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The purpose of this assignment is to prepare a sample public company disclosure for segment reporting. For this assignment you will prepare a segment note
The purpose of this assignment is to prepare a sample public company disclosure for segment reporting. For this assignment you will prepare a segment note disclosure (250-400 words) for a fictional company "Canyon Incorporated" that will be similar to that of a public company. It is recommended you review at least two Form 10-Ks from publicly traded companies within the same industry. Review the segment reporting disclosure and use the public companies' disclosures as a guide to create a segment note disclosure for Canyon Incorporated. You will determine the industry for Canyon Incorporated for preparation of the segment disclosure note. Include the links to the two companies' 10-Ks that you utilized as your guide. As a reminder, paraphrase and use your own words to create a unique reporting note disclosure. The segment note disclosure should include the following: Provide a summary of the operating segment (location, product, or service). Provide a statement of other information included in the segment, such as corporate structure. Discuss the business industry and why the segment data are by location, product, or service. Use the "Segment Reporting Data Template" Excel spreadsheet as a guide to create tables with fictitious data to include in the segment disclosure. You will include the data tables in the written report for final submission. Use the fictitious data you created to explain how the segments were determined (include all three tests: net revenue, net assets, and operating profit). You are required to include a reference page with the two Form 10-K examples you used to guide the segment disclosure. No other external sources are required.
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