State the manner in which the accounting analysis made by Person F improves the profits before income taxes.

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Answer 1

Question

Chapter 9, Problem 7EYK

a.

To determine

State the manner in which the accounting analysis made by Person F improves the profits before income taxes.

b.

To determine

Identify whether Person F’s goal of improving profits is a sufficient rationale to defend the accounting analysis.

c.

To determine

State whether Person F’s analysis is agreeable.

d.

To determine

State the actions that are available to Person LT to resolve her concerns with Person F’s analysis.

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Recently, Abercrombie & Fitch has been implementing a turnaround strategy since its sales had been falling for the past few years (11% decrease in 2014, 8% in 2015, and just 3% in 2016.) One part of Abercrombie's new strategy has been to abandon its logo-adorned merchandise, replacing it with a subtler look. Abercrombie wrote down $20.6 million of inventory, including logo-adorned merchandise, during the year ending January 30, 2016. Some of this inventory dated back to late 2013. The write-down was net of the amount it would be able to recover selling the inventory at a discount. The write-down is significant; Abercrombie's reported net income after this write-down was $35.6 million. Interestingly, Abercrombie excluded the inventory write-down from its non-GAAP income measures presented to investors; GAAP earnings were also included in the same report. Question: What impact would the write-down of inventory have had on Abercrombie's expenses, Gross margin, and Net income?

Recently, Abercrombie & Fitch has been implementing a turnaround strategy since its sales had been falling for the past few years (11% decrease in 2014, 8% in 2015, and just 3% in 2016.) One part of Abercrombie's new strategy has been to abandon its logo-adorned merchandise, replacing it with a subtler look. Abercrombie wrote down $20.6 million of inventory, including logo-adorned merchandise, during the year ending January 30, 2016. Some of this inventory dated back to late 2013. The write-down was net of the amount it would be able to recover selling the inventory at a discount. The write-down is significant; Abercrombie's reported net income after this write-down was $35.6 million. Interestingly, Abercrombie excluded the inventory write-down from its non-GAAP income measures presented to investors; GAAP earnings were also included in the same report. Question: What impact would the write-down of inventory have had on Abercrombie's assets, Liabilities, and Equity?

Answer 2

Question

Chapter 9, Problem 7EYK

a.

To determine

State the manner in which the accounting analysis made by Person F improves the profits before income taxes.

b.

To determine

Identify whether Person F’s goal of improving profits is a sufficient rationale to defend the accounting analysis.

c.

To determine

State whether Person F’s analysis is agreeable.

d.

To determine

State the actions that are available to Person LT to resolve her concerns with Person F’s analysis.

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Answer 3

Question

Chapter 9, Problem 7EYK

a.

To determine

State the manner in which the accounting analysis made by Person F improves the profits before income taxes.

b.

To determine

Identify whether Person F’s goal of improving profits is a sufficient rationale to defend the accounting analysis.

c.

To determine

State whether Person F’s analysis is agreeable.

d.

To determine

State the actions that are available to Person LT to resolve her concerns with Person F’s analysis.

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Answer 4

Question

Chapter 9, Problem 7EYK

a.

To determine

State the manner in which the accounting analysis made by Person F improves the profits before income taxes.

b.

To determine

Identify whether Person F’s goal of improving profits is a sufficient rationale to defend the accounting analysis.

c.

To determine

State whether Person F’s analysis is agreeable.

d.

To determine

State the actions that are available to Person LT to resolve her concerns with Person F’s analysis.

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Answer 5

Chapter 9, Problem 7EYK

a.

To determine

State the manner in which the accounting analysis made by Person F improves the profits before income taxes.

b.

To determine

Identify whether Person F’s goal of improving profits is a sufficient rationale to defend the accounting analysis.

c.

To determine

State whether Person F’s analysis is agreeable.

d.

To determine

State the actions that are available to Person LT to resolve her concerns with Person F’s analysis.

Answer 6

Chapter 9, Problem 7EYK

a.

To determine

State the manner in which the accounting analysis made by Person F improves the profits before income taxes.

Answer 7

Chapter 9, Problem 7EYK

a.

To determine

State the manner in which the accounting analysis made by Person F improves the profits before income taxes.

Answer 8

b.

To determine

Identify whether Person F’s goal of improving profits is a sufficient rationale to defend the accounting analysis.

Answer 9

b.

To determine

Identify whether Person F’s goal of improving profits is a sufficient rationale to defend the accounting analysis.

Answer 10

c.

To determine

State whether Person F’s analysis is agreeable.

Answer 11

c.

To determine

State whether Person F’s analysis is agreeable.

Answer 12

d.

To determine

State the actions that are available to Person LT to resolve her concerns with Person F’s analysis.

Answer 13

d.

To determine

State the actions that are available to Person LT to resolve her concerns with Person F’s analysis.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 9 - Prob. 1SSQ Ch. 9 - Prob. 2SSQ Ch. 9 - Prob. 3SSQ Ch. 9 - Prob. 4SSQ Ch. 9 - Prob. 5SSQ Ch. 9 - Prob. 6SSQ Ch. 9 - Prob. 7SSQ Ch. 9 - Prob. 8SSQ Ch. 9 - Prob. 9SSQ Ch. 9 - Prob. 10SSQ

State the manner in which the accounting analysis made by Person F improves the profits before income taxes.

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State the manner in which the accounting analysis made by Person F improves the profits before income taxes.

Identify whether Person F’s goal of improving profits is a sufficient rationale to defend the accounting analysis.

State whether Person F’s analysis is agreeable.

State the actions that are available to Person LT to resolve her concerns with Person F’s analysis.

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