HUM 102 MODULE THREE SHORT ANSWER ASSIGNMENT GUIDELINES AND RUBRIC

(BUY) ACC-656 Segment and Interim Reporting – The purpose of this assignment is to prepare a sample public company disclosure for segment reporting.

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The purpose of this assignment is to prepare a sample public company disclosure for segment reporting. This assignment requires you to apply your knowledge of segment and interim reporting by creating a decision-useful segment note disclosure. You will simulate real-world accounting practices by preparing a segment note for a fictional company, “Canyon Incorporated,” in accordance with the principles of FASB ASC 280. Additionally, you will analyze and justify your decisions using trade publications and scholarly articles, deepening your understanding of how segment reporting supports stakeholder needs and promotes transparency.

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Segment and Interim Reporting

The purpose of this assignment is to prepare a sample public company disclosure for segment reporting. This assignment requires you to apply your knowledge of segment and interim reporting by creating a decision-useful segment note disclosure. You will simulate real-world accounting practices by preparing a segment note for a fictional company, “Canyon Incorporated,” in accordance with the principles of FASB ASC 280. Additionally, you will analyze and justify your decisions using trade publications and scholarly articles, deepening your understanding of how segment reporting supports stakeholder needs and promotes transparency.

Segment Note Disclosure

  • Develop a segment note disclosure (400–600 words) for Canyon Incorporated, including fictitious data tables and explanations. Provide detailed financial information, including revenue, profit, and assets for each segment. Use the Excel spreadsheet, “Segment Reporting Data Template,” as a guide to create tables with fictitious data to include in the segment disclosure. You will include the data tables in the written report for the final submission.
  • Identify at least three operating segments based on location, product line, or service.
  • Summarize each segment, including its primary operations and significance to the company.

FASB ASC 280 Application

  • Explain how the reportable segments were determined using the quantitative thresholds for revenue, profit/loss, and assets.
  • Justify
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your segment classification decisions, referencing relevant sections of ASC 280.

Decision-Usefulness Concepts

  • Discuss how your segment disclosure would provide stakeholders with meaningful insights into Canyon Incorporated’s performance.
  • Describe how your presentation supports stakeholder decision-making and transparency.

Real-World Application

  • Review at least two segment disclosures from publicly traded companies in a similar industry. Include links to the 10-K filings you referenced.
  • Highlight how these real-world examples influenced your approach to Canyon Incorporated’s disclosure.

Research and Justify Your Decisions

  • Utilize two to three additional sources, including trade publications and scholarly journals, to justify your choices and discuss the importance of accurate segment reporting.

General Requirements

Include tables or charts for the segment data.

You are required to include a reference page with the two Form 10-K examples you used to guide the segment disclosure, along with any additional scholarly articles or trade publications cited in your analysis.

While  APA style is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center.

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