the two papers I sent you.Due Week 9 and worth 200 pointsAccording to the textbook, the goal of financial reporting is to report financial information that is transparent and complete and truthfully report the financial performance of a company. Investors and other interested parties need to read and understand all aspects of financing reporting.Use the Internet to research Verizon Communications’ financial statements, annual report, notes to the financial statements, president’s letter, and management discussion and analysis from the most recent year in order to complete this assignment.Write a five to six (5-6) page paper in which you:Discuss the disclosure requirement on accounting policies, and identify at least two (2) examples of the most commonly required disclosure. Explain the key ways in which the examples you provided are useful to financial statement users. Analyze Verizon Communications’ disclosure on accounting policies, and give your opinion on whether or not the information is helpful for decision making. Provide a rationale for your response.Explain the importance of the management discussion and analysis section of an annual report. Select three (3) items from Verizon’s management and discussion analysis of the annual report that could be useful to potential investors. Provide three (3) specific examples of how the three (3) items you selected could influence a potential investor’s decision to invest in Verizon.Describe segmented information, and explain the way in which companies determine segments. Identify at least three (3) advantages and three (3) disadvantages of segmented financial data. Give your opinion on whether or not the advantages outweigh the disadvantages. Outline the manner in which Verizon segments its financial data. Suggest key actions that Verizon’s management can take in order to improve the company’s segmented financial data. Provide a rationale for your response.Analyze the various types of auditor’s reports, and determine the impact that the auditor’s report has on a company’s ability to obtain financing from a bank. Identify the type of auditor’s report issued on Verizon, and speculate the manner in which you believe banks will perceive Verizon’s auditor’s report.Use at least two (2) quality academic resources in this assignment.Note:Wikipedia and other Websites do not qualify as academic resources.Your assignment must follow these formatting requirements:Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.The specific course learning outcomes associated with this assignment are:Analyze and explain the requirements for full disclosure in financial reporting.Evaluate the importance and impact of full disclosure or non-disclosure in accounting practices.Use technology and information resources to research issues in intermediate accounting.Write clearly and concisely about intermediate accounting using proper writing mechanics.Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric.Points: 200Assignment 1:Full Disclosure in Financial Reporting – Verizon CommunicationsCriteriaUnacceptableBelow 60% FMeets Minimum Expectations60-69% DFair70-79% CProficient80-89% BExemplary90-100% A1. Discuss the disclosure requirement on accounting policies, and identify at least two (2) examples of the most commonly required disclosure. Explain the key ways in which the examples you provided are useful to financial statement users. Analyze Verizon Communications’ disclosure on accounting policies, and give your opinion on whether or not the information is helpful for decision making. Provide a rationale for your response.Weight: 20%Did not submit or incompletely discussed the disclosure requirement on accounting policies; did not submit or incompletely identified at least two (2) examples of the most commonly required disclosure. Did not submit or incompletely explained the key ways in which the examples you provided are useful to financial statement users. Did not submit or incompletely analyzed Verizon Communications’ disclosure on accounting policies; did not submit or incompletely gave your opinion on whether or not the information is helpful for decision making. Did not submit or incompletely provided a rationale for your response.Insufficiently discussed the disclosure requirement on accounting policies; insufficiently identified at least two (2) examples of the most commonly required disclosure. Insufficiently explained the key ways in which the examples you provided are useful to financial statement users. Insufficiently analyzed Verizon Communications’ disclosure on accounting policies; insufficiently gave your opinion on whether or not the information is helpful for decision making. Insufficiently provided a rationale for your response.Partially discussed the disclosure requirement on accounting policies; partially identified at least two (2) examples of the most commonly required disclosure. Partially explained the key ways in which the examples you provided are useful to financial statement users. Partially analyzed Verizon Communications’ disclosure on accounting policies; partially gave your opinion on whether or not the information is helpful for decision making. Partially provided a rationale for your response.Satisfactorily discussed the disclosure requirement on accounting policies; satisfactorily identified at least two (2) examples of the most commonly required disclosure. Satisfactorily explained the key ways in which the examples you provided are useful to financial statement users. Satisfactorily analyzed Verizon Communications’ disclosure on accounting policies; satisfactorily gave your opinion on whether or not the information is helpful for decision making. Satisfactorily provided a rationale for your response.Thoroughly discussed the disclosure requirement on accounting policies; thoroughly identified at least two (2) examples of