1. Did Kellogg's report any accounting changes in its 2017 financial statements? If so, describe the reason for the change in prin- ciple and how Kellogg's accounted for the change? 2. What was the financial statement impact of the change on net income, assets, liabilities, and equity? 3. What types of estimates did Kellogg's discuss in its financial statements?

Cornerstones of Financial Accounting
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ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
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C22-8 Analyzing Kellogg's Accounting Change
Disclosures Obtain Kellogg's 2017 annual report
either using the "Investor Relations" portion of
its website (do a web search for Kellogg's investor
relations) or go to http://www.sec.gov and click
"Search for company filings" under "Filings and
Forms (EDGAR)."
Required:
1. Did Kellogg’'s report any accounting changes
in its 2017 financial statements? If so,
describe the reason for the change in prin-
ciple and how Kellogg's accounted for the
change?
2. What was the financial statement impact of
the change on net income, assets, liabilities,
and equity?
3. What types of estimates did Kellogg's discuss
in its financial statements?
Transcribed Image Text:C22-8 Analyzing Kellogg's Accounting Change Disclosures Obtain Kellogg's 2017 annual report either using the "Investor Relations" portion of its website (do a web search for Kellogg's investor relations) or go to http://www.sec.gov and click "Search for company filings" under "Filings and Forms (EDGAR)." Required: 1. Did Kellogg’'s report any accounting changes in its 2017 financial statements? If so, describe the reason for the change in prin- ciple and how Kellogg's accounted for the change? 2. What was the financial statement impact of the change on net income, assets, liabilities, and equity? 3. What types of estimates did Kellogg's discuss in its financial statements?
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