Business > CASE STUDY > MBA FBX5010 Assessment1 1.docx MBA-FBX 5010 URBAN OUTFITTERS, INC. Accounting Polici (All)

MBA FBX5010 Assessment1 1.docx MBA-FBX 5010 URBAN OUTFITTERS, INC. Accounting Polici

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MBA FBX5010 Assessment1 1.docx MBA-FBX 5010 URBAN OUTFITTERS, INC. Accounting Policies Training Manual MBA-FBX 5010 Accounting Methods for Leaders Manual Objectives: This manual will: ï‚... ·Compare how two accounting methods differ in their effects on the financial statements while providing examples and details clarifying the comparisons (i.e. capitalizing or expensing costs) ï‚·Clearly explain the accounting method™s effect on specific financial statements ï‚· Explain how advertising and store opening costs are captured on Urban Outfitters, INC. financial statements ï‚·Analyze the importance of Notes to financial statements in interpreting financial statements Financial Statements œAny corporation whose stock is publicly traded is subject to reporting requirements by the Securities and Exchange Commission (SEC) (Averkamp, 2020, p.1). Large companies, such as Urban Outfitters, INC, generate quarterly and/or yearly financial statements that are published by the SEC. These financial statements include: Income statement (also known as profit and loss statement), Statement of comprehensive income, Balance sheet, Statement of Cash Flows, and Statement of stockholder™s equity (Averkamp, 2020). To ensure that these statements are credible, easy to understand, and comparable to other entities, companies follow a set of common rules when developing these statements. Those set of rules are known as generally accepted accounting principles or GAAP (Avercamp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . . [Show More]

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