Solution 24

Solution 24 - CHAPTER 24 Full Disclosure in Financial...

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Unformatted text preview: CHAPTER 24 Full Disclosure in Financial Reporting ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Problems Concepts for Analysis * 1. The disclosure principle; type of disclosure. 2, 3, 23 1, 2, 3 * 2. Role of notes that accompany financial statements. 1, 4, 5 1, 2 1, 2, 3, 4 * 3. Subsequent events. 6 3 1, 2 1 4, 12 * 4. Segment reporting; diversified firms. 7, 8, 9, 10, 11 4, 5, 6,7 3 2 5, 6, 7 * 5. Discussion and analysis. 12, 13 * 6. Interim reporting. 16, 17, 18, 19 8, 9 * 7. Audit opinions and fraudulent re- porting. 20, 21 11 * 8. Earnings forecasts. 14, 15 10 *9. Interpretation of ratios. 22, 23, 24, 28 4, 5, 6 5 11 *10. Impact of transactions on ratios. 8 4, 5, 6 3 13 *11. Liquidity ratios. 8 4, 5, 6 3, 5 *12. Profitability ratios. 4, 5, 6 3, 5 *13. Coverage ratios. 4, 5, 6 *14. Activity ratios. 25, 26 8, 9 4, 5, 6 3 *15. Comprehensive ratio problems. 4, 5, 6 3, 5 *16. Percentage analysis. 24, 27 3, 4 *17. International Accounting. 29, 30, 31 *This material is dealt with in an Appendix to the chapter. 24-1 ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE) Learning Objectives Brief Exercises Exercises Problems 1. Review the full disclosure principle and describe implementation problems. 2. Explain the use of notes in financial statement preparation. 1, 2, 3 1, 2 1 3. Discuss the disclosure requirements for major business segments. 4, 5, 6, 7 3 2 4. Describe the accounting problems associated with interim reporting. 5. Identify the major disclosures in the auditors report. 6. Understand managements responsibilities for financials. 7. Identify issues related to financial forecasts and projections. 8. Describe the professions response to fraudulent financial reporting. *9. Understand the approach to financial statement analysis. *10. Identify major analytic ratios and describe their calculation. 8, 9 4, 5, 6 3, 5, 6 *11. Explain the limitations of ratio analysis. *12. Describe techniques of comparative analysis. 3 *13. Describe techniques of percentage analysis. 4 24-2 ASSIGNMENT CHARACTERISTICS TABLE Item Description Level of Difficulty Time (minutes) E24-1 Post-balance-sheet events. Moderate 1015 E24-2 Post-balance-sheet events. Moderate 1520 E24-3 Segmented reporting. Moderate 510 *E24-4 Ratio computation and analysis; liquidity. Simple 2030 *E24-5 Analysis of given ratios. Moderate 2030 *E24-6 Ratio analysis. Moderate 3040 P24-1 Subsequent events. Difficult 4050 P24-2 Segmented reporting. Moderate 2430 *P24-3 Ratio computations and additional analysis. Moderate 3545 *P24-4 Horizontal and vertical analysis. Simple 4060 *P24-5 Dividend policy analysis. Difficult 4050 CA24-1 General disclosures, inventories, property, plant, and equipment....
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This note was uploaded on 08/02/2009 for the course ACCT 370A taught by Professor Lu during the Fall '07 term at USC.

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Solution 24 - CHAPTER 24 Full Disclosure in Financial...

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