Access the financial statements of The Procter & Gamble Company (P&G) for its year ended June 30,
Question:
Access the financial statements of The Procter & Gamble Company (P&G) for its year ended June 30, 2017, from the company’s website (www.pginvestor.com).
Instructions
Refer to P&G’s financial statements and the accompanying notes to answer the following questions.
a. What business is P&G in?
b. What were P&G’s net sales for its year ended June 30, 2017?
c. What was the percentage of increase or decrease in P&G’s net sales from 2016 to 2017? From 2015 to 2016? From 2015 to 2017?
d. What is the source of P&G’s revenues? How does P&G decide on the timing of revenue recognition, and how does the company define its net sales?
e. What are trade promotions and how does P&G account for them? Does the accounting conform to accrual accounting concepts? Explain.
Financial StatementsFinancial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
Step by Step Answer:
a Note 1 to PGs financial statements indicate that the company provides branded consumer packaged goods that are sold in more than 180 countries and with ontheground operations in about 70 countries b ...View the full answer
Intermediate Accounting Volume 1
ISBN: 978-1119496496
12th Canadian edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
