14 accounting questions

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14 Questions. Answers must be Minimum 60 words. No
Q 1. What is the purpose of a free cash flow analysis?
Q 2. What is the summary of significant Accounting Policies? Give examples.
Q 3. Describe the major disclosure techniques for the balance sheet.
Q 4. Describe the usefulness and format of the statement of cash flows.
Q 5. Contrast the direct and indirect methods of calculating net cash flow from operating
Q 6. Discuss special problems in preparing a statement of cash flows.
Q 7-10 Comparative Analysis Case
The Coca-Cola Company and PepsiCo, Inc.
Use the companies’ financial information to answer the following questions.
Q 7. What format(s) did these companies use to present their balance sheets?
Q 8. How much working capital did each of these companies have at the end of 2014?
Speculate as to their rationale for the amount of working capital they maintain.
Q 9. What are the companies’ annual and 5-year (2010–2014) growth rates in total assets and
long-term debt 2012?
Q 10. Compute both companies’ (1) current cash debt coverage, (2) cash debt coverage, and (3)
free cash flow. What do these ratios indicate about the financial condition of the two
Financial Reporting Problem
The Procter & Gamble Company (P&G)
Q11 – 13 Refer to P&G’s financial statements and the accompanying notes to answer the
following questions.
Q11 What specific items does P&G discuss in its Note 1—Summary of Significant Accounting
Policies? (List the headings only.)
Q12 For what segments did P&G report segmented information? Which segment is the largest?
Who is P&G’s largest customer?
Q13 What interim information was reported by P&G?
Q 14 ETHICS (Reporting of Subsequent Events) In June 2017, the board of
directors for McElroy Enterprises Inc. authorized the sale of $10,000,000 of corporate
bonds. Jennifer Grayson, treasurer for McElroy Enterprises Inc., is concerned about the
date when the bonds are issued. The company really needs the cash, but she is worried
that if the bonds are issued before the company’s year-end (December 31, 2017) the
additional liability will have an adverse effect on a number of important ratios. In July,
she explains to company president William McElroy that if they delay issuing the bonds
until after December 31 the bonds will not affect the ratios until December 31, 2018.
They will have to report the issuance as a subsequent event which requires only footnote
disclosure. Grayson expects that with expected improved financial performance in 2018,
ratios should be better.
(a) What are the ethical issues involved?
(b) Should McElroy agree to the delay?

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