The following information was taken from the 2015 annual report of Emerson, a leader in process management,

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The following information was taken from the 2015 annual report of Emerson, a leader in process management, technology, network power, and industrial automation (dollars in millions):

2014 $3,348 2013 2015 Net income before taxes Income tax expense: $4,161 $3,196 Current 1,457 (29) 1,317 1,244 (153) (14

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

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Financial Accounting in an Economic Context

ISBN: 978-1119444367

10th edition

Authors: Jamie Pratt

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Question Posted: Dec 05, 2018 08:02 AM

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The following information was taken from the 2015 annual report of Emerson, a leader in process management,

Question:

2014 $3,348 2013 2015 Net income before taxes Income tax expense: $4,161 $3,196 Current 1,457 (29) 1,317 1,244 (153) (144) Deferred Total $1,164 $1,428 $1,130 0.353 Effective tax rate 0.343 0.348

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

Financial Accounting in an Economic Context

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