ACC-370 Module 3 DQ 1- FORD
Intermediate Accounting 1- Financial Statement Overview
Select a publicly traded company and access its most recent financial statements from its annual report. Include the name of the company in your subject line, and do not choose a company about which one of your classmates has already posted. Examine the balance sheet and income statement for that company, and identify the items that deviate from the typical formats of the classified balance sheet and multi-step income statement that we have examined in class. Find justification in the FASB Codification that supports or contradicts the financial statement presentation, and cite the Codification section so that your classmates can find this information. If there are any items that you see on the financial statements that you do not understand, identify those for your classmates and instructor to provide guidance on. Participate in follow-up discussion by asking questions about the financial statements that your classmates posted on, or responding to questions that they pose. Your initial post should be 250-500, and should demonstrate solid academic writing skills.
Excerpt from file: AfterreviewingthefinancialstatementforFordMotorCo.asusual,automotiveaccountingis trickybecausetheyreallybasethenumbersoffof(GMP)grossmarginpercentages,whichI couldntfindintheFASBCodificationsystem.Basicallytheytaketheunitsanddivideitinto
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