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670 S10 A See attachment for information and qu...




670 S10 A See attachment for information and questions. No word limit. Problem 1 ? Looking for XBRL info in Two Ways Go to Footlocker. com. Under the Second Quarter 2011 Form 10-Q - filed 09/07/11, select the SEC XBRL Viewer. Under the financial statements, select the Consolidated Balance Sheets. Locate the following information for elements on the statement. a) For the deferred taxes account. Provide the following information from the XBRL tags. You may copy and paste your responses. Element Name Taxonomy Namespace Data Type Balance Period Would the element name or the account label be used to tag the amount of $298 on the financial statement? Show the proper format. b) Looking at the Summary of Significant Accounting Policies (left-hand menu), identify the tags for the following Element Name Taxonomy Namespace Data Type Balance Period c. Here is an excerpt from an XBRL instance document. 152000000 In your own words, explain what this tag is telling us. Problem 2 ? Go to ? Select 3M from the left hand menu ? Select Annual Report (2009-12-31) To respond to the following questions, select the appropriate 3M consolidated financial statement and then select Charting. Under Step 1 of charting select all the years available for comparison. In Step 2, select the accounts necessary to respond to the questions. Provide a narrative response, and supply screenshots of the charts you create in the viewer program (see note below) to support your answer. ANSWER THE FOLLOWING QUESTIONS 1. What is the ratio of net income to net sales for the years available for comparison? Has the relationship remained consistent? What might explain any changes in this ratio? 2. Plot interest income and expense for the years available for comparison. Describe if they have fluctuated. Provide several reasons that might explain any changes. 3. For the years available, what are the trends in total assets and total liabilities? Provide several reasons that might explain any changes. 4. For the years available, provide analysis for net cash related to operating activities, investing and financing. How might changes in these accounts relate to the accounts you analyzed above? Note: To create a screenshot, go to the screen that you want to capture, press Ctrl PrtScn. Go to the Word document where you want to insert your screen shot. Hit Ctrl V. Resize the image for the page. Or try JING, which is free capture software located at Problem 3 Visit XBRL Vendors and Service Providers or perform a general internet search from XBRL software. Based on your XBRL software review, focus on two packages. Explain their functionality and identify their market users. Share comments and comparisons from your research and explain what might make you test one package over another. Problem 4 You are at a local conference on XBRL and at break another attendee, the CFO of a local mid-size public firm, asks you ?so what will this XBRL actually do for me?? Craft a response that explains the benefits and drawbacks to XBRL, the filing requirements for his firm based on today?s date, and the pros and cons of using a service versus handling XBRL in house.


Paper#1172 | Written in 18-Jul-2015

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