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1. What is pro forma reporting according to regulation SX of the SEC? How has pro forma reporting been used by corporations over the years? Summarize the arguments for and against this type of reporting.
2. Exhibits 1 and 2 provide sample earnings announcements and pro forma information released by Proxim and Cisco Systems, respectively. Do you believe these disclosures are consistent with the spirit of the SEC regulation or are they corporate abused of financial disclosure? As a CFO of these companies, what would you have reported in your earnings announcement for the respective period?
3. Do you believe the SEC should permit the type of disclosure shown in exhibits 1 and 2?
4. What is the usefulness of the pro forma versus GAAP earnings disclosures found in Exhibits 1 and 2 with regardsf to evaluating:a. Recent financial performance;b. Expectations of future earnings;c. Credibility of management;d. Quality of earnings; ande. Equity valuation
Determine the amount of dividends payable to preferred shareholders and to common shareholders under each of the following two assumptions regarding the characteristics of the preferred stock.
The job required Nkr 3,800 in direct materials and 30 hours of direct labor time at a total direct labor cost of Nkr 6,649. The job contained only four units. If the company bills at a price 70% above the unit product cost on the job cost sheet, w..
What percentage increase in sales would enable the company to reach its goal? Support your answer with a pro forma income statement.
Dynamic Leaders Inc. reported the following results for the yearending July 31, 2008. Prepare a retained earnings statement for the fiscal year ending July 31, 2008
Heathlands will use a three-year straight-line method. In the 2005 consolidated income statement, the depreciation expense:
Flint Company purchased $4,000 of merchandise on account. Flint sold the merchandise to a customer for $7,000 cash. What is the increase in gross margin and the net change in cash flow from operating activities as a result of these transactions?
What is the value of reworking the action figures and selling them to the toy store? Is the fact that Toys Ahoy! spent $6.25 to produce each action figure relevant to your value computations?
Assess the role of GASB and its effectiveness with achieving its mission. Explain if the GASB"s oversight of governmental accounting is as effective as the FASB's over financial standards for-profit entities.
Describe the process of selecting and evaluating a sample. Why is sampling important to business? Are there situations in business where sampling would not be effective?
five trucks were leased by pleasantville under terms qualifying as a capital lease. these trucks are to be used by the
who are the users of financial statements? how would users differ in their views of the financial statements? why would
Orchard Corporation's common stock was selling at $52 per share at the end of its fiscal year. All dividends for the year had been paid, including $4.80 per share to common stockholders.
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