Access the latest annual report, or Form 10-K, of a publicly-traded company of your choice using the

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Access the latest annual report, or Form 10-K, of a publicly-traded company of your choice using the company's website or www.sec.gov. You can usually access from a company's website by clicking on investor relations, then annual reports, and search for latest form 10K. From the SEC website (www.sec.gov), search for the selected company's name and then search for its latest form 10-K. Using form 10-K of your selected company; answer the following questions in an essay format.
1) Identify three accounts on your selected company's and balance sheet that provide evidence that the company utilizes accrual accounting. Ensure you provide explanations as well as the income statement account that would be affected by the adjustment process.
2) Identify and explain three income statement accounts that may result in accrual and deferrals adjusting entries.
3) Explain depreciation expense, amortization expense, accumulated depreciation, and accumulated amortization? In the financial statements and notes of your selected company, identify the four accounts. How much was each of these four accounts for the most recent year and on which financial statements were each reported?
4) What are income taxes and income tax expense (or provision for income taxes)? In the financial statements and notes of your selected company, identify cash paid for income taxes as well as income tax expense (or provision for income taxes). How much was each of these accounts for the most recent year and on which financial statements was each reported?
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Financial ACCT2

ISBN: 978-1111530761

2nd edition

Authors: Norman H. Godwin, C. Wayne Alderman

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