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The financial statements of P&G are presented in Appendix B. The company's complete annual report, including the notes to the financial statements, is available online.

The financial statements of P&G are presented in Appendix B. The company's complete annual report, including the notes to the financial statements, is available online.

Refer to P&Gs financial statements and the accompanying notes to answer the following question.

  1. What investments does P&G report in 2017, and how are these investments accounted for in its financial statements?

  2. How are P&Gs investments valued? How does P&G determine fair value?

  3. How does P&G use derivative financial instruments?

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