A) Prepare easy fictitious financial statements
B) Write notes for the fictitious annual report.
Note 1: important Accounting Polices
Notes 2-10+: Consisting of at least the items below.
Inventory
Property, Plant, & Equipment
Contingencies and Liabilities
Changes in Accounting Principles or Estimates
Post Balance Sheet Events
Mergers and Acquisitions
Lease Obligations
EPS
Long-Term Debt
Employee Pension Obligations
The notes will then include detailed information about at least 10 different items that are regularly contained in the notes to the financial statements.
The student will gain experience in writing business topics and require to have detailed information provided in the notes to financial statements.
Evaluate the detail information that should be included in Notes 2-10+. It is important to understand the difference between information furnished in Note 1 and a separate note detailing information for the subject of the individual notes.