Part I Annual reports include not only comparative financial statements but also other sources of information,...
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Part I Annual reports include not only comparative financial statements but also other sources of information, such as: • A multiyear summary of financial highlights, a summary of key statistics for the past 5 or 10 years. • Several pages of Notes that accompany the financial statements. Reports by management and by the independent auditors in which they express their respective responsibilities for the financial statements. C. . Instructions Answer each of the following questions and briefly explain where in the statements, notes, other sections of the annual report you located the information used in your answer. a. How many years are covered in each of the primary comparative financial statements? Were all of these statements audited? Name the auditors. What were the auditors' conclu- sions concerning these statements? b. Home Depot, Inc., combines its statement of retained earnings with another financial statement. Where are details about changes in the amount of retained earnings found? Over the three years presented, have the company's annual net cash flows been positive or negative from (1) operating activities, (2) investing activities, and (3) financing activities? Has the company's cash balance increased or decreased during each of these three years? Part I Annual reports include not only comparative financial statements but also other sources of information, such as: • A multiyear summary of financial highlights, a summary of key statistics for the past 5 or 10 years. • Several pages of Notes that accompany the financial statements. Reports by management and by the independent auditors in which they express their respective responsibilities for the financial statements. C. . Instructions Answer each of the following questions and briefly explain where in the statements, notes, other sections of the annual report you located the information used in your answer. a. How many years are covered in each of the primary comparative financial statements? Were all of these statements audited? Name the auditors. What were the auditors' conclu- sions concerning these statements? b. Home Depot, Inc., combines its statement of retained earnings with another financial statement. Where are details about changes in the amount of retained earnings found? Over the three years presented, have the company's annual net cash flows been positive or negative from (1) operating activities, (2) investing activities, and (3) financing activities? Has the company's cash balance increased or decreased during each of these three years?
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Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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