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Does the financial statement/information meet all the qualitative characteristics of accounting information? Provide a detailed explanation Please consider qualitative characteristics such as Relevance, faithful representation,
Does the financial statement/information meet all the qualitative characteristics of accounting information? Provide a detailed explanation
Please consider qualitative characteristics such as Relevance, faithful representation, enhancing qualitative characteristics and constraints (cost constraint).
WorldCom, Inc. Common Size Income Statement For the Years Ending December 31 Figures in Millions 2000 2001 Revenues ating ex penses Line costs Selling, general Depreciation and amortization d a dministrative 1.40% 48% penses ating income 99% Other inc ome (expense) Interest ex 248%| 0.98% 19.36%2,393 7.74% 11.62% -0.70% 10.84% -0.22% 10.62% $ 1.501 (1,533)| 412 (9701-24890 -4.3 1.17% 6.80% 2.64% 4.17% 0.10% 427% 0.00% 427% 385 Income before income taxes, minorityinterest Proision forincome taxes Income before 927 1.466 35 1,501 3,025 4543 4238 S 4,153 nterests Mnorityinterests Income before cumulative effect of Cumulative effect of accounting change (net of income tax of S50 in Net income Distributions on mandatorilvredeemable treferred securities and other pre ferred dividendr Net income applicable to common shareholders (305) | change 65 $4,088 0.17% 10.46%| 0.33% 3.93% $1.384
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