Verizon Communications.edited.docx - Running head VERIZON COMMUNICATIONS Verizon Communications Name Institution 1 VERIZON COMMUNICATIONS 2 Verizon

Verizon Communications.edited.docx - Running head VERIZON...

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Running head: VERIZON COMMUNICATIONS 1 Verizon Communications Name Institution
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VERIZON COMMUNICATIONS 2 Verizon Communications Inc. Verizon Communications Inc. is a telecommunications corporation that provides communication, and entertainment services to customers such as government agencies, businesses and members of different households, through wireless and wireline segments in the United States. Currently, Verizon Wireless is dominating among cell phone service providers in the United States. It has more than 140vmillion subscribers, and it is famous for quality services as well as comprehensive coverage within the most reliable LTE Network (Verizon Communications Inc. 2019). Disclosure requirement on accounting policies When talking of accounting disclosure, it implies the requirements needed in recognizing the financial policies of a company. Such policies are the accounting strategies that the company incorporates in reporting its financial information ( Leuz & Wysocki, 2016). It indicates the expenses and profits over time. Disclosure of accounting policies and statements is useful for both existing and potential investors. Fundamentally, disclosure of accounting policies discloses any affair or situations that influence financial statements of the company (Leuz & Wysocki, 2016). Companies incorporate in their legal system systems which require every company to disclose its accounting policies. As a result, various countries have established laws and regulations on when and how accounting disclosures should be made (Leuz & Wysocki, 2016). The disclosures are presented in annual reports and other forms such as company publications. Currently, the law requires companies to disclose their accounting policies to shareholders and investors as well other the parties interested in the company to avoid misrepresentation and
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VERIZON COMMUNICATIONS 3 fraudulent investments ( Leuz & Wysocki, 2016). This helps investors to make right and informed investment decisions. Verizon Communications, as a public corporation, is required to make disclosures in different areas of its financial reports. Two of the areas of disclosures include disclosure of Consolidation of financial reports and records, and Revenues recognition. The method of consolidating financial statements entails assessment of all significant terms of investment which proposes proof of control over the management of the branch or subsidiary explicitly (Verizon Communications Inc. 2019). On the other hand, the businesses over which Verizon
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