ipl-logo

How Many Years Of Comparative Income Statements Are Presented In The 10-Q

1797 Words8 Pages

1. Income Statement a. Does your company present a single-step or multi-step statement of net income? Pfizer presents their statement of net income in a single-step format (Annual Reports, p. 69). b. How many years of comparative income statements does the company present? Pfizer presents three years which are 2014, 2015, and 2016 currently (Annual Reports, p. 69). c. How many years of comparative income statements are presented in the 10-Q? In Pfizer’s 10-Q, they present 2 years of comparative income which are October 2, 2016, and October 1, 2017. Pfizer also indicates the three month ended and six month ended for the two years (Pfizer Inc Form 10-Q, 2017, p. 5-6). d. Identify the line item(s) in the company’s statement of net income …show more content…

69). These are all permanent earnings because they will be continued in the future. For example, as long as the company is operating, it will have continued revenues and costs associated with selling their products and expenses that are linked to the everyday functions of the company. Pfizer will also need to continue to have research and development expenses so they can remain a leading pharmaceutical company by developing new medical advances. e. Identify the line item(s) in the company’s statement of net income that you think reflect transitory earnings. The line item that I believe reflect transitory earnings is the discontinued operations listed in Pfizer’s statement of income (Annual Reports, p. 69). This would reflect transitory earnings because it is unlikely that Pfizer will continue to have this item in the future. Being a pharmaceutical company they may discontinue drug lines after patents are up on those drugs, but this will not always be the …show more content…

Effective date January 1, 2020 (Pending) In June 2016, they updated the guidance for accounting for credit losses of financial instruments. Lastly, in January 2017 the FASB issued new guidance on goodwill impairment testing. All of these pending standards or early application of these standards brought out by the FASB are being assessed by Pfizer to see the impact that they will have on the firm’s financial statements. All of the above date is found in the annual reports (Annual Reports, p.59-60). 6. According to a recent New York Times article by Amie Tsang, Pfizer is considering spinning off or selling their consumer health unit. This portion of their business is worth $3-4 billion in 2016 or 6 percent of their overall revenues. Some of the items that Pfizer makes in their consumer health unit are Advil, Centrum supplements, and chapstick. The decision to proceed with one of these ideas will come next year (Tsang,

Show More
Related

Acc 201 Final Project Part 1 Accounting Cycle

1187 Words | 5 Pages

ACC 201 Final Project Part I Accounting Cycle Report Vanessa Ann Williams Southern New Hampshire University The accountant cycle has really impacted me to gain insight on the financial side of Peyton Company. In the accountant cycle, there are many particular directions involve determining the growth of the company such as steps, role, omission and financial statements. It’s important to apply every step from the accountant cycle to make a financial critical decision in the long run. This report will have a breakdown of how to apply the accountant cycle for Peyton Company to be aware of future financial decisions to keep the company holding strong.

Read More

Xacc/280 Week 4 Financial Statement Analysis

470 Words | 2 Pages

This information is important to have, because if the company had to borrow money, how much it cost to produce the products, and how much the operating expenses are. The income statement is to help determine if the company is making or losing money (Bethel University, 2011). Statement of Stockholders’ equity is to show the last year of retained earnings, it shows the net income from the income statement for the year, it has the dividends during the whole period of the year, and it has the ending retained earnings. This statement is used to help the company keep track of any changes in the stockholders’ equity. It also shows the relationships between the balance sheet, income statement, and the stockholders’ equity (Bethel University, 2011).

Read More

Discussion Board 2: Google Inc. Liberty University

489 Words | 2 Pages

financial statements is the level of detail in the statement. Google provides a clarity of breakdown from the profits gain and loss pertaining to the past five years. In the text it only gives a breakdown with the current year. Potential Investor As a potential investor looking into Google, Inc overall history of longevity this has enabled insight on the company’s health.

Read More

American Eagle Outfitters Income Statement

515 Words | 3 Pages

The net income amount that is shown on three statements show $80,322 in the thousands. The three statements are operation statement, income statement, and the cash flow statement. Per all three statements the net income has decreased in the thousands over the last three fiscal years (Bethel University,

Read More

Acc/421 Week 4 Financial Essay

1751 Words | 8 Pages

The first part of a cash flow statement evaluates a company’s cash flow from net income or losses. However, this portion of the cash flow statement should reconcile the net income for the real cash the company received from or used in its operating activities. By adjusting net income for any non-cash items and adjusting for any cash that has been used or provided by other operating assets and liabilities (Huang,

Read More

American Eagle Outfitters Inc.: Financial Analysis

503 Words | 3 Pages

A company’s financial statements provide numerous financial information that analysts, creditors, and investors use to assess a company’s financial performance (Bethel University, 2017). Financial statements convey past performances as well as future opportunities and expectations. The information presented in financial reports of a company is required by law or by accounting regulations. Publishing such reports as the balance statement, income statements, and cash flow statements allows management to communicate with interested parties about the accomplishments and success of the company. The financial condition of a company is a major concern to creditors and investors.

