Cases in Financial Reporting: An Integrated Approach with an Emphasis on Earnings Quality and Persistence

Table of Contents BASICS-INTERPRETATION AND PREPARATION OF FINANCIAL STATEMENTS Maytag Corp.- Understanding Financial Statements Nike-Basic Ratio Analysis Yokohama Rubber and Goodyear Tire - Comparing Ratios Fuji Photo Film and Eastman Kodak-Inferring Transactions Club Mediterranee S. A.-International GAAP Food Lion, Inc. Preparation of Financial Statements Black and Decker-Adjusting Journal Entries Liz Claiborne Inc. Transactions and Financial Statements TOOLS -- DISCOUNTED CASH FLOW Maya, Inc. Return on Investment Hydron Technologies Corporation - Lease or Buy Cadillac DeVille - Implicit Interest Rate TOOLS-BASIC VALUATION AND THE PERSISTENCE OF EARNINGS Maple Leaf Gardens-Valuation GTE-Persistence of Earnings Curragh Inc. Going Concern TOOLS - CASH BASIS VERSUS ACCRUAL BASIS REPORTING Mattel, Inc. Analyzing the Cash Flow Statement Frederick's of Hollywood-Statement of Cash Flows Weis Markets, Inc. Statement of Cash Flows Jan Bell Marketing Inc. Statement of Cash Flows ASSETS L.A. Gear, Inc. Cash and Balance Sheet Issues Kendall Square Research Corp. Revenue Recognition The Warnaco Group Inc. Accounts Receivable Imasco Limited - Financial Services Assets Clearly Canadian Beverage Corporation - Inventory Lands' End, Inc. Inventory Callaway Golf Company - Manufacturing Inventory Frederick's of Hollywood - Property and Equipment Hilton Hotels Corporation - Capitalized Costs Chambers Development Co. Inc. Capitalizing Costs Merck & Co., Inc. Research and Development CIS Technologies, Inc. Software Development America Online, Inc. Deferred Costs LIABILITIES E.I. du Pont de Nemours - Environmental Matters Maytag Corporation - Warranties and Deferred Taxes Eastman Kodak and Polaroid - Contingencies Exxon-Tiger in Your Tank vs. Tony the Tiger Bally Entertainment Corporation - Long-Term Debt The Home Depot-Long Term Debt American Airlines, Inc. Leases The Robert Mondavi Corporation - Deferred Taxes Dell Computer Corporation - Income Taxes Enron Corp. Pension Obligations Black Clawson - Other Post Employment Benefits OWNERS' EQUITY Gannett Company, Inc. Treasury Stock L.A. Gear, Inc. Mandatorily Redeemable Preferred Stock INTERCORPORATE INVESTMENTS Deere & Company - Marketable Securities J.P. Morgan & Co. Inc. Marketable Securities BCE Inc. Investments in Other Companies Abitibi-Price Inc. Joint Ventures The Seagram Company - Investments in Common Stock General Electric Company - Consolidations Ford Motor Co. Accounting for Investment in Jaguar FINANCIAL STATEMENT ANALYSIS Boston Beer & Lion Brewery - Financial Statement Analysis