interim reporting dates so that the reported…
- Which of the following can be used to do an industry and company analysis?a. Business publicationsb. Description of the company’s business in the annual reportc. Management’s Discussion and Analysis section of the annual reportd. All of the listed optionsIf you are the Management Accountant of a company, you would be primarily concerned with: a. Reporting of past data b. Providing useful information to external users c. Helping the management in preparing plans and forecasts for future activities of business d. The annual reporting of company’s financial performancePlease help me with this question from my testbook What is the significance of the financial statements which have been included in the annual reports of the two organizations?
