Select a publicly traded company (Mcdonalds) and access the company's most recent annual report (select the...

Select a publicly traded company (Mcdonalds) and access the company's most recent annual report (select the "Investors" menu item). Locate the notes to the financial statements and identify the information topics disclosed in these footnotes and explain the reasons for disclosure. Please share the link to the report.

Expert Solution

Mcdonald's in its annual report of 2019 has mentioned about the Summary of significant accounting policies adopted by it . It includes headings like Nature of business, Consolidation, estimates in financial statements,recent accounting pronouncements, revenue recognition,property and equipment , capitalised software, long lived assets,goodwill,advertising costs,income taxes,fair value measurements,financial instruments and hedging activities and contigencies.

Notes, also known as footnotes, are important in accounting because they provide additional information regarding methodology, valuation, time period and myriad other calculation nuances.One resource the auditor will use are the notes to the financial statements. For this reason, the information in the footnotes is just as important as the information contained within the statements, particularly from a regulatory perspective.

https://corporate.mcdonalds.com/content/dam/gwscorp/nfl/investor-relations-content/annual-reports/2019%20Annual%20Report.pdf

ekkarill92 answered 1 year ago

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Select a publicly traded company (Mcdonalds) and access the company's most recent annual report (select the...

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