Use the Internet toresearch Verizon Communications’ financial statements, annual report, notes tothe financial statements, president’s letter, and management discussion andanalysis from the most recent year in order to complete thisassignment.
Write a five to six(5-6) page paper in which you:
- Discuss thedisclosure requirement on accounting policies, and identify at least two (2)examples of the most commonly required disclosure. Explain the key ways in whichthe examples you provided are useful to financial statement users. AnalyzeVerizon Communications’ disclosure on accounting policies, and give your opinionon whether or not the information is helpful for decision making. Provide arationale for your response.
- Explain theimportance of the management discussion and analysis section of an annualreport. Select three (3) items from Verizon’s management and discussionanalysis of the annual report that could be useful to potential investors.Provide three (3) specific examples of how the three (3) items you selectedcould influence a potential investor’s decision to invest inVerizon.
- Describe segmentedinformation, and explain the way in which companies determine segments. Identifyat least three (3) advantages and three (3) disadvantages of segmented financialdata. Give your opinion on whether or not the advantages outweigh thedisadvantages. Outline the manner in which Verizon segments its financial data.Suggest key actions that Verizon’s management can take in order to improve thecompany’s segmented financial data. Provide a rationale for yourresponse.
- Analyze the varioustypes of auditor’s reports, and determine the impact that the auditor’s reporthas on a company’s ability to obtain financing from a bank. Identify the type ofauditor’s report issued on Verizon, and speculate the manner in which youbelieve banks will perceive Verizon’s auditor’s report.
- Use at least two (2)quality academic resources in this assignment. Note: Wikipediaand other Websites do not qualify as academic resources.
Your assignment mustfollow these formatting requirements:
- Be typed, doublespaced, using Times New Roman font (size 12), with one-inch margins on allsides; citations and references must follow APA or school-specific format. Checkwith your professor for any additional instructions.
- Include a cover pagecontaining the title of the assignment, the student’s name, the professor’sname, the course title, and the date. The cover page and the reference page arenot included in the required assignment page length.
The specific courselearning outcomes associated with this assignment are:
- Analyze and explainthe requirements for full disclosure in financial reporting.
- Evaluate theimportance and impact of full disclosure or non-disclosure in accountingpractices.
- Use technology andinformation resources to research issues in intermediate accounting.
- Write clearly andconcisely about intermediate accounting using proper writingmechanics.