FIN 671 FIN671 Week 5 Assignment Financial Reporting Quality (Ashford)
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Ashford FIN 671 Week 5 Assignment Financial Reporting Quality
Financial Reporting Quality [WLOs: 2, 3] [CLOs: 1, 3]. Due by Day 7. Prior to beginning work on this assignment, carefully review Chapter 11 in the text and review the financials of the organization you chose in Week1throughYahoo!FinanceandtheSECEDGARdatabaseintheFilings &Formspage.Youcanaccessthe financials by going to the Yahoo! Finance website, typing in the stock symbol of your organization, and then clicking on the Financials tab. After you have read the chapter, you will critically analyze the quality of the financial reporting your company provides. In other words, using the guidelines provided by Robinson, Henry, Pirie, and Broihahn (2015), you will critically review the financial statements of your company.
Review Exhibit 22: Areas Where Choices and Estimates Affect Financial Reporting. Robinson, Henry, Pirie, and Broihahn (2015) suggest that there are 11 areas on which various choices can impact financial reports:
• Revenue recognition
• Long-lived assets: Depreciation policies
• Intangibles: Capitalization policies
• Allowance for doubtful accounts/loan loss reserves
• Inventory cost methods
• Tax asset valuation accounts
• Goodwill
• Warranty reserves
• Related party transactions
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