In teams of two or three students, go to the library to locate one company's annual report for the most recent year. (The university may have received the annual reports of companies in either published form, microfiche form, or a computer readable format.) Examine the "Summary of Accounting Policies," which is part of the "Notes to Financial Statements" section immediately following the financial statements. As a team, write a memorandum to the instructor detailing the significant accounting policies of the company. The heading of the memorandum should contain the date, to whom it is written, from whom, and the subject matter.