Choose a company from the EDGAR database and then respond to the four questions in the research case in Chapter 6. Make sure to choose any company with consolidated financial statements other than Compaq or GE. Give an opinion on whether you would have used the same method to present the statement of cash flows. What changes would have been made if the company had chosen to use the other method available? Use your readings from the text and at least one additional academic resource to provide support for your response. The following resources can be used, along with any others that are considered authoritative on the subject: ¥ EDGAR Database (U.S. Securities and Exchange Commission) ¥ FASB Accounting Standards Codification Use the username and password provided to access this resource. Username: AAA52882, Password: 2F5BNjt ¥ American Institute of CPAs (AICPA) ¥ International Accounting Standards Board (IASB) Find a recent annual report for a firm with business acquisitions (e.g., Compaq, GE). Locate the firm’s consolidated statement of cash flows and answer the following: ¥ Does the firm employ the direct or indirect method of accounting for operating cash flows? ¥ How does the firm account for the balances in balance sheet operating accounts (e.g., accounts receivable, inventory, accounts payable) in determining operating cash flows? ¥ Describe the accounting for cash paid for business acquisitions in the statement of cash flows. ¥ Describe the accounting for any non-controlling subsidiary interest, acquired in-process research and development costs, and any other business combination–related items in the consolidated statement of cash flows.
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