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CH25 - CHAPTER 25 Full Disclosure in Financial Reporting...

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CHAPTER 25 Full Disclosure in Financial Reporting ASSIGNMENT CLASSIFICATION TABLE Topics Questions Brief Exercises Exercises Problems Cases * 1. The disclosure principle; type of disclosure. 2, 3, 4, 24 1, 2, 3, 4 * 2. Role of notes that accompany financial statements. 1, 5, 6 1, 2 1, 2, 3, 4, 5 * 3. Subsequent events. 7 1, 2 1 5 * 4. Segment reporting; diversified firms. 8, 9, 10, 11, 12 3, 4, 5, 6 3 2 6, 7, 8 * 5. Discussion and analysis. 13, 14 * 6. Interim reporting. 17, 18, 19, 20 9, 10 * 7. Audit opinions and fraudulent reporting. 21, 22 * 8. Earnings forecasts. 15, 16 11 *9. Interpretation of ratios. 23, 24, 25, 29 4, 5, 6 1 12 *10. Impact of transactions on ratios. 9 4, 5, 6 1 13 *11. Liquidity ratios. 9 4, 5, 6 1 *12. Profitability ratios. 4, 5, 6 1 *13. Coverage ratios. 4, 5, 6 1 *14. Activity ratios. 26, 27 9, 10, 11 4, 5, 6 1 *15. Comprehensive ratio problems. 4, 5, 6 3, 5 25-1
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ASSIGNMENT CLASSIFICATION TABLE (Continued) Topics Questions Brief Exercises Exercises Problems Cases *16. Percentage analysis. 25, 28 3, 4 *This material is dealt with in an Appendix to the chapter. 25-2
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ASSIGNMENT CHARACTERISTICS TABLE Item Description Level of Difficulty Time (minutes) E25-1 Subsequent events. Moderate 10-15 E25-2 Subsequent events. Moderate 15-20 E25-3 Segmented reporting. Moderate 5-10 *E25-4 Ratio computation and analysis; liquidity. Simple 20-30 *E25-5 Analysis of given ratios. Moderate 20-30 *E25-6 Ratio analysis. Moderate 30-40 P25-1 Subsequent events. Difficult 40-50 P25-2 Segmented reporting. Moderate 25-30 *P25-3 Ratio computations and additional analysis. Moderate 35-45 *P25-4 Horizontal and vertical analysis. Simple 40-60 *P25-5 Dividend policy analysis. Difficult 40-50 C25-1 General disclosures, inventories, property, plant, and equipment. Simple 10-20 C25-2 Disclosures required in various situations. Moderate 20-25 C25-3 Disclosures required in various situations. Moderate 20-25 C25-4 Disclosures, conditional and contingent liabilities. Simple 25-30 C25-5 Subsequent events. Moderate 20-25 C25-6 Segment reporting. Moderate 30-35 C25-7 Segment reporting—theory. Simple 20-25 C25-8 Segment reporting—theory. Moderate 25-30 C25-9 Interim reporting. Simple 20-25 C25-10 Treatment of various interim reporting situations. Moderate 30-35 C25-11 Financial forecasts. Moderate 25-30 *C25-12 Ratio analysis and limitations. Moderate 40-50 *C25-13 Effect of transactions on financial statements and ratios. Moderate 25-35 25-3
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ANSWERS TO QUESTIONS 1. As indicated in the text, the major advantages are: (1) additional information pertinent to specific financial statements can be explained in qualitative terms, or supplementary data of a quantitat- ive nature can be provided to expand on the information in the financial statements, and (2) re- strictions on basic contractual agreements can be explained. The types of items normally found in footnotes are: (1) disclosure of accounting methods used, (2) disclosure of contingent assets and liabilities, (3) examination of creditor claims, (4) claims of equity holders, and (5) executory commitments.
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