1. Using the company's financial statements you identified in Signature Assignment Part 1, review the "Notes to Consolidated Financial Statements" and the section of "Summary of Accounting Policies."
2. Write a three-page paper that addresses the following:

• Are the accounting policies in accordance with generally accepted accounting principles? Why or why not?
• Identify and discuss the major headings in the section "Basis of Presentation" and other categories. Why is this so important to state?
• How do these categories translate into the financial statements? Why is it important for managers to disclose this?