Refer to Polaris’ statement of changes in shareholders’ equity in Appendix A. What is the amount of foreign currency translation adjustment for the year ended December 31, 2011? Is this adjustment an unrealized gain or an unrealized loss?
Answer to relevant QuestionsAccess the SEC EDGAR database (www.sec.gov) and retrieve Polaris 2011 10-K (filed February 27, 2012). Identify its auditor. What responsibility does its independent auditor claim regarding Polaris’ financial statements?Refer to Arctic Cat’s statement of stockholders’ equity. What was the amount of its fiscal 2011 un-realized gain or loss on derivative instruments?Refer to KTM’s financial statements in Appendix A. Compute its cost of goods available for sale for the year ended December 31, 2011.Can management of a company such as Polaris use cycle time and cycle efficiency as useful measures of performance? Explain.KTM has both fixed and variable costs. Why are fixed costs depicted as a horizontal line on a CVP chart?
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