Ficticious Disclosure Notes to Financial Prospectus
Course Project – “notes to the financial statements”
Dick's Sporting Goods, Inc. and Subsidiaries
Notes to Consolidated Financial Statements
1. Significant Accounting Policies
Basis of Accounting and Financial Statement Presentation - The financial statements of Dick's Sporting Goods, Inc. are prepared in accordance with generally accepted accounting principles (GAAP). Expenses are recorded when a liability is incurred and revenues are recorded when earned, regardless of the timing of related cash flows. Likewise, revenues are recognized when they are both measurable and available. For the purposes of these statements, available denotes collectible within the current period or soon enough thereafter to pay current liabilities; this is considered to be collected within 45 days of the end of the fiscal year. General bond obligation, principal and interest are reported as expenditures in the year due.
Use of estimates in the preparation of Financial Statements - Corporate accounting policies are in compliance with generally accepted accounting principles. Estimates and assumptions are required within such compliance. As of the date of the financial statements, reported counts of assets, liabilities, contingent assets and liabilities as well as the reported level of revenues and expenses during the period may be affected. Those estimates could differ from those estimates.
Cash Flow Presentation - Dick’s Sporting Goods, Inc. employs the indirect method when preparing the Statements of Cash Flows. The indirect method uses net-income as a starting point, makes adjustments for all transactions for non-cash items, then adjusts from all cash-based transactions. Increases in assets are subtracted from net income and respectively, increases in liabilities are added back to net income. Likewise, an in-depth series of additions and subtractions converts accrual-basis net income (or loss) into cash flow. Derivative instruments in managing
Dick's Sporting Goods, Inc. and Subsidiaries
Notes to Consolidated Financial Statements
1. Significant Accounting Policies
Basis of Accounting and Financial Statement Presentation - The financial statements of Dick's Sporting Goods, Inc. are prepared in accordance with generally accepted accounting principles (GAAP). Expenses are recorded when a liability is incurred and revenues are recorded when earned, regardless of the timing of related cash flows. Likewise, revenues are recognized when they are both measurable and available. For the purposes of these statements, available denotes collectible within the current period or soon enough thereafter to pay current liabilities; this is considered to be collected within 45 days of the end of the fiscal year. General bond obligation, principal and interest are reported as expenditures in the year due.
Use of estimates in the preparation of Financial Statements - Corporate accounting policies are in compliance with generally accepted accounting principles. Estimates and assumptions are required within such compliance. As of the date of the financial statements, reported counts of assets, liabilities, contingent assets and liabilities as well as the reported level of revenues and expenses during the period may be affected. Those estimates could differ from those estimates.
Cash Flow Presentation - Dick’s Sporting Goods, Inc. employs the indirect method when preparing the Statements of Cash Flows. The indirect method uses net-income as a starting point, makes adjustments for all transactions for non-cash items, then adjusts from all cash-based transactions. Increases in assets are subtracted from net income and respectively, increases in liabilities are added back to net income. Likewise, an in-depth series of additions and subtractions converts accrual-basis net income (or loss) into cash flow. Derivative instruments in managing