INSTRUCTIONS: Obtain a copy of the Procter & Gamble Company (P&G) 10-K for the fiscal year ended June 30, 2020. You need to show your work and mark each response with the corresponding question number. This must be typed. The project is worth a total of 100 points. It is comprehensive over the financial statements, which will include questions/topics that have been covered in previous accounting classes, in addition to this course. You may need to refresh your memory on older topics. You are required to reference the corresponding financial statement(s) and/or footnote used in arriving at your answer. (You should not reference the MD&A or other portions of the 10-K.) In addition, you are required to reference the page number in the 10-K where you found the information (use the actual page number from the document, this is not going to be the same if you are looking at the document electronically), (i.e., Consolidated Statement of Earnings, page 37 or Footnote 1, Summary of Significant Accounting Policies, page 42). State (show) any assumptions and/or calculations used to come to your conclusions. Points will be deducted for failing to include references and/or not showing your work. Just providing a ratio will not be sufficient. For example, saying the current ratio is 1.0 will not earn full credit. 1 What is the company's fiscal year? 2 What does Procter & Gamble do? 3 About how many times a year does the Company turn over their accounts receivable? About how many days on average does it take the Company to turn over their accounts receivable? What does this ratio tell us? Did the ratio improve or worsen from fiscal 2019 to 2020? 4 How are the various categories of inventories valued? What is the cost flow assumption used by the Company for the various categories of inventory? 5 What is P&G's revenue recognition policy? When is revenue generally recognized? Does P&G use the designation F.O.B. shipping point or F.O.B. destination? 6 What depreciation method does the Company use for property, plant and equipment? When and how does P&G handle changes in estimated useful lives? 7 For the fiscal year ended June 30, 2020 and 2019 what is the amount of sales generated by each dollar invested in assets for the P&G? Did the ratio improve or worsen from fiscal 2019 to 2020? What does this ratio tell us? 8 How are the costs of intangible assets with determinable useful lives amortized? How does the company handle goodwill and indefinite lived intangibles? INSTRUCTIONS: Obtain a copy of the Procter & Gamble Company (P&G) 10-K for the fiscal year ended June 30, 2020. You need to show your work and mark each response with the corresponding question number. This must be typed. The project is worth a total of 100 points. It is comprehensive over the financial statements, which will include questions/topics that have been covered in previous accounting classes, in addition to this course. You may need to refresh your memory on older topics. You are required to reference the corresponding financial statement(s) and/or footnote used in arriving at your answer. (You should not reference the MD&A or other portions of the 10-K.) In addition, you are required to reference the page number in the 10-K where you found the information (use the actual page number from the document, this is not going to be the same if you are looking at the document electronically), (i.e., Consolidated Statement of Earnings, page 37 or Footnote 1, Summary of Significant Accounting Policies, page 42). State (show) any assumptions and/or calculations used to come to your conclusions. Points will be deducted for failing to include references and/or not showing your work. Just providing a ratio will not be sufficient. For example, saying the current ratio is 1.0 will not earn full credit. 1 What is the company's fiscal year? 2 What does Procter & Gamble do? 3 About how many times a year does the Company turn over their accounts receivable? About how many days on average does it take the Company to turn over their accounts receivable? What does this ratio tell us? Did the ratio improve or worsen from fiscal 2019 to 2020? 4 How are the various categories of inventories valued? What is the cost flow assumption used by the Company for the various categories of inventory? 5 What is P&G's revenue recognition policy? When is revenue generally recognized? Does P&G use the designation F.O.B. shipping point or F.O.B. destination? 6 What depreciation method does the Company use for property, plant and equipment? When and how does P&G handle changes in estimated useful lives? 7 For the fiscal year ended June 30, 2020 and 2019 what is the amount of sales generated by each dollar invested in assets for the P&G? Did the ratio improve or worsen from fiscal 2019 to 2020? What does this ratio tell us? 8 How are the costs of intangible assets with determinable useful lives amortized? How does the company handle goodwill and indefinite lived intangibles
