The following information was taken from the 2009 annual report of Emerson, a leader in process management,

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The following information was taken from the 2009 annual report of Emerson, a leader in process management, technology, network power, and industrial automation (dollars in millions).

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Comment on whether Emerson's financial accounting methods have been conservative or aggressive across the three-year period.

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Financial Accounting in an Economic Context

ISBN: 978-0470635292

8th Edition

Authors: Jamie Pratt

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Question Posted: Nov 18, 2011 04:13 AM

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The following information was taken from the 2009 annual report of Emerson, a leader in process management,

Question:

2008 2009 S2,417 2007 S3,093 Net income before taxes 53,591 Income tax expense: Current 1,085 52 571 1,028 Deferred 122 (64) S 693 S 964 31.2% Total $2,137 31.7% Effective tax rate 28.7%

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The conservatism ratio is an excellent measure of a companys aggressiveness ...View the full answer

Financial Accounting in an Economic Context

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