Assignment 1: Full Disclosure in Financial Reporting – Verizon Communications
Due Week 9 and worth 200 points
to the textbook, the goal of financial reporting is to report financial
information that is transparent and complete and truthfully report the
financial performance of a company. Investors and other interested
parties need to read and understand all aspects of financing reporting.
the Internet to research Verizon Communications’ financial statements,
annual report, notes to the financial statements, president’s letter,
and management discussion and analysis from the most recent year in
order to complete this assignment.
Write a five to six (5-6) page paper in which you:
the disclosure requirement on accounting policies, and identify at
least two (2) examples of the most commonly required disclosure. Explain
the key ways in which the examples you provided are useful to financial
statement users. Analyze Verizon Communications’ disclosure on
accounting policies, and give your opinion on whether or not the
information is helpful for decision making. Provide a rationale for your
the importance of the management discussion and analysis section of an
annual report. Select three (3) items from Verizon’s management and
discussion analysis of the annual report that could be useful to
potential investors. Provide three (3) specific examples of how the
three (3) items you selected could influence a potential investor’s
decision to invest in Verizon.
segmented information, and explain the way in which companies determine
segments. Identify at least three (3) advantages and three (3)
disadvantages of segmented financial data. Give your opinion on whether
or not the advantages outweigh the disadvantages. Outline the manner in
which Verizon segments its financial data. Suggest key actions that
Verizon’s management can take in order to improve the company’s
segmented financial data. Provide a rationale for your response.
the various types of auditor’s reports, and determine the impact that
the auditor’s report has on a company’s ability to obtain financing from
a bank. Identify the type of auditor’s report issued on Verizon, and
speculate the manner in which you believe banks will perceive Verizon’s
- Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
typed, double spaced, using Times New Roman font (size 12), with
one-inch margins on all sides; citations and references must follow APA
or school-specific format. Check with your professor for any additional
a cover page containing the title of the assignment, the student’s
name, the professor’s name, the course title, and the date. The cover
page and the reference page are not included in the required assignment
The specific course learning outcomes associated with this assignment are:
- Analyze and explain the requirements for full disclosure in financial reporting.
- Evaluate the importance and impact of full disclosure or non-disclosure in accounting practices.
- Use technology and information resources to research issues in intermediate accounting.
- Write clearly and concisely about intermediate accounting using proper writing mechanics.