The Procter Gamble Company (P G) The financial statements of P G are presented in Appendix 5B The companys complete annual report, including the notes to the financial statements, can be accessed at the books companion website, www wiley com college kieso Instructions Refer to P Gs financial statem...

a New Accounting Pronouncements and Policies Derivative Instruments and Hedging Activites On January 1 2009 we adopted new accounting guidance on disc ...

The Procter & Gamble Company (P&G) The financial statements of P&G are presented in Appendix 5B. The

Question:

The Procter & Gamble Company (P&G)
The of P&G are presented in Appendix 5B. The company’s complete annual report, including the notes to the can be accessed at the book’s companion website, www.wiley.com/college/kieso.

Instructions
Refer to P&G’s and the accompanying notes to answer the following questions.
(a) Were there changes in accounting principles reported by P&G during the three years covered by its income statements (2009–2011)? If so, describe the nature of the change and the year of change.
(b) What types of estimates did P&G discuss in 2011?

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...