Summary Verizon communications According to the textbook the goal o
7 views 0 purchase
Course
University Of Phoenix UoP
Institution
University Of Phoenix
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 ...
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 an
Written for
University Of Phoenix
University Of Phoenix UoP
All documents for this subject (3706)
Seller
Follow
helperatsof1
Reviews received
Content preview
Verizon Communications 1
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.
, Verizon Communications 2
1. Accounting policies are important for sufficiently considerate the information offered in monetary
statements. That us and unit as necessary with GAAP must present as a vital element of the monetary statement
a declaration recognize the accounting policies implemented by the reporting unit. Accounting policies are the
particular accounting ways an association currently applies as well as believes generally suitable to present its
monetary declarations honestly. The disclosing of those policies should include significant ends as to the
significance of values concerning the appreciation of income as well as distribution of asset prices to present.
Recognizing the accounting policies responds queries like as the way of reduction applied, assessment
way of list, as well as the paying back of subtlest as secretarial standards permit dissimilar actions for the
identical deal. Some transforms in the accounting policies should also be related if the transform is substance to
the present time or is sensibly supposed to have a material result in an afterwards time. Accounting policies
implemented with an association considerably influences the appearance of its monetary arrangement, money
flows, as well as outcomes of processes. Consequently, obviously outlining secretarial policies permit
customers of these monetary statements to evaluate monetary details with other units inside the equal business.
(Financial Statement, 2014)
In checking Verizon’s 2013 yearly description, supervision expressed their reduction way regarding
plant, goods, as well as apparatus. As declared in the yearly statement, Verizon documentations plant, assets,
and tools at price, reduce applying the straight-line way in excess of the guessed helpful life of the advantage.
By disclosing the reduction way, customers of Verizon’s monetary statements are willingly talented to evaluate
exactly financial declaration outlines with one more businesses’ as variations in net profits could basically be
the exploitation of reduction ways.
Another is the, Verizon’s distinguished and modernize to secretarial standard. In exacting, the business
implemented initial part of 2014 the standard modernize that gives that a responsibility correlated to an
unrecognized tax advantage must be balance beside equal control deferred tax possessions for a net functioning
defeat take forward, a parallel tax failure, if such conclusion is necessary in the occasion the doubtful tax
arrangement is barred . While Verizon was not capable to assess the force of the latest accounting pattern
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller helperatsof1. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.49. You're not tied to anything after your purchase.