Read More

Aritzia Income Statement

1230 Words | 5 Pages

This risk results in more expenses for the business as it hopes for more sales. While measuring net income, one uses an income statement which is measured “during a period of time, such as a month, quarter, or year” (Ebert et al, 2015). Aritzia blames factors such as inflation for their loss in sales. Its expenses have probably increased due to factors like research and development for its new line.

Read More

Unit 5 Accounting M3

2494 Words | 10 Pages

It shows how the revenues (money received from the sale of products and services before expenses are taken out) are changed into the net income (the total after all revenues and expenses have been accounted for, also known as "net profit" It displays the revenues that have been taken in for a specific time period ;the cost and expenses charged against these revenues, including paying off of various assets and taxes. The purpose of the income statement is to show managers and investors whether the company made or lost money during the time period being

Read More

Jcpeney 2013 Annual Report

1091 Words | 5 Pages

This is the first of four worksheets that helps you to transition from theoretical aspects of business foundations to the financial foundation of business. Initially it may feel like you are traveling in uncharted territory. Fear not, as each of the Worksheets C, D, E, and F builds off the others. This is the introductory aspect of consolidated financial statements. Here, you will identify the different financial statements, what information each financial statement provides management, investors, and whoever is reviewing the statement, and insight on why this information is essential for making decisions internally within a firm and whether or not external parties may want to invest.

Read More

Revenue Recognition Principles

1311 Words | 6 Pages

The cash flow provides an indication on how much cash enters and leaves an organization. The following paper will go further into the depths of accounting to explore the revenue and expense recognition principle Revenue Recognition Principle Accountants know that including information provided by the Financial Accounting

Read More

Eli Lilly Essay

279 Words | 2 Pages

Eli Lilly and Company financial administrators have significant experience and skills in both business management and the pharmaceutical industry. According to Forbes, Eli Lilly as the 10th most significant pharmaceutical business in the world with $94.1 billion market capitalization. Since Lilly concentrated, it worked in the fields of drug analysis, development and marketed in the areas of endocrinology, neuroscience, cardiovascular disease, oncology, and women's health. The business made a significant improvement in the 1990's because of its successful antidepressant Prozac, but Eli Lilly has faced a possible loss in earnings with its patent early to expire.

Read More

Artists In The Music Industry: A Case Study

1101 Words | 5 Pages

A profit and loss statement or P&L is a financial statement that recapitulate the revenues, costs and expenses sustained during a specific period of time usually taken place in a budgetary quarter or a year. The data acquired by this method is used to provide information of the company’s ability or loss thereof to generate profit by increasing revenue (+) or reducing costs (-) or sometimes even both. The year of 2017 has been a rough year for major independent record labels, in terms of the album sales that have continued to decline steadily throughout the past few years due to the presence of other music streaming platforms and according to Amy Macy, “the consumers [began] looking elsewhere to satiate their burgeoning musical

Read More

Strengths And Weaknesses Of Pfizer

1170 Words | 5 Pages

Pfizer has a significant amount of cash on hand and investments held overseas. Changes to the US corporate tax system now means overseas cash is taxed at 15%. This means Pfizer can more easily access funds with less penalty. Human Resources Management. • Staff Recruitment • Training

Read More

Tesco Accounting Report

1656 Words | 7 Pages

Also many companies reporting related to the state of the value added or environmental information, these are concentrated in industrial sectors. The financial statements reflect the financial position of company, financial performance and cash flows of the company, it is significant to note that the correct depiction of the impacts of transactions and other events and circumstances according to the explanations and criteria identification of assets, liabilities, income and expenses go in the same outline (Brealey,

Read More

Sanofi-Aventis Case Study

920 Words | 4 Pages

Nonetheless, because of patent lapses and new effective medication dispatches, the positioning of top pharmaceutical organizations always confronts various varieties. The most sold medication in 2003 was Lipitor made by Pfizer, with a worldwide piece of the pie of 2.2%, or identically deals worth $10.3 billion. Amid this time, there were 64 blockbusters (items creating over $ 1 billion in deals). Also, the pharmaceutical area has been portrayed with a high M&A action – a certainty that further adds to the consistent variety in the rankings and the dynamism of the pharmaceutical business by and large. For instance, in 2003, preceding the merger occurred, Aventis involved fifth spot, as measured by level of incomes, and Sanofi came in thirteenth.

Read More

More about How Many Years Of Comparative Income Statements Are Presented In The 10-Q

Related Topics

Open Document