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Note 1 - did you see any mention of the use of estimates?Perhaps affecting different areas of the business? What specific subsidiaries? (it's important in a global organization).

Note 2 - very good, you mentioned revenue recognition, but how are they handling the new revenue recognition rules?Is it mentioned?How about capitalized software?How about contingencies and commitments?Did you see anything?Do they talk about policies in relation to estimating assets? What about debt?Do they mention any significant policy?

Note 5 - Do they have any uncertainties currently related to deferred taxes?Any unresolved tax issues?You mentioned reserves, can you be more specific?Is there any tax carryforwards they think might not be realized?

Note 6 - what method do they use to value this? Is there mention of anything about an option-pricing model?Do you think the plan assets are under funded or over funded?

Note 7 - you mentioned "has acquired two plants in PAS and PBG."Your reader may not know what those acronyms stand for.Is there any associated liability to any suppliers in the event of any nonpayment?

Note 10 - I'm glad you spotted they use derivative hedging instrument for risk management. Is there any mention of a plan to manage impairment investment value? If so, could we consider this a possible change needing to be made in a valuation of those financial instruments?Do you see any investments at risk for being called back?

Running head: PEPSICO 1 PepsiCo Tanya Moschetti Intermediate Accounting 2 Mrs. Reynolds PEPSICO 2 Note 1-Basis of Presentation and our divisions The PepsiCo includes the consolidated accounts of the company and other affiliates that are relayed to the company. It additionally adopts equity method to include the capital contribution of other affiliates into the company's financial statements. The company does not have to control its subsidiaries since the ownership is less than half and is the main reason why financial inclusion is only based on the contribution by the affiliate branches. Note 2- Our significant account policies Revenue to the company will only be recognized upon delivery of goods to the consumer where the agreement states that they will not be returned. The company is focused on quality and will always replace outdated products from the shelves before estimating revenues. The company has accounting policies that address the issue of out of date products as well as unaudited information. Note3-Restructuring and impairment charges The company incurs some restructuring charges which are related to the already established plan. These charges are recorded as expenses in respective general, selling and administrative accounts. Additionally, these charges are related to employee costs. A major part of PepsiCo plan is focused on marketing and use of IT in its operations. It is through the two that the company can enhance focus in its global markets. Note 4- Property, Plant and equipment and intangible assets In these section action of PepsiCo, assets are clearly defined. For the case of a plant, equipment, and property, it is first recorded as a historical cost before it is depreciated and PEPSICO 3 amortized using straight-line method. The depreciation is only done to an asset whose useful life can be ascertained. Assets such as land and work in progress cannot be depreciated until the work is finished and the property is ready for use. Note 5-Income Taxes The company makes estimations on possible income tax through their reserves. Reserves in income statements have been used over time to project income tax that will be paid at the end of the financial year. The income tax is the adjusted slightly from the estimates depending on how well a company performs in a financial year. Note 6-Share-based compensation The compensation plan by PepsiCo has been aligned to suit the needs of both staff and stakeholders. Stocks are only granted to employees in units that were approved by stakeholders in the year 2007. The company has authority on control of shares and can choose when to offer repurchased shares depending on financial needs. Note 7-Pension, Retiree medical and savings plans PepsiCo has a comprehensive pensions plan that covers full-time employees in the US and those in foreign markets. The company uses the number of years and earnings to determine the amount of pension an employee will earn upon retirement. Pension programs in the US and Canada have been adjusted to provide medical insurance only f employees meet certain requirements. PEPSICO 4 Note 8- Related party transactions The company has always relied on affiliates to gain control of its operations. The company has acquired two plants in PAS and PBG to help in bottling. These affiliates are consolidated together to represent one transaction in financial statements. Note 9- Debt obligations and commitments The company relies on debts to fund its operations. Currently, it has a portfolio of external debts of which it pays debts. The debts are used to fund marketing, purchase key raw materials and repay existing debts. Debts are also acquired for the purpose of building trust among creditors. Note-10 Financial instruments The company is faced with some risks in its financial instruments. These are interest rate risks, foreign exchange, and commodity prices. There are some measures in place that are used to manage these risks so that they do not affect the company's strategic plans. Note 11-Net Income attributable to PepsiCo per Common Share PepsiCo has a formula of attributing income per share. The formula incorporates net income which is then divided by the weighted average of common shares. If there are any outstanding shares, it is equally distributed. Th company always adopts a fair method of distributing income to its shareholders. Note-12-Preferred Stock The company has over three million shares that can be converted. These shares are preferred, and in one of the redeemable shares a Quaker established ESOP has apportioned some PEPSICO redeemable shares. Preferred shares accrue dividends steadily. Th other shares only receive dividends after preferred shares have been paid. Note 13-Accumulated other comprehensive Loss Attributable to PepsiCo Comprehensive loss for PepsiCo results from deferred items which fail to be recognized in income statements. The other comprehensive loss is presented as separate items in a balance sheet. All these items are presented for the sake of shareholder interests. Note 14- Supplemental Financial Information Supplementary financial information that is crucial for making decisions at PepsiCo includes accounts that have been written off, adjustments to assets that have been acquired and different valuation methods that the company may adopt. Note 15- Acquisitions and Divestitures. There have been acquisitions of PAS and PBG to improve the supply chain as well as diversify production.t is only through acquisitions that the company can improve efficiency and gain competitive advantage. 5 PEPSICO 6 References https://www.sec.gov/ www.pepsico.com/Investors/Annual-Reports-and-Proxy-Information