The following information was taken from the 2012 annual report of Emerson, a leader in process management,

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The following information was taken from the 2012 annual report of Emerson, a leader in process management, technology, network power, and industrial automation (dollars in millions):

REQUIRED:
Comment on whether Emersonâ€™s financial accounting methods have been conservative or aggressive across the three-yearperiod.

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Financial Accounting in an Economic Context

ISBN: 978-1118582558

9th edition

Authors: Jamie Pratt

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Question Posted: Aug 19, 2014 03:39 AM

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The following information was taken from the 2012 annual report of Emerson, a leader in process management,

Question:

2012 2011 2010 Net income before taxes $3,115 $3,631 $2,879 Income tax expense: Current Deferred Total 1,277 1,017 942 186) 110 (94) $1,091 $1,127 $ 848 0.350 0.310 0.294 Effective tax rate

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The conservatism ratio is an excellent measure of a companys aggressiveness in its tax st...View the full answer

Financial Accounting in an Economic Context

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