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Assignment 5 - Assignment 5 G Francis T Universiteit van...

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Assignment 5 G Francis T Universiteit van Amsterdam Business School Intermediate Financial Accounting 7139 Topic Case study Assignment 5 Due date: Friday 12th March 2010 Hand-in via the Digital Dropbox (Blackboard, Tools) Maximum of 4 students in a group Make sure that all assignments include names, student numbers and date of lecture The bonus of five points is earned when five of six assignments received a ‘pass’ grade To get a pass you need to answer all questions Copy-paste answers will not be allowed, nor graded The bonus is not valid for retake exams Blackboard Case: Harnischfeger Corporation 1984 Annual Report (abridged) Answer the following questions. 1. Describe clearly all of the accounting changes Harnischfeger made in 1984 2. What is the effect of the depreciation accounting method change on the reported income 1984? How will this change affect profits in future years? 3. What is the effect of the change in depreciation lives? How will this change affect future reported profits?
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4. The depreciation accounting changes assume that Harnischfeger’s plant and machinery will last
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