1. assignment 1: full disclosure in financial reporting – verizon

  

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.

Click here to view the grading rubric. 

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