Find various accounting policy disclosures Refer to the financial statement footnotes or financial review section of the annual report you have obtained either as a result of completing Exercise 1.1 or otherwise. Read the “significant accounting policy” footnote disclosures and other disclosures as necessary to answer the following questions:
Required:
a.Do the financial statements report information about consolidated subsidiaries? Does the firm have any nonconsolidated subsidiaries?
b. What are the principal components included in the firm’s cash (or cash and equivalents, or cash and short-term investments)?
c. What depreciation method(s) is (are) being used for financial reporting purposes? How much total depreciation and amortization expense did the firm report?
d. Does the firm have any stock options outstanding? If so, how many option shares are exercisable at the end of the year?
e. Does the firm have any significant contingencies or commitments that have not been reported as liabilities on the balance sheet? If so, describe the potential effects of these items from the perspective of a common stockholder.
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