Fiscal Year - Financial Statements. Why do most companies use a different fiscal year end (instead of the calendar year)? What difference does it make? Example: Some may use March 31 or March 1, as their year end. Explain

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Need Help ASAP! Calculate the gross profit percentage ratio of Apple Inc. for the year 2020 (current year) and 2019 (previous year) and the gross profit percentage ratio of its industry peer Microsoft Corp. for the year 2020 (current year). Show calculations. Round the ratios to two decimal places

what are the three different types of accounting for changes. Give suitable examples.  Do you find any company that has reported an accounting change in the recent years?

arkman Sporting Goods is preparing its annual report for its fiscal year. The company's controller has asked for your help in determining how best to disclose information about the following items: Required: Indicate whether each item should be disclosed (A) in the summary of significant accounting policies note, (B) in a separate disclosure note, or (C) on the face of the balance sheet. 1. A related-party transaction.2. Depreciation method.3. Allowance for uncollectible accounts.4. Composition of investments.5. Composition of long-term debt.6. Inventory costing method.7. Number of shares of common stock authorized, issued, and outstanding.8. Employee benefit plans.

When a contingency comes into existence after the company’s fiscal year-end, why does a liability cannot be accrued?

Using Starbucks 10-K answer the following:  Review Note 1 of the Financial Statement Information.  What accounting pronouncements were adopted and when?  What was the impact of adoption on retained earnings?

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What is the effect on liabilities, stockholder’s equity, revenues and net income if a company does not make an unearned revenue adjusting entry? Explain with suitable examples

Perez Company reported an increase in inventories in thepast year. Discuss the effect of this change on the currentratio (current assets ÷ current liabilities). What does thistell a statement user about Perez Company’s liquidity?