Net revenues Cost of goods sold Gross profit RALPH LAUREN CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS Selling, general, and administrative expenses Impairment of assets Restructuring and other charges Total other operating expenses, net Operating income Interest expense Interest income Other income (expense), net Income before income taxes Income tax benefit (provision) Net income Net income per common share: Basic Diluted Fiscal Year Ended March 28, 2020 (millions, except per share data). $ 6,159.8 (2,506.5) 3,653.3 (3,237.5) RALPH LAUREN CORPORATION CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Net Income Other comprehensive income (loss), net of tax: Foreign currency translation gains (losses) Net gains (losses) on cash flow hedges Net gains (losses) on defined benefit plans Other comprehensive income (loss), net of tax Total comprehensive income (31.6) (67.2) (3,336.3) 317.0 (17.6) 34.4 (7.4) 326.4 57.9 $384.3 Fiscal Year Ended March 28, 2020 (millions) $384.3 (11.9) (2.2) (0.7) (14.8) $5.07 $ 4.98 $369.5

Q: What is the impact on A Company financial statements if the company forgets to recognize that…

A: Unearned Revenue - Unearned Revenue is the revenue which is not earned by the company but amount…

Q: How are restrictions of retained earnings reported?

A:

Q: which of the following would be considered in the calculation of gross profit?  Sales and returns…

A: Gross Profit is the operating profit calculated by deducting the cost of goods sold from the revenue…

Q: Explain the components of non operating income.

A: Non Operating Income is that part of an organisation's income that is obtained from activities not…

Q: When does a company typically recognize revenue for a bill-and-hold sale?

A: Bill and hold agreements represent a sales arrangement in which the buyer pays for the item or items…

Q: What are the unofficial earning measures of revenue?

A: Unofficial earning measures of revenue are often called as non-GAAP (Generally Accepted Accounting…

Q: Explain why companies do not include principle payment requirement when calculating earnings to…

A:

Q: What does the accrual-accounting model measures?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: How did they get the income summary?

A: Lets understand the basics. Income summary is summary which reflects the all the revenue and expense…

Q: Briefly describe the guidelines provided by GAAP for the recognition of revenue by a franchisor for…

A: Franchise arrangement and performance obligation:   In a franchise transaction, the franchisor has…

Q: How can an accounting change cause a company to increase a previously reported inventory amount?

A:

Q: How did you come up the number for Income before income tax, why did you subtract the quipment cost.

A: Income before tax=Tax expenseTax rate-Depreciation expense

Q: Where does the accrual accounting focuses?

A: Accrual basis of accounting: Accrual basis of accounting refers to recognizing the financial…

Q: ompany can not rely on net income as a valid measure to pay fixed charges

A:

Q: How do you determine net income applying the accrual accounting model?

A: Accrual Accounting Model:This method is a widely used basis of accounting that suggests the timing…

Q: What items are not presented on the income statement?

A: Income statement:The financial statement which reports revenues and expenses from business…

Q: Under what conditions should a company disclose the amount of sales from a major customer?

A: Sales: A sale refers to a transaction that take place between two parties where a buyer receives…

Q: What is referred by unearned income? How is it adjusted in the final accounts?

A: Unearned income:Unearned income is known as deferred income or deferred revenue. It is the money…

Q: How does the inventory method chosen can have a significant effect on the amount of income reported…

A: Inventory is an important asset for the business. And its accounting has two methods of inventory…

Q: How does income statements disclosures are made?

A: Income Statement:   It is financial statement of an organization at the end of the period to report…