Measurement Attributes Used in Public Company Balance Sheets: Working with a group, choose a U.S. public company (PEPSI CO.) and locate its most recent year-end balance sheet in the companys 10-K. Your goal is to understand, and describe, how each asset on the balance sheet is measured, citing guidance from the Codification indicating the requirements for the measurement. All assets must be discussed except cash and cash equivalents and any account that represents less than 1% of Total Assets.The following table and notes show an example of the deliverable you should provide. Follow this format, listing the balance sheet item, amount, and a brief summary of its measurement basis. Use additional notes to show (concisely) the Codification justification for this measurement, as well as to add any discussion that helps a readers understanding of the item, or to share any facts you find interesting. Use your own words in your explanations; do not copy directly from the companys financial statements. If you must use the companys words, provide a reference (cite the financial statements, and specific page number, as a source). In particular, when you come across balance sheet items that are industry- or company-specific, provide additional discussion of the items. Aim for a minimum of seven total items on the balance sheet. You may elect to take a pass on one balance sheet item, for example, if you have difficulty locating, understanding, or explaining the items measurement basis. However, please explain your rationale for any passes you elect to take. Your groups deliverable should be no more than three to four pages (including roughly one page for the table). Feel free to be creative with your explanations/value add in your notes. For example, you can contrast your companys practices to other companies, point out items unique to your companys industry, highlight any recent changes in measurement method, and so on.

Example:

ABC Company, year-end 20X1 balance sheet Financial Statement Item Amount Basis of measurement Reference (to notes below)

Inventory 100,000 Lower of cost or market

Note 1 Loans receivable, net 200,000 Cost less uncollectible accounts reserve Note 2

Note 1: ABC Company has inventory, primarily in the form of purchased fuel, which it carries at cost. This is appropriate in accordance with ASC XXX-XX, which states: . One thing that is unique about ABC Companys inventory is that the Company . . .

Note 2: ABC Company, through its Finance division, routinely makes loans to customers. These loans are carried at cost less a reserve for uncollectible accounts. ASC XXX-XX permits this practice, stating: . In 20X1, the auditors for ABC Company found that the Companys uncollectible accounts reserve policy was insufficient and issued a qualified audit opinion. . . . and so on.