Q INSTRUCTIONS: Attached is a spreadsheet with several years of financial reporting data from Sears. Review the income statement for elements that would affect future earnings. How much of the income or expense are one-time amounts. sears.xlsx Download sears.xlsx Review the revenue recognition footnotes from GE and Disney (for Disney you are presented two different years. The first one presented is the latest, 2016. The second one, at the bottom of the page, is from 2005.) GE revenue recognition.docx Actions Disney Revenue Recognition.docx Actions Submit a paper providing the following: • For the Sears Company, provide a brief detail of the one-time charges included in the income statement. What do these charges inform the reader regarding the ongoing survival of the company? Since sale of assets are included in all four of the most recent year financial statements what does this inform the reader? • For the GE revenue recognition footnote. Can you decipher what this company is attempting to explain to the readers of the financial statements? • For the Disney revenue recognition footnote compare the two different footnotes presented and explain the difference between the two and your opinion on why this footnote has changed so significantly in the last 10 years. FILES: sears.xlsx Download sears.xlsx GE revenue recognition.docx Actions Disney Revenue Recognition.docx Actions Rubric Some Rubric (2) Some Rubric (2) Criteria Ratings Pts This criterion is linked to a Learning OutcomeOne time charges for Sears 15 pts provides explanation beyond a statement of facts 8 pts list but no discussion 0 pts No Marks 15 pts This criterion is linked to a Learning OutcomeGE revenue recognition 15 pts provides explanation beyond a statement of facts 8 pts list but no discussion 0 pts No Marks 15 pts This criterion is linked to a Learning OutcomeDisney revenue recognition 20 pts provides explanation beyond a statement of facts 10 pts list but no discussion 0 pts No Marks 20 pts Total Points: 50 PreviousNext