Describe the quality issues related to reporting revenue

Discussions 1.The Quality of Financial Information – Describe the quality issues related to reporting revenue, and explain the importance to understanding various inventory valuation methods in determining the quality of reported profits. Respond to at least two of your fellow students’ postings. 2. Conflicts with GAAP – Even though firms follow the accounting rules (GAAP) when presenting their financial statements it is still possible for conflicts of interest to exist between what management wants investors and creditors to see and the economic reality of transactions. Write a short essay (roughly 200 words) explaining how this can occur. In your essay explain how there are still conflicts of interest, even when firms are following the generally accepted accounting procedures (GAAP), between what management wants investors and creditors to see and the economic reality of transactions. Respond to at least two of your fellow students’ postings.  Assignment To complete the following assignment, go to this week’s Assignment link in the left navigation. Eastman Kodak 5 Each chapter in the textbook contains a continuation of this problem. The objective is to learn how to do a comprehensive financial statement analysis in steps as you learn the content of each chapter. Keep this in mind as you complete each week’s written assignment. Using the Eastman Kodak 2007 Annual Report and Form10-K, answer the following questions in a 2-page analysis: Using the checklist and the quality of financial reporting sections of Chapter 5, discuss the quality of Eastman Kodak’s annual report and Form 10-K. Adjust the 2007 net earnings figure for Eastman Kodak, for purposes of comparing this amount to future earnings.* *Note: The CPI for 2007 is 207.3 and for 2006 it is 201.6.

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