Create Income Statement, Retained Earnings Statement and Balance Sheet for a fictitious Company. While creating the financial statements make sure that you include relevant items, to be able to write the disclosure notes for the items detailed below. You will hand in the project at the end of Week 7. In order to assist you in writing the notes, as an example the 2014 Annual Report of Walmart is made available for you to use. Please go over page # 42 to 45 for Note # 1 ” Summary of Significant Accounting Policies” and pages 45-61 for Note # 2 of this report. Although you may use these as an example, you are not to use their actual notes, or the notes from any other company, because this would be considered plagiarism (and if discovered, would result in a grade of “F,” or zero points for the assignment).
Your project should consist of, but not be limited to, the items below.
Note 1: Significant Accounting Polices (consisting of at least 10 items)
Notes 2–10+: Consisting of at least the items below.
Property, Plant, & Equipment
Contingencies and Liabilities
Changes in Accounting Principles or Estimates
Post Balance Sheet Events
Mergers and Acquisitions
Employee Pension Obligations