Where would you find the following information? (a) A going concern qualificatio

Question

Where would you find the following information?

(a) A going concern qualification

(b) Summary of significant accounting policies

(c) Discussion of the company’s results of operations (

d) A company’s effective tax rate

(e) Anticipated commitments for capital expenditures

(f) Items included in other comprehensive income

(g) Anticipated commitments for capital expenditures

(h) LIFO liquidation layer

(i) Discussion of operating and financial risks

(j) Unrealized gain on available-for-sale marketable securities

Explanation / Answer

a) Going concern qualification will be found in Auditors' report b) Summary of significant accounting policies will be found as a schedule to the financial statements of the company c) Discussion of the company's results of operations is found in the directors' report of the company d) Effective tax rate is a calculated number = Total Tax Expense / Earning before tax This is a number which can be derived with the help of income statements e) Anticipated commitments for capital expenditure can be found in the notes to accounts section of the finacial statements f) Items included in other comprehensive income will be found under the head Other comprehensive income in Income and comprehensive income statement of the financial statements g) Anticipated commitments for capital expenditure can be found in the notes to accounts section of the finacial statements h) LIFO liquidation layer would be depicted in the income statement of the finacial statements i) Discussion of operating and finacial risks would be available in the Directors report j) Unrealized gains on available for sale marketable securities will be available in other comprehensive income statement in the Income statement

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