Income Statement and Related Information

As we learned in this chapter certain professional pronouncements require that some irregular items be highlighted in the financial statements. These items include Discontinued Operations, Extraordinary Items, Unusual Gains and Losses, Changed in Estimates, and Corrections of Errors. Search the internet for the financial statements of a company that has one of these item.

Enter the name of the company in the subject box of your post. Do not use a company that has already been discussed. Give us the details about the item you found and the transaction(s) that created it. Also provide the URL for the financial statements.

For example I found the financial statements for Harley-Davidson. Harley owned an Italian motorcycle company named MV Agusta. They decided to discontinue the operation of this company and sell it. In 2010 they reported a $113.1 million loss from discontinued operations primarily due to impairment charges related to a decrease in the fair value of MV Agusta. In 2011, the Company recognized a $51.0 million benefit on income from discontinued operations, driven by the reversal of tax amounts reserved in prior years related to the divestiture of the Company’s MV Agusta subsidiaries. The amounts had been reserved pending an agreement that was reached by the Company and the IRS on the tax treatment of the transaction in December 2011.

EssayPro

We are a team of professional essay writers with over 20 years of experience in essay writing industry. Our experts deliver cheap and reliable essay writing service to college students on time.

Recent Posts

Europe’s Population Implosion Breeds Financial Hardship

FIELD NOTES FROM SWEDEN, Part I: Unemployment, Alcoholism, and the Swedish Black Market Imagine retiring at a young age as…

9 hours ago

Endocrine System Anatomy

This sheet is designed to help you learn about the Anatomy Endocrine System. Several endocrine organs have been labeled A-…

14 hours ago

Applied Probability and Statistics in Data Analytics

Applied Probability and Statistics in Data Analytics class DISCUSSION QUESTION #1: A number of organizations are considered data privacy “champions”.…

3 days ago

Federalists vs. Anti-federalists

Essay Instructions You will write a 800-1000 word historical essay covering the subject of your choice. This will be a…

5 days ago

Cultural plunge

For this assignment, you will engage in a "cultural plunge." This is an opportunity to gain awareness and exposure to…

5 days ago

Cost of Capital at Ameritrade

Can you use Ameritrade's information to estimate the WACC? Why or why not? How you found the comparable firm? Be…

5 days ago