Standards and Framework – Financial Statements

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Refer to the most recent of P&G’s financial statements (attached)
and the accompanying notes to address the following questions and
topics:

  1. Using the notes to the consolidated financial
    statements, determine P&G’s revenue recognition policies. Discuss
    the impact of trade promotions on P&G’s financial statements.
  2. Give two examples in which historical cost information is reported
    in P&G’s financial statements and related notes. Give two examples
    of the use of fair value information reported in either the financial
    statements or related notes.
  3. How can we determine that the accounting principles used by P&G are prepared on a basis consistent with those of last year?
  4. What is P&G’s accounting policy related to advertising? What
    accounting principle does P&G follow regarding accounting for
    advertising? Where are advertising expenses reported in the financial
    statements?

Your well-written paper must be two to three pages in length

short narrative about the topic with citations, in addition to the title and reference pages, and be formatted according to the APA requirement

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