the most commonly required disclosure. Thoroughly explained the key ways in which the examples you provided are useful to financial statement users. Thoroughly analyzed Verizon Communications’ disclosure on accounting policies; thoroughly gave your opinion on whether or not the information is helpful for decision making. Thoroughly provided a rationale for your response.2. Explain the importance of the management discussion and analysis section of an annual report. Select three (3) items from Verizon’s management and discussion analysis of the annual report that could be useful to potential investors. Provide three (3) specific examples of how the three (3) items you selected could influence a potential investor’s decision to invest in Verizon. Weight: 15%Did not submit or incompletely explained the importance of the management discussion and analysis section of an annual report. Did not submit or incompletely selected three (3) items from Verizon’s management and discussion analysis of the annual report that could be useful to potential investors. Did not submit or incompletely provided three (3) specific examples of how the three (3) items you selected could influence a potential investor’s decision to invest in Verizon.Insufficiently explained the importance of the management discussion and analysis section of an annual report. Insufficiently selected three (3) items from Verizon’s management and discussion analysis of the annual report that could be useful to potential investors. Insufficiently provided three (3) specific examples of how the three (3) items you selected could influence a potential investor’s decision to invest in Verizon.Partially explained the importance of the management discussion and analysis section of an annual report. Partially selected three (3) items from Verizon’s management and discussion analysis of the annual report that could be useful to potential investors. Partially provided three (3) specific examples of how the three (3) items you selected could influence a potential investor’s decision to invest in Verizon.Satisfactorily explained the importance of the management discussion and analysis section of an annual report. Satisfactorily selected three (3) items from Verizon’s management and discussion analysis of the annual report that could be useful to potential investors. Satisfactorily provided three (3) specific examples of how the three (3) items you selected could influence a potential investor’s decision to invest in Verizon.Thoroughly explained the importance of the management discussion and analysis section of an annual report. Thoroughly selected three (3) items from Verizon’s management and discussion analysis of the annual report that could be useful to potential investors. Thoroughly provided three (3) specific examples of how the three (3) items you selected could influence a potential investor’s decision to invest in Verizon.3. Describe segmented information, and explain the way in which companies determine segments. Identify at least three (3) advantages and three (3) disadvantages of segmented financial data. Give your opinion on whether or not the advantages outweigh the disadvantages. Outline the manner in which Verizon segments its financial data. Suggest key actions that Verizon’s management can take in order to improve the company’s segmented financial data. Provide a rationale for your response.Weight: 20%Did not submit or incompletely described segmented information; did not submit or incompletely explained the way in which companies determine segments. Did not submit or incompletely identified at least three (3) advantages and three (3) disadvantages of segmented financial data. Did not submit or incompletely gave your opinion on whether or not the advantages outweigh the disadvantages. Did not submit or incompletely outlined the manner in which Verizon segments its financial data. Did not submit or incompletely suggested key actions that Verizon’s management can take in order to improve the company’s segmented financial data. Did not submit or incompletely provided a rationale for your response.Insufficiently described segmented information; insufficiently explained the way in which companies determine segments. Insufficiently identified at least three (3) advantages and three (3) disadvantages of segmented financial data. Insufficiently gave your opinion on whether or not the advantages outweigh the disadvantages. Insufficiently outlined the manner in which Verizon segments its financial data. Insufficiently suggested key actions that Verizon’s management can take in order to improve the company’s segmented financial data. Insufficiently provided a rationale for your response.Partially described segmented information; partially explained the way in which companies determine segments. Partially identified at least three (3) advantages and three (3) disadvantages of segmented financial data. Partially gave your opinion on whether or not the advantages outweigh the disadvantages. Partially outlined the manner in which Verizon segments its financial data. Partially suggested key actions that Verizon’s management can take in order to improve the company’s segmented financial data. Partially provided a rationale for your response.Satisfactorily described segmented information; satisfactorily explained the way in which companies determine segments. Satisfactorily identified at least three (3) advantages and three (3) disadvantages of segmented financial data. Satisfactorily gave your opinion on whether or not the advantages outweigh the disadvantages. Satisfactorily outlined the manner in which Verizon segments its financial data. Satisfactorily suggested key actions that Verizon’s management can take in order to improve the company’s segmented financial data. Satisfactorily provided a rationale for your response.Thoroughly