16 May WHAT FINANCIAL STATEMENTS ARE COMMONLY PREPARED FOR EXTERNAL REPORTING PURPOSES?
Week 1 Written Assignment – Introduction to CVS Annual Report – Accounting
What is the nature of CVS’ business? That is, based on what you know about the company and on the accompanying financial statements, how does CVS make money?
What financial statements are commonly prepared for external reporting purposes? What titles does CVS give these statements? What does “consolidated” mean?
How often do publicly traded corporations typically prepare financial statements for external reporting purposes?
Who is responsible for the financial statements? Discuss the potential users of the CVS financial statements and the type of information they are likely interested in.
Who are CVS’ external auditors? Describe the two “opinion” letters that CVS received. In your own words, what do these opinions mean? Why are both opinions dated several months after CVS’ year-end?
3-4 pages
APA 6th Edition
Check work for spelling and grammar
Format; Intro; Body/Main Points and supporting information; Conclusion
REFERENCE:
Text: Financial Accounting: Tools for Business Decision Making
Author: Kimmel, Weygandt, Kieso
Publisher: Wiley
Ed/Year: 7th/2013
ISBN-13 (hard cover): 978-1118162286
ISBN (e-text): 978-1118562178
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