Technique Of Disclosure Nike Inc. Essay - 714 Words

Technique of Disclosure: Nike Inc. disclosed this relevant information that have an effect of various contingencies on financial condition by using the methods of valuation assets and liabilities, and the company’s contracts and agreements. They use parenthetical explanations, notes, cross-reference and contra items, and supporting schedules. Nike’s annual report of 2014 contains many supporting schedules in order to illustrate and reinforced what was disclosed in a particular section such as the summary of significant accounting policies. Within this section asset accounts such as cash and cash investments, foreign currency contracts and accounts receivable accounts are discussed in detail. The section speaks on the gains or losses occurring from the accounts as well as what major transactions have occurred to affect the accounts. Along with this information are the methods and assumptions that were utilized to estimate the fair value of each class of financial instru ments. Along with all this information for the external user to view is the addition of a supporting schedule. Nike, Inc. needs a separate schedule to present more detailed information about certain assets or liabilities, which is what is done within the section in order to draw the attention to the observer to this specific fact that Nike feels is important for the external reader to know. This is seen within all the annual report from 2012 to 2014. Many parenthetical explanations are utilized within theShow MoreRelatedEssay on Nike: Just Do It2850 Words   |  12 PagesIntroduction Nike, Inc. is a sporting goods and apparel company founded by Bill Bowerman and Phil Knight in 1972. Nike, being a world-wide phenomenon, has â€Å"more than 35,000 employees across six continents and in more than 160 countries around the globe. Through our suppliers, shippers, retailers and other service providers, we directly or indirectly employ nearly one million people† (Nike, Inc.). 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