1. Evaluate a scenario regarding interim reporting (ASC13-1). Include the following details in your response:
   1. Determine if the codification allows for exceptions at interim reporting dates.
   2. Determine what effect differences in interim reporting have on evaluation methods employed by analysts and other users.
2. Explain whether it is appropriate to prorate an extraordinary loss in the second quarter over the three remaining quarters of the fiscal year (ASC13-3).
3. Determine if interim periods are considered standalone financial statements or an integral part of the annual financial statements under current Generally Accepted Accounting Principles (GAAP) (ASC13-5).
4. Explain if you agree or disagree with how interim periods are handled by GAAP (ASC13-5).
5. Explain whether additional disclosure requirements are necessary when a company presents only the annual income statement as opposed to a separate fourthquarter interim report (ASC13-6).