described segmented information; thoroughly explained the way in which companies determine segments. Thoroughly identified at least three (3) advantages and three (3) disadvantages of segmented financial data. Thoroughly gave your opinion on whether or not the advantages outweigh the disadvantages. Thoroughly outlined the manner in which Verizon segments its financial data. Thoroughly suggested key actions that Verizon’s management can take in order to improve the company’s segmented financial data. Thoroughly provided a rationale for your response.4. Analyze the various types of auditor’s reports, and determine the impact that the auditor’s report has on a company’s ability to obtain financing from a bank. Identify the type of auditor’s report issued on Verizon, and speculate the manner in which you believe banks will perceive Verizon’s auditor’s report.Weight: 20%Did not submit or incompletely analyzed the various types of auditor’s reports; did not submit or incompletely determined the impact that the auditor’s report has on a company’s ability to obtain financing from a bank. Did not submit or incompletely identified the type of auditor’s report issued on Verizon; did not submit or incompletely speculated the manner in which you believe banks will perceive Verizon’s auditor’s report.Insufficiently analyzed the various types of auditor’s reports; insufficiently determined the impact that the auditor’s report has on a company’s ability to obtain financing from a bank. Insufficiently identified the type of auditor’s report issued on Verizon; insufficiently speculated the manner in which you believe banks will perceive Verizon’s auditor’s report.Partially analyzed the various types of auditor’s reports; partially determined the impact that the auditor’s report has on a company’s ability to obtain financing from a bank. Partially identified the type of auditor’s report issued on Verizon; partially speculated the manner in which you believe banks will perceive Verizon’s auditor’s report.Satisfactorily analyzed the various types of auditor’s reports; satisfactorily determined the impact that the auditor’s report has on a company’s ability to obtain financing from a bank. Satisfactorily identified the type of auditor’s report issued on Verizon; satisfactorily speculated the manner in which you believe banks will perceive Verizon’s auditor’s report.Thoroughly analyzed the various types of auditor’s reports; thoroughly determined the impact that the auditor’s report has on a company’s ability to obtain financing from a bank. Thoroughly identified the type of auditor’s report issued on Verizon; thoroughly speculated the manner in which you believe banks will perceive Verizon’s auditor’s report.5.2 referencesWeight: 5%No references providedDoes not meet the required number of references, and / or references are of poor quality.Meets the required number of references; some or all references poor quality choices.Meets number of required references; all references high quality choices.Exceeds number of required references; all references high quality choices.6. Writing Mechanics, Grammar, and FormattingWeight: 15%Serious and persistent errors in grammar, spelling, punctuation, or formatting.Numerous errors in grammar, spelling, and punctuation.Partially free of errors in grammar, spelling, punctuation, or formatting.Mostly free of errors in grammar, spelling, punctuation, or formatting.Error free or almost error free grammar, spelling, punctuation, or formatting.7. Appropriate use of APA in-text citations, reference section and formatWeight: 5%Lack of in-text citations and / or lack of reference section.In-text citations and references are given, but not in APA format.In-text citations and references are provided, but they are only partially formatted correctly in APA style.Most in-text citations and references are provided, and they are generally formatted correctly in APA style.In-text citations and references are error free or almost error free and consistently formatted correctly in APA style.Albert, CEO of XYZ, Inc., desires to expand the company’s sales through exports to three (3) foreign subsidiaries. Albert knows that the target subsidiaries are located in countries that require transactions to be denominated in the local currencies. Albert has researched foreign currency risk and knows that there is accounting exposure in accounting statements, operating exposure in future cash flows, and transaction exposure in outstanding obligations. Albert does not understand how these risks apply to XYZ, Inc. under his proposal or if there are any mitigating risk strategies available. Albert requests you, the head of the Risk Management division, to prepare a report that he can present to the Board of Directors on the potential foreign currency risk if XYZ, Inc. expands sales into these markets. XYZ, Inc.’s reporting currency is the U.S. dollar and the subsidiaries would purchase the merchandise as inventory items.Note:You may create and / or make all necessary assumptions needed for the completion of this assignment.Write a three to five (3-5) page paper in which you:Specify accounting exposure, operating exposure, and transaction exposure. Determine the main financial statement effects of each type of exposure if XYZ, Inc. expands as proposed.Determine two (2) types of hedges regarding foreign exchange risk, in general, and recommend the most advantageous risk mitigation strategy for XYZ, Inc. Provide support for your rationale.Note:Refer to Chapter 9 of the textbook for more information on corporate strategies regarding hedging foreign exchange risk.Determine the main accounting assumptions underlying each currently used method (e.g., current rate method and temporal method). Determine the fundamental differences in balance sheet exposure from the application of each method.Suggest the