In particular, read the notes to the audited financial statements included in the 10-K, which will describe accounting policies and standards of the reported financials. Financial reporting standards are useful in the evaluation of any organization. Following standards will allow the comparison of organizations within the same industry. Using your chosen company, provide a critical analysis of the financial reporting methodology your company uses. In your paper, Describe the financial reporting framework that your chosen company utilizes. Assess your company’s financial report, based on the qualitative characteristics of Financial Reports as outlined in Chapter 2, on the following criteria: Relevance Faithful representation Comparability Verifiability Timeliness Understandability Assess your company’s financial report, based on the general features within the General Requirements of Financial Statements as outlined in Chapter 2, on the following criteria: Fair presentation Frequency of reporting Consistency Review the Notes section of the annual report for company disclosures that might be material. Consider the following: Describe the policies that have been reported. Explain how the policies have significance in the financial statements or how they do not. The Financial Reporting Standards paper Must be three to four double-spaced pages in length (not including title and references page) and formatted according to APA Style (Links to an external site.) as outlined in the Writing Center’s APA Formatting for Microsoft Word (Links to an external site.) resource. Must include a separate title page with the following: Title of paper in bold font Space should appear between the title and the rest of the information on the title page. Student’s name Name of institution (University) Course name and number Instructor’s name Due date Must utilize academic voice. See the Academic Voice (Links to an external site.) resource for additional guidance. Must include an introduction and conclusion paragraph. Your introduction paragraph needs to end with a clear thesis statement that indicates the purpose of your paper.
