Which cpa firm audited the financial statements

Assignment Help Finance Basics
Reference no: EM13823468

Answer the questions based on the 2014 annual report of the Walt Disney Company (Disney). A link to the annual report is provided with the posting of this exam. All questions can be answered within those pages.

1. Which CPA firm audited the financial statements? What type of opinion was issued?

2. What is Disney's fiscal year?

3. What amount of restructuring costs did Disney expense in 2014? What was the chief cause of these costs?

4. For years 2012 - 2014, determine:

a. The amount of cash dividends paid

b. The dividend payout ratio. Comment briefly

5. What has been the amount of advertising expense over the three years presented? Comment on any trend or pattern.

6. Equity in the income of investees is a negative amount in the computation of operating cash flow. Briefly explain why.

7. What amount of 2014 intangible assets consists of FCC licenses? Are these licenses amortized (explain how you know)?

8. Has Disney guaranteed any debt of third parties? Explain briefly.

9. For 2014 and 2013, compute debt/equity and debt/tangible net worth ratios. Comment briefly.

10. "Commitments and contingencies" appear on the balance sheet, but no amount is given. Explain briefly why.

11. What was the amount of film costs in process at the end of fiscal 2014?

12. What types of costs are included under "film and television costs"? What method is used to account for these costs?

13. With regard to debt:

a. What amount of commercial paper is outstanding at the end of fiscal 2014? What is the interest rate? Does Disney have the ability to issue additional commercial paper, and if so, how much?

b. What long-term debt has the highest effective interest rate? Why and when did this debt arise? Is the amount of this debt cause for concern? Explain.

14. With regard to pension plans:

a. What amount of pension benefits were paid to retirees in 2014?

b. What is the funded status of pension plans at the end of fiscal 2014?

c. What is the chief reason for the increase in benefit obligation during 2014?

d. What is the assumed rate of return on pension assets?

15. Does Disney fund postretirement medical benefits? If so, what is the funded status at the end of fiscal 2014?

16. Compute the ratio of the allowance for doubtful accounts to gross receivables (omit "other") for 2014 and 2013. Comment briefly.

17. Equity income of investees is derived primarily from what industry?

18. What method does Disney use to test goodwill for impairment?

19. What was the amount of pre-tax expense for stock options/RSUs for 2014? What is the general vesting rule for RSUs?

20. What is the amount of Disney's commitment to deliver future broadcast programming?

21. Compute current ratio, quick ratio, and days sales in accounts receivable (omit "other") for 2014 and 2013. Comment briefly on Disney's liquidity position.

22. With regard to segment operations:

a. Which segment accounts for the majority of capital expenditures?

b. What is the chief reason that the sum of segment operating incomes exceeds Disney's overall operating income?

c. Compute segment ROA for 2014 and comment briefly.

d. Compute segment ROS for 2012-2014 and comment briefly.

Reference no: EM13823468

Questions Cloud

Ow are structure and control different : How are leadership and control different? How are planning and control different? How are structure and control different?
Two projects in terms of cost : Analyze and compare the performance of the following two projects in terms of cost, schedule, and efficiency. Make sure to show your calculations and analyze and explain the results. (Note: Providing just numbers will earn you only partial credit.)Pr..
What ethical issues are raised : What ethical issues are raised, if any, by Sudson's practice of using the automatic renewal clause in their lease agreements? Explain. Does the Uniform Commercial Code Article 2A apply in this case? Explain
Discuss the differences between leadership and power : Define leadership, according to your assigned reading. ( Doesn't have to be from the reading, just define leadership). What characteristics differentiate charismatic leaders from non-charismatic ones? Define power and discuss the definition's three i..
Which cpa firm audited the financial statements : Which CPA firm audited the financial statements? What type of opinion was issued? What is Disney's fiscal year? What amount of restructuring costs did Disney expense in 2014? What was the chief cause of these costs?
Outlines a current healthcare issue : Need power point presentation that outlines a current healthcare issue  implications for stakeholders and strategies for leadership to address
How is that information used and interpreted : (From Using Reports and Proposals to Communicate Module)What does MELT do during conference calls; Why is this effective and proactive; How does MELT measure success or failure daily; How is that information used and interpreted?
How important is being persuasive in business : How important is being persuasive in business; What are the four dimensions of being an effective persuader and how would you apply these to your current work setting? ( From How to be persuasive module)
Discuss any ethical issues concerning pierres behavior : What are Maynard's rights under the Uniform Commercial Code (UCC) with respect to the "as-is" agreement he signed? What damages, if any, can Maynard sue Pierre's for? Discuss any ethical issues concerning Pierre's behavior

Reviews

Write a Review

 

Finance Basics Questions & Answers

  Discussed in the scenario could become a roadblock

From the scenario, cite your forecasting conclusions that support TFC's decision to expand to the West Coast market. Speculate as to whether or not the agency conflict discussed in the scenario could become a roadblock to your conclusions. Provide a ..

  Effective management practices in workplace

This assignment focuses on how the management practices of planning, leading, organizing, staffing, and controlling are implemented in your workplace. If you are not currently working, you may use a previous employer. In this assignment, you must:

  What is the nal of the lease

Big Sky Mining has no use for the machine beyond the expiration of the lease, and the machine has an estimated residual value of $200,000 at the end of the 4th year.

  Use the mauboussin & bartholdson approach

Choose a company and use the Mauboussin & Bartholdson approach to provide a brief analysis of the strengths (or weakness) of the company's competitive moat.

  Which of the 3 m&m assumptions

describe what exactly is meant when someone is describing the value of the firm versus the value of the equity of the firm.

  The firm has hired an underwriter who arranges a full

aarons sailboats has decided to take the company public by offering a total of 120000 shares of common stock to the

  Today you deposit 10750 in a bank account that pays 3

today you deposit 10750 in a bank account that pays 3 percentsimple interest. how much interest will you earn over the

  Crissie just won the ct lottery and she must choose between

crissie just won the ct lottery and she must choose between three award options. i receive a lump sum today of 61

  Harold has decided to keep danka in his portfolio even

harold rawlings has computed the returns he earned last year from each of the stock he holds in his portfolio. the

  Suppose that the service rate to a waiting line system is

suppose that the service rate to a waiting line system is 10 customers per hour exponentially distributed. analyze how

  What is the best reason for that decision

You are considering the following two mutually exclusive projects. The required return on each project is 14 percent. Which project should you accept and what is the best reason for that decision?

  What is american eagle outfitters dividend yield

American Eagles Outfitters (ticker: AEO) recently paid a quarterly dividend of $0.125. It's current share price is $12.73. What is American Eagle Outfitters' dividend yield rounded up to the nearest percent?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd