Select a publicly-listed firm of personal interest to you.
Locate in their latest annual report (within the last year, please) on Form 10K the segment footnote for the company you have chosen. Please do not obtain this information from an interim report-use the most recent annual report on Form 10K.
Copy and paste the segment footnote information for your chosen company into your initial posting so everyone in the class can see this footnote when they review your initial posting.
Attach a copy (PDF or Word) of the annual report on Form 10K to your initial response.
Answer the following questions about the segment footnote and segment information presented and provided by your company Note: You may have to look into other sections of the annual report on Form 10K to answer some of the questions below.
- Has your chosen company complied with the specific disclosures required for each reportable segment detailed in ASC280? Check your course textbook for the 5 quantitative and descriptive informational disclosures which must be disclosed for each segment determined to be separately reportable for your chosen company, list them, and indicate how and where your chosen company complied with these disclosures or not in the annual report.
- Has your chosen company provided disclosures about geographic areas where it operates under ASC280-10-50-41? If so, summarize the key geographic areas where the company obtains its latest annual revenues from, and what that information might mean to a potential investor in the company.
- Has your chosen company provided any disclosures about disclosures required under ASC280-10-50-42 regarding major customers? If so, what information was disclosed, who was/were the customers, and what was/were their percentage of your chosen company’s total revenues in the latest financial year?
- In general, summarize what you learned for your chosen company in researching, studying, and analyzing their disclosures in the latest annual report regarding segment disclosures. Why was the information content of those segment disclosures important for your chosen company? Did the information content of those disclosures change your view or surprise you about your chosen company? If so, why.