Homework – EARNINGS MANAGEMENT – due Monday, 4/8/13 (read & bring Sec. 6) (answers are in Section 6 material) 1. What does the term Managing Earnings refer to? • The use of accounting methods to produce financial information that present an overly positive image of the company’s financial performance 2. What is SAB 99 and 108 about? SAB 99 – is about materiality SAB 108—is about quantifying financial statement misstatements What is the FASB codification reference for SAB 99? 250-10-S99-1 3 What were some of the things Sunbeam did wrong? Improper restructuring reserves and other “cookie-jar” reserves • Improper “bill and hold” sales • Deleted corporate records to conceal pending returns of merchandize • Misrepresented company’s performance and future prospects in press releases and meetings 4. What would make an accounting standard high quality? • Relevant and reliable are the two characteristics that make an accounting standard high quality 5. Who has to provide a statement under oath about exchange act filings? • Chief Executive Officer • Chief Financial Officer 6.
SEC FR 65 discusses “non-GAAP financial reporting measures. ” What does the SEC mean by this term? • A numerical value of a company’s financial performance that i) excludes amounts that are included in the comparable measure calculated using GAAP or ii) includes amounts that are excluded in the comparable measure calculated using GAAP. 7. In September 2010, the FASB issued Con. #8 of the conceptual framework on Objectives and Qualitative Characteristics. What is the objective of financial reporting and what makes financial information useful? There are three main objectives of financial reporting o It should provide information that is useful to present and future users in making rational decisions o It should provide information that helps users assess the amounts, timing, and uncertainty of prospective net cash flows o It should provide information about economic resources of an entity and claims to those resources • Relevance and reliability are the two characteristics that make a financial information useful Name Belene ShiferawDate: April 8, 2013NO. 35
Why Work with Us
Top Quality and Well-Researched Papers
We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.
Professional and Experienced Academic Writers
We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.
Free Unlimited Revisions
If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.
Prompt Delivery and 100% Money-Back-Guarantee
All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.
Original & Confidential
We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.
24/7 Customer Support
Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
Admission Essays & Business Writing Help
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.