translation method that XYZ, Inc. should use in order to minimize balance sheet exposure. Provide support for you choice.Compare the U.S. GAAP approach to the IFRS approach of translating foreign currency financial statements. Determine the main similarities and differences between the two (2) methods of translation. Assuming one (1) of the subsidiaries of XYZ, Inc. is located in a highly inflationary country, determine the appropriate translation method under FASB and provide the theoretical justification for your response. Use at least two (2) quality academic resources in this assignment.Note:Wikipedia and other Websites do not qualify as academic resources.Your assignment must follow these formatting requirements:Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.The specific course learning outcomes associated with this assignment are:Examine and prepare the accounting entries for intra-entity asset transactions.Examine the impact that specific differences between IFRS and U.S. GAAP have on financial statements.Explain foreign currency transactions and analyze the accounting requirements for the translation of financial statements of foreign entities.Use technology and information resources to research issues in advanced accounting.Write clearly and concisely about advanced accounting using proper writing mechanics.Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric.Points: 310Assignment 2: Foreign Currency RiskCriteriaUnacceptableBelow 60% FMeets Minimum Expectations60-69% DFair70-79% CProficient80-89% BExemplary90-100% A1. Specify accounting exposure, operating exposure, and transaction exposure. Determine the main financial statement effects of each type of exposure if XYZ, Inc. expands as proposed.Weight: 15%Did not submit or incompletely specified accounting exposure, operating exposure, and transaction exposure. Did not submit or incompletely determined the main financial statement effects of each type of exposure if XYZ, Inc. expands as proposed.Insufficiently specified accounting exposure, operating exposure, and transaction exposure. Insufficiently determined the main financial statement effects of each type of exposure if XYZ, Inc. expands as proposed.Partially specified accounting exposure, operating exposure, and transaction exposure. Partially determined the main financial statement effects of each type of exposure if XYZ, Inc. expands as proposed.Satisfactorily specified accounting exposure, operating exposure, and transaction exposure. Satisfactorily determined the main financial statement effects of each type of exposure if XYZ, Inc. expands as proposed.Thoroughly specified accounting exposure, operating exposure, and transaction exposure. Thoroughly determined the main financial statement effects of each type of exposure if XYZ, Inc. expands as proposed.2. Determine two (2) types of hedges regarding foreign exchange risk, in general, and recommend the most advantageous risk mitigation strategy for XYZ, Inc. Provide support for your rationale.Note:Refer to Chapter 9 of the textbook for more information on corporate strategies regarding hedging foreign exchange risk.Weight: 15%Did not submit or incompletely determined two (2) types of hedges regarding foreign exchange risk in general, did not submit or incompletely recommended the most advantageous risk mitigation strategy for XYZ, Inc. Did not submit or incompletely provided support for your rationale.Insufficiently determined two (2) types of hedges regarding foreign exchange risk in general, insufficiently recommended the most advantageous risk mitigation strategy for XYZ, Inc. Insufficiently provided support for your rationale.Partially determined two (2) types of hedges regarding foreign exchange risk in general, partially recommended the most advantageous risk mitigation strategy for XYZ, Inc. Partially provided support for your rationale.Satisfactorily determined two (2) types of hedges regarding foreign exchange risk in general, satisfactorily recommended the most advantageous risk mitigation strategy for XYZ, Inc. Satisfactorily provided support for your rationale.Thoroughly determined two (2) types of hedges regarding foreign exchange risk in general, thoroughly recommended the most advantageous risk mitigation strategy for XYZ, Inc. Thoroughly provided support for your rationale.3. Determine the main accounting assumptions underlying each currently used method (e.g., current rate method and temporal method). Determine the fundamental differences in balance sheet exposure from the application of each method.Weight: 15%Did not submit or incompletely determined the main accounting assumptions underlying each currently used method (e.g., current rate method and temporal method). Did not submit or incompletely determined the fundamental differences in balance sheet exposure from the application of each method.Insufficientlydetermined the main accounting assumptions underlying each currently used method (e.g., current rate method and temporal method). Insufficiently determined the fundamental differences in balance sheet exposure from the application of each method.Partiallydetermined the main accounting assumptions underlying each currently used method (e.g., current rate method and temporal method). Partiallydetermined the fundamental differences in balance sheet exposure from the application of each method.Satisfactorily determined the main accounting assumptions underlying each currently used method (e.g., current rate method and temporal method). Satisfactorily determined the fundamental differences in balance sheet exposure from the application of each method.Thoroughly determined the main accounting assumptions underlying each currently used method (e.g., current rate method and temporal method). Thoroughly determined the fundamental differences in balance sheet exposure from the application of