accounting annual report

accounting annual report - Topps Company, Inc. in Appendix...

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Topps Company, Inc. in Appendix B (pg. 606) Briefly discuss: 1. What type of business is this? a. corporation 2. Name two of the company’s products. a. Ring pop and push pop 3. On what exchange is the company’s stock traded? 4. Describe two significant accounting policies. a. Principles of Consolidation – The consolidated financial statements include the accounts of the Topps Company, Inc. and its subsidiaries. All intercompany items and transactions have been eliminated in consolidation. b. Foreign Currency Translation – the financial statements of subsidiaries outside the United States, except those subsidiaries located in highly inflationary economies. Assets and liabilities of these subsidiaries are translated at the rates of exchange as of the balance sheet date. The resultant translation adjustments are included in accumulated other comprehensive income. Income and expense items are translated at the average exchange rate for the month. (pg. 622) 5. What is the name of the company’s independent auditors? Income Statement Items:
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This note was uploaded on 04/19/2008 for the course ACCT 209 taught by Professor Lusher during the Fall '07 term at Slippery Rock.

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accounting annual report - Topps Company, Inc. in Appendix...

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