The financial statements of Coca-Cola and PepsiCo are presented in Appendices C and D, respectively. The companies

Question:

The financial statements of Coca-Cola and PepsiCo are presented in Appendices C and D, respectively. The companies’ complete annual reports, including the notes to the financial statements, are available online.

Instructions

Use the companies’ financial information to answer the following questions.

a. Identify the changes in accounting principles reported by Coca-Cola during the 3 years covered by its income statements (2015–2017). Describe the nature of the change and the year of change.

b. Identify the changes in accounting principles reported by PepsiCo during the 3 years covered by its income statements (2015–2017). Describe the nature of the change and the year of change.

c. What types of estimates did PepsiCo discuss in 2017?

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...

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