Generally accepted accounting principles & annual reports

Weekly Discussion, Learning Activity and Required Resources

Part 1 and Part 2 must be at least 200 words

  

Part 1: Generally Accepted Accounting Principles (G.A.A.P)

  

Briefly discuss Generally   Accepted Accounting Principles or G.A.A.P.  What are they? What is their   purpose? Name the U.S. and international standard-setting bodies that   established these principles.  Are all companies required to follow   these principles?  Why or why not?

Your answer   should illustrate understanding of generally accepted accounting principles   and their international counterpart.

  

Part 2: Annual Reports

  

Visit the   website for Tootsie   Roll (www.tootsie.com).  Click   on “Company Information” then “Financial Information”. Open the latest annual   report and review it to find the answers to the following questions:

· What are Tootsie Roll’s corporate principles?    Do you agree with these principles, or do you feel there are additional   principles that should be included?

· What was the total amount of Tootsie Roll’s assets   for the most current year available?

· What was the total amount of Tootsie Roll’s   liabilities for the most current year available?

· What is the amount of the difference between Tootsie   Roll’s assets and liabilities? What is this difference called?

Based on your   initial findings at the Tootsie Roll website, would you consider investing in   them? Why or why not? Your answer should illustrate critical thought and   understanding of the annual report and financial statements. 

Learning Activity

Read the “Continuing Problem Cookie Creations” for Chapters 1 and 2 on the Textbook’s Companion Website, at www.wiley.com/college/kimmelhttp://bcs.wiley.com/he-bcs/Books?action=index&bcsId=9831&itemId=1118953908. Choose the Student Companion site to access the Continuing Cookie Chronicle under Additional Exercises and Problems.

Jot down answers in your own notes for each of the questions asked. This information will be used when you complete your summative assignment. You do not need to submit your answers to the instructor but reading and familiarizing yourself with the questions and answers will help as you progress through the project.

Required Resources:

Kimmel, P. D., Weygandt, J. J., & Kieso, D. E. (2016). Financial accounting: Tools for business decision making (8th ed.). Retrieved from https://content.ashford.edu/.

· Chapter 1: Introduction to Financial Statements

· Chapter 2: A Further Look at Financial Statements

Website

Tootsie Roll Corporate Website (www.tootsie.com)

Recommended Resources:

Website

Textbook Student Companion Site http://bcs.wiley.com/he-bcs/Books?action=index&bcsId=9831&itemId=1118953908

Review the PowerPoint presentations for Chapter 1 and Chapter 2 found on the textbook publisher’s website.

· Review the PowerPoint presentations for Chapter 1 and Chapter 2 found on the textbook publisher’s website.

Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more