ACC 305 WEEK 9 ASSIGNMENT 1
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ACC 305 WEEK 9 ASSIGNMENT 1
Full Disclosure in Financial Reporting:
Verizon Communications
Due Week 9 and worth 200 points
According to the textbook, the goal of
financial reporting is to report financial information that is transparent and
complete and truthfully report the financial performance of a company.
Investors and other interested parties need to read and understand all aspects
of financing reporting.
Use the Internet to research Verizon
Communications’ financial statements, annual report, notes to the financial
statements, president’s letter, and management discussion and analysis from the
most recent year in order to complete this assignment.
Write a five to six (5-6) page paper in which
you:
- 1. Discuss the disclosure
requirement on accounting policies, and identify at least two (2) examples
of the most commonly required disclosure. Explain the key ways in which
the examples you provided are useful to financial statement users. Analyze
Verizon Communications’ disclosure on accounting policies, and give your
opinion on whether or not the information is helpful for decision making.
Provide a rationale for your response.
- 2. Explain the importance
of the management discussion and analysis section of an annual
report. Select three (3) items from Verizon’s management and
discussion analysis of the annual report that could be useful to potential
investors. Provide three (3) specific examples of how the three (3) items
you selected could influence a potential investor’s decision to invest in
Verizon.
- 3. Describe segmented
information, and explain the way in which companies determine segments.
Identify at least three (3) advantages and three (3) disadvantages of
segmented financial data. Give your opinion on whether or not the
advantages outweigh the disadvantages. Outline the manner in which Verizon
segments its financial data. Suggest key actions that Verizon’s management
can take in order to improve the company’s segmented financial data.
Provide a rationale for your response.
- 4. Analyze the various
types of auditor’s reports, and determine the impact that the auditor’s
report has on a company’s ability to obtain financing from a bank.
Identify the type of auditor’s report issued on Verizon, and speculate the
manner in which you believe banks will perceive Verizon’s auditor’s
report.
- 5. Use at least two (2)
quality academic resources in this assignment. Note: Wikipedia
and other Websites do not qualify as academic resources.
Your assignment must follow these formatting
requirements:
- Be typed, double spaced, using Times New Roman font
(size 12), with one-inch margins on all sides; citations and references
must follow APA or school-specific format. Check with your professor for
any additional instructions.
- Include a cover page containing the title of the
assignment, the student’s name, the professor’s name, the course title,
and the date. The cover page and the reference page are not included in
the required assignment page length.
The specific course learning outcomes
associated with this assignment are:
- Analyze and explain the requirements for full
disclosure in financial reporting.
- Evaluate the importance and impact of full disclosure
or non-disclosure in accounting practices.
- Use technology and information resources to research
issues in intermediate accounting.
Write clearly and concisely about intermediate
accounting using proper writing mechanics.
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