Here are the consolidated forms from FedEx annual report The

Home 201854-Accounting Theory& Practice- ACCT-6003-... Week #5 wk #5 HW 1) 100 points Write a 1 to 2 page paper on the following: Review the notes to the consolidated financial statements for the company you are studying individually for this course. (The notes will be located immediately following the consolidated financial statements themselves.) Cite three significant things you learned about the company from the notes (not from the financial statements themselves or from other parts of the annual report) and explain why they are important for an understanding of the company\'s financial health. Submission status Submission No attempt status Grading Not graded

Solution

THREE SIGNIFICANT THINGS ARE-

1)-THE CURRENT GROUP FEDX IS ENGAGED IN BUSINESS OF TRANSPORTATION, ECOMMERCE AND OTHER BUSINESS SERVICES THROUGH IT\'S FEDX BRAND.THEIR PRIMARY BUSINESS INCLUDE GROUND DELIVERY SERVICES AND FREIGHT TRANSPORTATION SERVICES.AND THE MAJOR COMPANY AMONG THE GROUP ARE FEDX EXPRESS CORPORATION AND TNT EXPRESS BV.

2)-THE GROUP\'S FINANCIAL YEAR IS FROM APRIL TO MAY.THE CONSOLIDATED FINANCIAL STATEMENT INCLUDE ALL THE FINANCIAL INFORMATION OF PARENT AND IT\'S SUBSIDIARIES.REGARDING REVENUE RECOGNITION MOST OF THESE ARE RECOGNISED ON GROSS BASIS AND ALSO RELATED EXPENDITURE ARE RECOGNISED ON INCURRED BASIS.ALL OTHER FINANCIAL ASSETS AND LIABILITIES ARE RECOGNISED BASED ON THEIR RESPECTIVE RECOGNITION CRITIREA.

3)-THE PAYMENT OF DIVIDEND HAS BEEN DULY MADE AND IS QUARTERLY REVIEWED BY BOARD.AND ALSO THE QUANTUM OF DIVIDEND PAID WITH RESPECT TO COMPANY\'S FINANCIAL PERFORMANCE LOOKS SOUND AND GOOD.THEREFORE IT CAN BE SAID THAT THE GROUP IS PERFORMING WELL AND IS FOLLOWING ALL THE APPLICABLE LAWS, RULES AND REGULATIONS.