each method.4. Suggest the translation method that XYZ, Inc. should use in order to minimize balance sheet exposure. Provide support for you choice.Weight: 10%Did not submit or incompletely suggested the translation method that XYZ, Inc. should use in order to minimize balance sheet exposure. Did not submit or incompletely provided support for you choice.Insufficiently suggested the translation method that XYZ, Inc. should use in order to minimize balance sheet exposure. Insufficiently provided support for you choice.Partiallysuggested the translation method that XYZ, Inc. should use in order to minimize balance sheet exposure. Partially provided support for you choice.Satisfactorily suggested the translation method that XYZ, Inc. should use in order to minimize balance sheet exposure. Satisfactorily provided support for you choice.Thoroughly suggested the translation method that XYZ, Inc. should use in order to minimize balance sheet exposure. Thoroughly provided support for you choice.5. Compare the U.S. GAAP approach to the IFRS approach of translating foreign currency financial statements. Determine the main similarities and differences between the two (2) methods of translation. Assuming one (1) of the subsidiaries of XYZ, Inc. is located in a highly inflationary country, determine the appropriate translation method under FASB and provide the theoretical justification for your response.Weight: 20%Did not submit or incompletely compared the U.S. GAAP approach to the IFRS approach of translating foreign currency financial statements. Did not submit or incompletely determined the main similarities and differences between the two (2) methods of translation. Did not submit or incompletely determined the appropriate translation method under FASB and did not submit or incompletely provided the theoretical justification for your response.Insufficiently compared the U.S. GAAP approach to the IFRS approach of translating foreign currency financial statements. Insufficiently determined the main similarities and differences between the two (2) methods of translation. Insufficiently determined the appropriate translation method under FASB and insufficiently provided the theoretical justification for your response.Partially compared the U.S. GAAP approach to the IFRS approach of translating foreign currency financial statements. Partially determined the main similarities and differences between the two (2) methods of translation. Partially determined the appropriate translation method under FASB and partially provided the theoretical justification for your response.Satisfactorily compared the U.S. GAAP approach to the IFRS approach of translating foreign currency financial statements. Satisfactorily determined the main similarities and differences between the two (2) methods of translation. Satisfactorily determined the appropriate translation method under FASB and satisfactorily provided the theoretical justification for your response.Thoroughly compared the U.S. GAAP approach to the IFRS approach of translating foreign currency financial statements. Thoroughly determined the main similarities and differences between the two (2) methods of translation. Thoroughly determined the appropriate translation method under FASB and thoroughly provided the theoretical justification for your response.6. 2 referencesWeight: 5%No references providedDoes not meet the required number of references; all references poor quality choices.Does not meet the required number of references; some references poor quality choices.Meets number of required references; all references high quality choices.Exceeds number of required references; all references high quality choices.7.Writing Mechanics, Grammar, and FormattingWeight: 5%Serious and persistent errors in grammar, spelling, punctuation, or formatting.Numerous errors in grammar, spelling, and punctuation.Partially free of errors in grammar, spelling, punctuation, or formatting.Mostly free of errors in grammar, spelling, punctuation, or formatting.Error free or almost error free grammar, spelling, punctuation, or formatting.8.Appropriate use of APA in-text citations and reference section (if applicable, might not apply to some 100 level courses such as ACC100)Weight: 5%Lack of in-text citations and / or lack of reference section.In-text citations and references are given, but not in APA format.In-text citations and references are provided, but they are only partially formatted correctly in APA style.Most in-text citations and references are provided, and they are generally formatted correctly in APA style.In-text citations and references are error free or almost error free and consistently formatted correctly in APA style.9.Information Literacy/Integration of SourcesWeight: 5%Serious errors in the integration of sources, such as intentional or accidental plagiarism, or failure to use in-text citations.Sources are rarely integrated using effective techniques of quoting, paraphrasing, and summarizing.Sources are partially integrated using effective techniques of quoting, paraphrasing, and summarizing.Sources are mostly integrated using effective techniques of quoting, paraphrasing, and summarizing.Sources are consistently integrated using effective techniques of quoting, paraphrasing, and summarizing.10.Clarity and Coherence of WritingWeight: 5%Information is confusing to the reader and fails to include reasons and evidence that logically support ideas.Information is somewhat confusing with not enough reasons and evidence that logically support ideas.Information is partially clear with minimal reasons and evidence that logically support ideas.Information is mostly clear and generally supported with reasons and evidence that logically support ideas.Information is provided in a clear, coherent, and consistent manner with reasons and evidence that logically support ide