The ultimate goal of accounting is to provide both internal and external users with information...
70.2K
Verified Solution
Link Copied!
Question
Accounting
The ultimate goal of accounting is to provide both internal and external users with information that is relevant and reliable for their decision making purposes. US companies are subject to various reporting requirements, as mandated by the Securities Exchange Commission.
Go to the U.S. Securities & Exchange Commission site Use Edgar to find the 12-31-2017 Annual Report (10K) for Southwest Airlines and respond to the following questions.
1.) What amounts did Southwest report for the following items for the year ended December 31, 2017?
Total Revenues
Operating Income
Net income or net loss
Total assets
Total current liabilities
Total equity
2.) What is Southwests basic earnings or loss per share for the year ended December 31, 2017?
3.) Looking in the notes to the statements, what do they mean when they talk about Non-GAAP Financial Measures? Explain.
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
