University of Maryland Advanced Accounting Segment and Interim Reporting Discussion.
- Segment information is reported based on the internal reporting system of the company as opposed to the authoritative accounting requirements based on GAAP. Analyze the major disclosure reporting requirements related to each separately reportable operating segment. Next, give your opinion as to whether disclosures provide financial statement users beneficial information for investment or credit decisions. Provide examples to support your response.
- Speculate on at least three (3) accounting problems that exist under U.S. GAAP related to interim financial reports. Next, suggest at least one (1) approach to overcome each listed problem. Provide a rationale for your response.